AccountingDepartment
JUNE 16, 2021
Comparing your actual spending against budget goals is a basic strategy for preparing for future growth. For instance, comparisons between budget and actual variances provide an accurate review of spending habits and income patterns. This review provides a valuable tool that business owners use every day to improve forecasting efforts and evaluate individual cost center performance.
RogerRossmeisl
JUNE 16, 2021
If your business is organized as a sole proprietorship or as a wholly owned limited liability company (LLC), you’re subject to both income tax and self-employment tax. There may be a way to cut your tax bill by conducting business as an S corporation. Fundamentals of self-employment tax The self-employment tax is imposed on 92.35% of self-employment income at a 12.4% rate for Social Security up to a certain maximum ($142,800 for 2021) and at a 2.9% rate for Medicare.
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AccountingDepartment
JUNE 16, 2021
Business liabilities are best defined as the financial obligations or responsibilities of a business. Liabilities should not be construed as a negative. Rather, they are a necessary obligation that proves essential to the company’s progression. In short, liability is almost always necessary for a business to excel. So don’t misconstrue business liabilities with legal liabilities.
RitaKeller
JUNE 16, 2021
“The climb might be tough and challenging, but the view is worth it. There is a purpose for that pain; you just can’t always see it right away.” – Victoria Arlen. I received the following press release from the Illinois CPA Society. They are unveiling the findings from research they have done relating to the decline in CPA candidates.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
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