LyfeAccounting

MAY 21, 2021

Examples include the money you spend on: researching your business, getting an office, ordering business cards, training yourself or your staff, and. Organizational costs are the costs to incorporate your LLC such as legal fees and state fees. Legal and Professional Services. everything in between. Salaries and Benefits.

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xendoo

JANUARY 11, 2021

They know they’re probably making mistakes and missing opportunities that a pro would spot right away, but they don’t know if accounting services will save more than they cost. “What are the most affordable small business accountant fees?” Identify opportunities to improve profit margin and business growth.

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AccountingDepartment

JUNE 16, 2021

In short, liability is almost always necessary for a business to excel. So don’t misconstrue business liabilities with legal liabilities. Legal liabilities have negative connotations while business liabilities should be thought of in a more positive light.

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Ryan Lazanis

SEPTEMBER 1, 2023

Below are some of the best cloud accounting software for small businesses. 1) QuickBooks Online A true juggernaut in the small business accounting software space, QuickBooks Online is widely known across firms and self-employed business owners alike as one of the best accounting software products.

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LyfeAccounting

JULY 27, 2021

For example, if one property losses a lawsuit against a tenant then only that property or that LLC is going to be responsible for the legal damages. That’s why keeping track will be easier while at the same time exposing you to less legal risk. Less legal risk. More legal risk. Owning 5 or more properties.

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PYMNTS

MARCH 7, 2018

In 2016, Justworks announced its entrance into the small business accounting and legal services space via collaborations with accounting and tax company inDinero and online legal services marketplace LawTrades. Managing multiple apps and software solutions, however, can quickly overwhelm entrepreneurs.

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xendoo

APRIL 19, 2021

Whether you’re brand new to online retail and trying to decide how to set up your eCommerce business, or you’ve been around a while and simply reached the point where your DIY accounting solution just isn’t cutting it anymore, Xendoo’s innovative suite of business offerings can help you. Sign up for a free trial today.

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LyfeAccounting

MARCH 25, 2021

You see with an LLC you are able to separate your business assets from your personal assets. So if someone sues your business and you lose then the only thing that they can go after legally are assets within your business. So, it gives you this sense of security through having a legal shield.

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xendoo

MAY 9, 2021

Remember back when you had to decide on a name to register your new business, forming a limited liability company—LLC ? Now your small business has grown up thanks to your hard work and dedication. Since determining the status of your business is important to its success and potential, we’ll break it down for you.

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xendoo

FEBRUARY 15, 2022

Business tax law is often far more intricate than individual tax law. They will have an in-depth knowledge of legalities surrounding the business structure of an entity and the deductions that may be available to a given company. . Companies can benefit from the services that a tax consultant provides.

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LyfeAccounting

NOVEMBER 9, 2020

It is not meant to take the place of legal and accounting advice specific to your business. LLCs are legal entities that protect you from personal liability in the event of a lawsuit, for example. An LLC is simply a legal entity that comes with some protections for you as a business owner. S-Corp Electi on.

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xendoo

MAY 26, 2021

With a handful of exceptions, the IRS allows businesses to deduct donations to §501(c)(3) nonprofit organizations just like individuals do, including some enhanced deductions specifically for restaurants donating food. This post is intended to be used for informational purposes only and does not constitute as legal, business, or tax advice.

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LyfeAccounting

JUNE 9, 2021

But before anything else, let me mention that by no means are we giving you legal or financial advice as this post is for informational purposes only. It is NOT legally required that a lawyer prepare this for you. And if you need more help with choosing the best business entity for you, contact us today. Statement of purpose.

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xendoo

DECEMBER 14, 2020

That’s where outsourcing to a small business accounting specialist like Xendoo could be your best move. Now that your business is all brushed up and caught up, you’re ready to ring in a new year of growth and success!

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Ronika Khanna CPA,CA

JUNE 25, 2021

There are several reasons that you might decide to transition your sole proprietorship to a corporation : Growth Your business is experiencing growth that requires a more official business structure and a separate legal entity to deal with the additional complexities of growth. Change contracts, billing etc.

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LyfeAccounting

DECEMBER 1, 2020

Just don’t expect tax or legal advice. A registered agent is an individual or business that accepts tax and legal documents on behalf of your business. We can help you with your business taxes, accounting, bookkeeping and more. The post How to Incorporate a Business – 6 Easy Steps!

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LyfeAccounting

NOVEMBER 10, 2020

Meals and entertainment: Typically, can deduct 50% of any business-related meal and entertainment expenses. Professional services: These are fees associated with necessary services to run a business such as accounting , bookkeeping , and legal fees. Supplies: The cost of supplies needed to run your business.

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xendoo

SEPTEMBER 4, 2020

The small business accounting experts at Xendoo have the information you need. This post is intended to be used for informational purposes only and does not constitute as legal, business, or tax advice. Need help with your PPP loan forgiveness application or documentation?

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xendoo

MARCH 18, 2021

They can answer your questions about financial reports, cash flow, depreciation, and other accounting processes and identify opportunities to improve profit margin and business growth. Certified Public Accounts can be the financial strategist for Fortune 500 companies or advisors to neighborhood businesses.

