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How To Start a Bookkeeping Business in 2022 [Step by Step]

Ryan Lazanis

Do you want to know how to start a bookkeeping business or accounting firm in 2022? Great news, because this step-by-step guide will cover the critical 7 steps you’ll need to follow to set up a modern bookkeeping practice and to land your first clients. In this guide, you’ll learn: How to set up a strategic business plan.

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17 Reasons Why Bookkeeping Is Important for a Small Business  

MazumaBusinessAccounting

As a small business owner, you already have a lot on your plate. And while bookkeeping is integral to any business, most business owners aren’t experts. A simple mistake can lead to loss of revenue and investors, and tax filing errors. So what is bookkeeping, and why is bookkeeping important for a small business?

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Small Business Tax Deductions Checklist: All You Need to Know About Tax Deductions

Snyder

Every year business owners have to bear the burden of the tax season, paying taxes for income, payroll, property, sales, and so on. In total, nearly 30% of a business’ income is needed to cover all tax payments. government received total tax receipts of 4,05 trillion USD within a year. Contents: 1.

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What Is Payroll Tax? A Breakdown for Business Owners

inDinero Tax Tips

It’s money collected from employee wages and used to fund Social Security, Medicare, unemployment insurance, and other government programs. Since businesses are responsible for calculating, withholding, and remitting the tax to the government, navigating this process can be an administrative challenge.

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What happens if you miss the tax deadline?

xendoo

What happens if you’re getting a refund (you don’t owe taxes) If you missed the tax filing deadline but are due a refund, you’re in luck—there is no penalty. The government is happy to hold on to your money, interest-free, for a bit longer. Both can help you navigate the complexities of late tax filing.

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What happens if you miss the tax deadline?

xendoo

What happens if you’re getting a refund (you don’t owe taxes) If you missed the tax filing deadline but are due a refund, you’re in luck—there is no penalty. The government is happy to hold on to your money, interest-free, for a bit longer. Both can help you navigate the complexities of late tax filing.

Tax 52
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The Small Business Guide to Revenue vs. Profit

xendoo

Your bookkeeper or accounting software will typically handle this calculation and report it on your company’s income statement. For example, you may go a step further and factor in the EBIT (earnings before interest and taxes), depreciation, amortization, rent, and business taxes into the equation.