Victims of Tropical Storm Imelda in parts of Texas, including the Houston area, have until Jan. 31, 2020, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today. The IRS is offering this relief to any area designated by the Federal Emergency Management Agency (FEMA) as qualifying… Read More

Hands up if you can name a cool bookkeeping fact? Bookkeeping can be quite a tough profession at times, but if you’re looking for a little light entertainment, there are many truly interesting and exciting facts about both accounting and bookkeeping that can help keep you inspired. Below is a collection of 7 cool facts… Read More

Tax season catches the general public’s eye, and the future of auditing is very much a high-profile issue these days, but the third pillar of traditional accounting practices, bookkeeping, is facing its own changes and challenges. Those changes are being driven by many of the same factors — particularly technology and changing client demands —… Read More

Traditional bookkeeping was performed using one of two systems. Accountants and bookkeepers used the systems to manually calculate company books and present financial statements in accordance with federal regulations. The two main systems still exist in today’s digital era, but it’s much easier to perform bookkeeping tasks for your company on the computer than by… Read More

Are you one of those small business owners who just love poring over spreadsheets? Me neither. Yes, your business’s books are a scorecard of how well you’re doing—but if you’re not a “numbers person,” doing your bookkeeping may sound as appealing as a root canal. Still other business owners mean to go over their business… Read More

The dream of being an entrepreneur appeals to many people, but starting your own business from the bottom up can be a daunting prospect. In this article, we’ll look at some alternatives that deliver many of the benefits while avoiding some of the drawbacks to starting a business. Invest in Other People’s Startups Although it doesn’t… Read More

To succeed in business today, you need to be flexible and have good planning and organizational skills. Many people start a business thinking that they’ll turn on their computers or open their doors and start making money, only to find that making money in a business is much more difficult than they thought. You can avoid… Read More

When it comes to small business accounting, most people know that it is important to keep your records updated for taxes. However, there are many more benefits from small business accounting that you can use to grow, improve and expand your business. Here are some of the most important accounting reports for your small business that you should… Read More

What is Bookkeeping? And Why Is It So Important? Bookkeeping—the systematic recording and organization of a company’s financial transactions—plays an essential role in any business’ financial health. A clear understanding of your finances empowers business owners to make informed decisions and reduces the risk of mismanaging funds. Even so, it’s a tedious, complicated, and often dreaded task.… Read More

Which expenses are business and which are personal? You might think it’s obvious, but your view and the IRS view may differ. These days business and personal can often seem mixed up, such as when you do entertaining, try to motivate employees, go on combined business and work trips, and more. Even lawsuits can seem… Read More