Alternatives To Quickbooks
Introduction: The Search for the Perfect QuickBooks Alternative Finding the ideal accounting software is comparable to finding a buried treasure chest in the hectic world of small business management. Effective financial management is the key to success for entrepreneurs and owners of small businesses. Since it is so widely used, QuickBooks has long been the […]
How To Calculate Retained Earnings
Understanding how earnings are retained is essential for determining your business’s financial health. Retained earnings are the total profits that your business has held onto throughout time, and they are crucial in assessing its potential for development. This article will go over the retained earnings formula, explain its role in financial statements, and walk you […]
What Is A CPA
The professional designation CPA, which stands for Certified Public Accountant, is given to accountants with the necessary levels of education, work experience, and CPA exam success. Financial planning, tax preparation, and auditing are just a few of the many services offered by CPAs to private individuals, corporations, and nonprofits. To keep their accreditation, they must […]
Bookkeeper vs Accountant
Accountants and bookkeepers both serve critical roles in the management of a company’s financial records. An accountant has a broader responsibility and oversees analyzing financial data, generating financial statements, and offering strategic financial advice to assist a company in making educated decisions. Accountants can also help with tax preparation and compliance. While all occupations entail […]
Reopening concepts: What business owners should consider
A widely circulated article about the COVID-19 pandemic, written by author Tomas Pueyo in March, described efforts to cope with the crisis as “the hammer and the dance.” The hammer was the abrupt shutdown of most businesses and institutions; the dance is the slow reopening of them — figuratively tiptoeing out to see whether day-to-day […]
PPP Flexibility Act eases rules for borrowers coping with COVID-19
As you may recall, the Small Business Administration (SBA) launched the Paycheck Protection Program (PPP) back in April to help companies reeling from the economic impact of the COVID-19 pandemic. Created under a provision of the Coronavirus Aid, Relief and Economic Security (CARES) Act, the PPP is available to U.S. businesses with fewer than 500 […]
Adjust your expectations of business interruption coverage
A natural place to turn when disaster strikes is insurance. The very reason you pay premiums and deal with the paperwork is to have these risk management policies in place when necessary. But, when it comes to business interruption coverage, you may have to adjust your expectations if you intend to file a claim because […]
The CARES Act liberalizes net operating losses
The Coronavirus Aid, Relief, and Economic Security (CARES) Act eliminates some of the tax-revenue-generating provisions included in previous tax laws. Here’s a look at how the rules for claiming certain tax losses have been modified to provide businesses with relief from the novel coronavirus (COVID-19) crisis. NOL deductions Basically, you may be able to benefit […]
SBA offering loans to small businesses hit hard by COVID-19
Every company has faced unprecedented challenges in adjusting to life following the widespread outbreak of the coronavirus (COVID-19). Small businesses face particular difficulties in that, by definition, their resources — human, capital, and otherwise — are limited. If this describes your company, one place you can look to for some assistance is the Small Business […]
Do you run your business from home? You might be eligible for home office deductions
If you’re self-employed and work out of an office in your home, you may be entitled to home office deductions. However, you must satisfy strict rules. If you qualify, you can deduct the “direct expenses” of the home office. This includes the costs of painting or repairing the home office and depreciation deductions for furniture […]
