LyfeAccounting

NOVEMBER 13, 2020

At LYFE Accounting, we’ve helped companies with their bookkeeping and accounting processes. We’ve helped companies with preparing their financial statements. And we’ve helped companies save a lot of money with tax preparations. So if you’re in a business, then understanding your financials are really important.

bookkeeping 52

bookkeeping Account accountant accounted 52

LyfeAccounting

JANUARY 12, 2021

You should hold on to supporting documents for at least 6 years since this is how far back the IRS can audit your tax returns. Supporting documents includes: invoices, receipts, bank statements, wage records, tax filings. Why is accounting software valuable for you? The post 6 Bookkeeping Tips for Your Business!

bookkeeping 52

bookkeeping accounting and finance accounting software Finance 52

Going Concern

OCTOBER 11, 2022

Small business has unique needs for accounting services: primarily tax and advising, and secondarily day-to-day accounting needs to act as de-facto controllers and decision makers. Smaller firms cannot pay competitive salaries because the graduates must be expensively retrained in small business accounting needs.

Education 82

Education Account accountant accounted 82

Snyder

JANUARY 3, 2023

All small business owners need to be familiar with basic accounting and bookkeeping, as it gives them a clear picture of the state of their finances, allows them to make informed business decisions, and lets them react to any adverse changes faster. Small business accounting basics.

accounting basics 52

accounting basics basic accounting bookkeeping Account 52

Snyder

JUNE 20, 2022

So for a small business owner, it’s vital to understand accounting so they can understand their business and also be able to communicate with banks and investors. What is small business accounting? Basic steps in accounting for small businesses. Open a business bank account.

accounting basics 52

accounting basics general ledger Account accountant 52

PYMNTS

MARCH 19, 2020

Automation in small business accounting can certainly be beneficial, but when a cloud-based accounting platform remains within the confines of its own interface, there can be unexpected friction that prevents business owners from gaining real-time financial insights. ” A Waterfall Effect.

Account 62

Account accountant accounted Technology 62

LyfeAccounting

NOVEMBER 3, 2020

It was our first time filing his taxes, so we asked to see his financial statements and tax returns from prior years. For one, he reported his total revenue as his income on his tax return in prior years. This means that he had deducted absolutely NOTHING on his tax returns.

Tax 52

Tax tax return business tax accounting and finance 52

Snyder

JANUARY 16, 2023

Clutch report states that 95% of small businesses are confident in the accuracy of their financial statements, and 30% of business owners also believe that they’re overpaying taxes. Whether an error results in underpaying or overpaying on taxes, your business experiences unnecessary losses.

Account 52

Account accountant accounted bookkeeping 52

LyfeAccounting

JANUARY 13, 2021

You should already have your business expenses organized in financial statements and categorized by eligible expenses. For example, ideally your income statement would list all of your advertising expenses, overhead expenses, and so on by line item. The post What are Tax Deductions? | Contact us here.

CPA 52

CPA Tax income tax bookkeeping 52

LyfeAccounting

JULY 6, 2021

Business financials – like tax returns, profit and loss statements, cash flow statements , and balance sheets. Here is where you learn about the company’s revenue, expenses, profitability, outstanding debt, accounts receivable, business assets and other pertinent information.

Non-Profits 52

Non-Profits accounting and finance Sales Finance 52