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LyfeAccounting

MAY 27, 2021

This means that a sole proprietorship or general partnership can’t have a separate business credit history from their personal credit history. By incorporating a business or forming an LLC, you create a business that is legally separate from the owner. Read this post to learn more about how to incorporate a business.

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LyfeAccounting

JUNE 9, 2021

A quick disclaimer that this is not financial or legal advice, and you should consult with your personal CPA or lawyer regarding your specific situation. The post The Cryptocurrency Tax Loophole No One Is Talking About appeared first on Small Business Accounting & Finance Blog. Let’s dive in. Talk to us today!

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LyfeAccounting

JULY 20, 2021

An operating agreement is a legal document that outlines the rights, rules, and obligations for the internal operations of your LLC. It is there to lay ground rules and procedures for how the business owners and the managers of the business will handle decisions. Open a Business Bank Account.

income tax 52

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xendoo

JUNE 25, 2021

Xendoo specializes in small business accounting. This post is intended to be used for informational purposes only and does not constitute as legal, business, or tax advice. See for yourself with a one-month free trial.

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Accounting Insight

JUNE 27, 2022

. • Open Banking enables accountants to meet clients’ needs by matching services to the problems businesses are facing. The report outlines key steps needed to enhance adoption among accountants and small businesses. Open Banking is the gateway to real-time data, so we can make real-time business decisions.”.

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Accounting Seed

JULY 21, 2022

Good workflows help keep your startup accounting on track, and keep your business healthy. Separating Business and Personal Finance. If you start out as a small proprietor or partnership, it’s perfectly legal to mingle personal and business money. Legally, you and your startup are one entity.

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LyfeAccounting

JULY 3, 2021

Now regulations vary greatly, from state to state, so these steps shouldn’t be taken as a substitute for competent legal counsel, and please do your own research. So your registered agent can be you or someone else you appoint, it can even be an outside party like a legal team. Registered agent. Select officers and directors.

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LyfeAccounting

AUGUST 12, 2021

They are intended to minimize confusion that could happen if two or more businesses have the same name, symbol, slogan, logo, or name. . Trademark Your Business: Why Register For One? . You actually are not required to register a trademark to have some legal protection. . you establish rights called common law ownership. .

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LyfeAccounting

JULY 19, 2021

This is simply because it separates the legal liability between your personal assets and your company’s assets (aka the rental property). For example, not only can you get a mortgage under your LLC name, but you can get mortgages under other types of legal entities as well. Rehab loans. …and so on. Get in touch with us today!

Real Estate 52

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LyfeAccounting

JULY 28, 2021

This is not legally required, but will help you to justify their employment in your business. As an employer, you still have to comply with some legal requirements as you would if you hired a complete stranger. Now to help you save more on your business taxes, go ahead and talk to one of our CPA tax experts.

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LyfeAccounting

OCTOBER 16, 2020

Cons: The con of sole proprietorship is that your financial and legal situations are tied together. Pros: The major pro is that C Corporations are legal entities that shield stakeholders from personal liability and company debt. Especially because legal costs are very expense and time consuming.

accounting and finance 52

accounting and finance Start-ups Legal Tax 52

LyfeAccounting

OCTOBER 21, 2020

When you’re starting and operating your business, you’re likely going to need some help. You may need some: legal advice. an accountant. IF you meet these requirements: You are legally liable for the loan. Tax Deductible Categories. Professional services. industry consultant. Simply drop us a call or contact us here.

business tax 52

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xendoo

MARCH 16, 2022

As any established business owner will tell you, you need to treat your business as a separate entity to yourself. This means separating your business and personal finances. In fact, it is a legal requirement of LLCs and corporations to manage their business incomes in separate bank accounts.

accrual accounting 52

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LyfeAccounting

JANUARY 28, 2021

So an accredited investor is a person or a legal entity (like a financial institution or a corporation) who is allowed to participate in investments not registered with the U.S. The post Accredited Investing: Get HUGE Tax Advantages & Passive Income in 2021 appeared first on Small Business Accounting & Finance Blog.

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PYMNTS

MARCH 12, 2019

As banks and other players develop custom APIs to facilitate connectivity, even when not legally mandated to do so, other companies are deploying another strategy. ” It was the latter for Wave, which recently acquired small business account and debit card solutions provider Every. But in jurisdictions like the U.S.

payroll tax 73

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LyfeAccounting

JUNE 18, 2021

So if you’re a business taxpayer and your business is due to a refund, don’t expect an additional interest payment from the IRS. Interest is paid at the legally prescribed rate and is adjusted quarterly. appeared first on Small Business Accounting & Finance Blog.

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LyfeAccounting

FEBRUARY 14, 2021

They also tax plan which means they can help you craft a plan to actually lower your taxes legally through the tax law. On the accounting side, many small companies might choose their own books. And also if you need a CPA, we offer small business CPA services at LYFE Accounting so don’t hesitate to contact us today.

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LyfeAccounting

JANUARY 14, 2021

For guidance or advice specific to your situation, you should consult with your tax or legal counsel. As I’ve mentioned earlier, here at LYFE Accounting, we help business owners and individuals with their taxes. What happens if you don’t pay your quarterly tax payments. Note that this is only educational information.

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