article thumbnail

Why Your Accounting/ERP System Is the Key To Successful Business Tax Preparation 

Withum

It’s that time of year – welcome to your tax season activities. Struggling With Tax Compliance and Data Management? Inter-company and Transfer Pricing Transactions ; distinguishing entries between related entities or groups for proper reporting on consolidated tax returns. Lessen the external auditor’s (e.g.,

article thumbnail

How Much Is a Tax Consultant?

xendoo

If you own a business or earn a significant income, you may be wondering how to manage your tax situation and how much a tax consultant costs. There is a lot to consider when weighing the costs and benefits of hiring a tax consultant. A tax consultant can help with any of these issues. Read on to find out.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Steps to Clean Up Accounting Records: A Checklist

xendoo

Be Ready for Tax Season. No one enjoys tax season (not even accountants), but paying taxes is a required part of keeping your business tax compliant. If you don’t have accurate records, you may miss out on deductions or income on your tax returns. A virtual bookkeeper can help you automate that and more.

Account 111
article thumbnail

Accounting Basics for Small Business: A Simple Guide

Snyder

Basic steps in accounting for small businesses. Open a business bank account. Go through business bookkeeping basics. Track your small business profit and expenses. Get to know small business tax obligations and procedures. Small business accounting software to help you stay on top of accounting.

article thumbnail

Ecommerce Accounting 101

xendoo

Tracking your financial matters helps you understand the health of your business and ultimately allows you to make decisions based on real numbers, not just feelings. Ecommerce businesses face their own unique set of challenges—retaining customers and finding the right mix of technology, to name a few. Research your tax obligations.

Account 115
article thumbnail

Optimizing Your Firm’s Overhead Rate

Withum

Items such as employee bonuses, bank fees, and business taxes are often excluded from the overhead rate calculation, when in actuality, a portion of those expenses may be allowable. Accounting software often presents limitations, such as a single expense account for all payroll expenses.

article thumbnail

Why and How to Transition from a Sole Proprietorship to a Corporation

Ronika Khanna CPA,CA

Registering and maintaining a sole proprietorship is fairly straightforward ; many business owners don’t put much thought into the financial aspects of it until tax time (when the mad scramble ensues). Alternatively, a customer or client might only do business with a corporation. Change contracts, billing etc.

payroll 52