MazumaBusinessAccounting

DECEMBER 3, 2019

As we approach tax season, it is important to understand different types of tax forms, and why we need them. If you’re hiring a new employee, or trying to report your income tax returns, you have come to the right place! Tax forms are essential for all small businesses and must be filled out properly.

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MazumaBusinessAccounting

MAY 2, 2021

We often get asked to explain the ins and outs of financial reports and have found that providing our favorite clients with a working knowledge of accounting terms is helpful. appeared first on Mazuma Business Accounting. Their skills are varied and they have a wide variety of talents. The post What Are Operating Costs?

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MazumaBusinessAccounting

MAY 9, 2021

We often get asked to explain the ins and outs of financial reports and have found that providing our favorite clients with a working knowledge of accounting terms is helpful. Doing so will help you figure out your COGS as well as help you make your business incredibly profitable. appeared first on Mazuma Business Accounting.

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Cheap Accounting

JUNE 3, 2022

Recording them in the books The rule of thumb is that pre-trading costs spent on the business should be treated as incurred on the first day that the business started to trade. In the build up to launching your business, you should keep the receipts and invoices for any outlays that you’ve made to get the business up and running.

Start-ups 40

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MazumaBusinessAccounting

AUGUST 26, 2021

If your business doesn’t turn a profit for 3 out of 5 years (except in specific industries, like horse racing) then it is classified as a hobby and you can no longer claim tax deductions against other revenue. Keep extensive files showing where you spent your money and how it was imperative to your business.

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MazumaBusinessAccounting

MAY 6, 2021

We often get asked to explain the ins and outs of financial reports and have found that providing our favorite clients with a working knowledge of accounting terms is helpful. Sorting liabilities can be done by categorizing them in 2 ways – short and long term liabilities. deferred taxes. accounts payable.

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MazumaBusinessAccounting

MAY 1, 2021

We often get asked to explain the ins and outs of financial reports and have found that providing our favorite clients with a working knowledge of accounting terms is helpful. depreciation – the process applied by your accountant to spread the expense of your asset over time. The post What Are Assets?

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