Shay CPA

APRIL 5, 2023

With that in mind, our team of expert tech startup bookkeepers and accountants put our heads together. Organize according to GAAP If you’ve been following our blogs, you’ve probably seen this come up before. GAAP stands for Generally Accepted Accounting Principles. GAAP stands for Generally Accepted Accounting Principles.

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bookkeeping accounting principles accounting standards bookkeeping services 59

Xero

OCTOBER 20, 2022

Accounting has been revolutionised many times over with the emergence of new technology. From calculators to Excel spreadsheets, accountants wouldn’t have gotten far if they weren’t willing to adapt for the good of their practices and their clients. . Family business. Two years later, Ravi entered the fray.

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Account accountant accounted income tax 84

Xero

MARCH 26, 2023

But while we’ve all heard of the term, not everyone really knows what it is or how to use it (or rather, whether it can be useful for them). And for those not yet familiar with how to leverage its benefits, it can be the source of great angst — particularly when trying to figure out how to make use of it in your business.

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Technology Account accountant accounted 109

Xero

MAY 30, 2022

Xero Small Business Insights (XSBI) data for April 2022 shows signs of emerging risks to small businesses in the UK, Australia and New Zealand. The rising cost of living pressures, inflation, ongoing supply chain issues and tight labour markets are some of the key factors contributing to small business performance.

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Non-Profits bookkeeping Sales accounting and finance 70

ThomsonReuters

APRIL 18, 2023

Cash flow is the lifeline for all businesses and, not surprisingly, is a top concern for many business owners. They rely heavily on cash flow statements and the expertise of their accountant to make informed strategic business decisions. Therefore, cash flow statements must be accurate.

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accounting and finance accounts payable Finance Account 59

Ryan Lazanis

SEPTEMBER 1, 2023

If you want to see the best cloud accounting software apps all in one place, then you’ll LOVE this ultimate list. In it, I’ll be sharing 147 of the best cloud accounting software apps on the market. Each item in the list will contain a brief description and will focus on how you can level up your accounting automation.

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accounting software quickbooks Account accountant 98

DuctTapeMarketing

JULY 31, 2018

Consulting Business. Small Business Finances. How Cloud-Based Accounting Software Can Benefit Your Business. How Cloud-Based Accounting Software Can Benefit Your Business. As a business owner, you are all too aware of the many moving pieces it takes for a business to run smoothly.

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accounting software Account accountant accounted 147

SchoolofBookkeeping

FEBRUARY 2, 2024

Advanced Inventory Tracking inventory Using QuickBooks Online For years the outcry from the accounting community has been “QBO doesn’t track inventory” and when QBO was first unveiled (circa 2000), that was 100% accurate. It’s a Pandora’s box that deserves a blog of its own, but needs to be mentioned.

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quickbooks E-commerce Manufacturing Approval Workflows 52

inDinero Accounting

APRIL 8, 2023

However, deciding between cash vs. accrual accounting methods is a critical one that will have far-reaching implications. Your choice between accrual vs cash will affect your business in several ways. For instance, why is it essential to select between cash and accrual accounting methods? What Is Cash Basis Accounting?

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accrual accounting Account accountant accounted 52

LyfeAccounting

JUNE 11, 2021

How to pay yourself in an S-Corporation? So read till the end to learn the rules and stipulations regarding how to pay yourself in an S-Corporation. In today’s post, we are going to fully explain how to pay yourself in an S-Corporation. When you form your business with your state, there is not an option for “S-Corporation”.

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Ronika Khanna CPA,CA

FEBRUARY 10, 2023

This in turn reduces stress as tax deadlines approach and can result in significant potential tax savings as you keep track of all your tax deductions and avoid interest and penalties. What type of businesses are required to prepare a T2125? What type of businesses are required to prepare a T2125?

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tax return Tax accounting software business tax 52

Ronika Khanna CPA,CA

APRIL 14, 2022

Being a small business owner comes with challenges, not the least of which is doing your taxes. While most Canadian taxpayers have relatively simple tax returns that can easily be completed using software, small business owners have the additional burden of reporting details relating to their businesses.

