With tax season quickly approaching, it’s a great time to take a look at your projected tax return and decide on a tax strategy that fits your personal situation. Choosing the right deductions is one way taxpayers can plan for their federal income tax liability to reduce taxable income and, potentially, achieve a larger return…
What is Cost Accounting and Why Does It Matter?
At its core, cost accounting takes a granular look at the fixed and variable expenses that are unique to a specific business. These expenses are compared to production rates and associated profit margins in order to provide management with options when it comes to product opportunities, employee productivity, divisions of labor, and the overall effectiveness of operations and tasks…
Why You Should File ALL Returns Electronically and How QuickBooks Can Help
As a business owner, filing your tax returns can be a burdensome process. While the last thing you probably want to do is learn a new system to file your returns, it just might be the key to streamlining the filing process and accurately maintaining your data entry. Filing your returns electronically has many benefits, and there are a variety of software options out there to help get the job done. We’re partial to QuickBooks due to the platform’s ability to pull relevant information straight from your financial reports and file your returns from one location….
Why You Should be Considering Next Year's Filing Status Now
Filing your tax return often involves recording and entering a lot of information about your life and your earnings. If you’re someone who dreads sitting down and getting it all done, you might benefit from shifting your mindset. Instead of thinking of tax time as a few months out of the year, consider viewing your taxes as a part of your finances that can evolve and change at any time. One such area that’s often subject to change, is your filing status…
Leveraging Capital Structures
A capital structure refers to the way a corporation organizes its finances to maximize growth. A corporation’s capital structure will involve the strategic use of funds to maximize profits and minimize debt. The overall goal is establishing a financially safe, or at least comfortable, balance between debt and equity. Leveraging different capital structures allows a business to establish its value and determine the best source of primary funds…
The Importance of Financial Statements
Small business owners who are keeping a close eye on their financials will always perform at a higher level than those who don’t. Having a handle on your financial performance gives you the means to respond to cash flow needs, inventory shortages, and even employee inefficiencies with timeliness and precision….
Why QuickBooks?
Whether you’re a small business owner or handling the bookkeeping for a larger organization, you understand firsthand the importance of maintaining accurate, detailed, and up-to-date financials. There are many software options to choose from to help you achieve accuracy, but not all of them boast the reputation and wide-usage of QuickBooks Online by Intuit…..