xendoo

OCTOBER 25, 2021

As a business owner, accounting methods may not rank that high on your list of passions, but understanding cash basis accounting vs. accrual accounting can be vital to your company’s health. . Cash basis and accrual accounting represent the two major methods of accounting used by financial professionals.

accrual accounting 59

accrual accounting Account accountant accounted 59

xendoo

OCTOBER 1, 2021

Bookkeeper ” should never be one of them. Some owners handle their own accounting, thinking they can do it all. Here are some of the reasons why you need current books: Tax Planning. Overdue books will cripple your business once tax season rolls around. Finally, you may want to have a bookkeeper help you.

bookkeeping 98

bookkeeping accrual accounting tax planning Tax 98

MyIRSRelief

DECEMBER 1, 2020

If you do want to save on your business taxes, another proven strategy that would allow you to do precisely that, is to fund your own retirement plan – pay yourself first. The reason for this is that you can now deduct these amounts owed to you from your income to help you save on taxes.

business tax 147

business tax Tax tax return accrual accounting 147

MyIRSRelief

DECEMBER 1, 2020

If you do want to save on your business taxes, another proven strategy that would allow you to do precisely that, is to fund your own retirement plan – pay yourself first. The reason for this is that you can now deduct these amounts owed to you from your income to help you save on taxes.

business tax 130

business tax Tax tax return accrual accounting 130

xendoo

OCTOBER 18, 2021

Chances are that your accounting and bookkeeping needs are low on your list of priorities, but that can come back to bite you. If your eCommerce store starts to grow, you can always switch to the accrual method down the line, though you may need to consult with an eCommerce accountant to help you with your books.

Account 52

Account accountant accounted bookkeeping 52