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LyfeAccounting

OCTOBER 14, 2020

Today, I’ll be deep-diving into the bookkeeping basics for small business. And by the end of this post, you’ll understand the importance of bookkeeping and how to properly complete your bookkeeping in just a few simple steps. Ready to learn the bookkeeping basics for small business? How can you grow your business?

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bookkeeping financial statements accounting and finance Maine 52

LyfeAccounting

APRIL 23, 2021

And what if we told you the business tax code was actually set up for you to do so? In this post, let us show you how to write off your dream car, so keep reading. So we’re not going to use a bunch of tax jargon you will read on other blogs. Ways on How to Write Off Your Dream Car. Crazy right?

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Tax quickbooks Real Estate accounting and finance 52

LyfeAccounting

JANUARY 31, 2021

?. If you are a business owner that does ANY work from home, and you’re NOT taking the home office deduction… then you’re probably paying more than you have to in taxes to the IRS. So if you want to keep doing that, then don’t read the rest of this post. How Much Can You Deduct? And that is one simple question….

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LyfeAccounting

JULY 3, 2021

How to start a nonprofit organization in 2021 – otherwise known as a 501(c)(3) organization. So, a nonprofit organization is a business entity in which your goal is not to be profitable… …but to make money to expand on a social clause like feeding the homeless or helping victims of harsh circumstances. Keep reading!

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ThomsonReuters

OCTOBER 21, 2022

Payroll has come a long way since the ratification of the 16th Amendment to the U.S. Payroll is typically a business’s greatest expense, which encompasses several different areas of a business’s operations. Technology has affected how many payroll professionals (either in-house or third parties) operate.

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payroll Tax Technology payroll tax 52

ThomsonReuters

OCTOBER 21, 2022

Payroll has come a long way since the ratification of the 16th Amendment to the U.S. Payroll is typically a business’s greatest expense, which encompasses several different areas of a business’s operations. Technology has affected how many payroll professionals (either in-house or third parties) operate.

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payroll Tax Technology payroll tax 40

Ryan Lazanis

APRIL 4, 2022

Do you want to know how to start a bookkeeping business or accounting firm in 2022? In fact, these are the very steps that I followed to help take my heavily bookkeeping-focused accounting business from scratch to sale in only 5 years. In this guide, you’ll learn: How to set up a strategic business plan.

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bookkeeping bookkeeping services accounting firms Technology 98

ThomsonReuters

FEBRUARY 6, 2024

You’ve likely heard these terms but understanding what they are and how they differ is important in helping companies better understand the costs they may face and how much they may owe going forward. In contrast, indirect tax, such as business property taxes, can be passed on or shifted to others. Jump to: What is direct tax?

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ThomsonReuters

JANUARY 9, 2024

Specifically, how humans interpret algorithm enforcement. Another area of interest regarding the increased use of AI in IRS audits is whether or not tax preparers, CPAs, and other practitioners will adjust how they advise a client to avoid a possible red flag if certain information on a tax return falls outside a regular fact pattern.

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audit Legal Tax tax return 98

LyfeAccounting

AUGUST 10, 2021

Section 162 of the internal revenue code says that you can “deduct all ordinary and necessary expenses paid or incurred during the taxable year to carry on any trade or business”. So get ready because, in today’s post, we’re going to explain how you can write off almost anything. Or how about real estate?

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Snyder

JUNE 20, 2022

Small business owners often have to deal with every facet of business to ensure its success. It makes sense to delegate some of the management tasks because it’s hard to keep track of everything yourself without hampering your business in the long run. Accounting is the language of numbers.

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accounting basics general ledger Account accountant 52

LyfeAccounting

NOVEMBER 3, 2020

This could be due to poor tax planning, or because they’re missing some of the biggest business tax write-offs. As a CPA, I have recognized a common pattern amongst small businesses and self-employed individuals- they are paying way too much in taxes and are missing some of the BIGGEST tax write-offs. What is a Business Tax Write Off?

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