Right from 2021, IRS has been steadily making changes in 1099s & W-2s to make the filing more efficient and accurate in terms of compliance and reporting. While it has updated 1099-MISC, 1099-NEC, it has also made quite a few changes to 1099-K as well. As a trusted remote accounting firm that specializes in 1099 and […]
More income doesn’t necessarily mean a high tax rate especially when you have a tax consultant or financial advisor who can help you manoeuvre the menacing federal tax policies. There are plenty of tax reductions strategies one can employ to reduce their tax burden which most high-income earners are not aware of. So in this […]
What do you think is the most common characteristic of small and medium businesses on a growth path? Sales, yes, revenue almost. But most small and medium businesses who score both, often face growth problems due to a variety of reasons. And the most common hurdle every business face in their growth stages is revenue […]
If you are a small business owner then you are well aware of how busy year-end can be when it comes to having your books balanced. We understand you have to juggle multiple responsibilities and accounting is not exactly your top priority. But if you have been through year-ends in the past then we know […]
The end of the financial year can be the most daunting period for small businesses when it comes to bookkeeping and accounting. With so many things on their plate, a small business owner had to don many hats to take care of day to day business and this naturally can strain the bookkeeping and accounting […]
A business owner need not have expertise in bookkeeping and accounting but he/she must know enough to swift through these processes. And this know-how should start with understanding the basic accounting aspects and terminology involved in the day to day processes. However knowing only the accounting terms doesn’t help unless one understands the context and […]
Bookkeeping is a fundamental aspect of accounting that is easy to make mistakes, especially for small and medium businesses that cannot afford time and consistency. So how do you improve your bookkeeping process and reduce the chance of mistakes in bookkeeping? Simple, you know them beforehand. As a leading remote accounting firm that specializes in […]
Post COVID-19 every business’s goal is to make the right use of advanced tools to gain as much benefit as possible – especially when it comes to Accounts Payable, a vulnerable accounting process for many businesses. And outsourcing is the most simple and effective way to strengthen this vulnerable area of an accounting process. But […]
Keeping accurate financial records not only give you greater visibility of current position but also helps entrepreneurs discover more opportunities for business growth. But more importantly, solid bookkeeping and accounting sheds light on the possible financial risks and helps entrepreneurs control unnecessary expenses. Bookkeeping & Accounting for Startups– Not Easy to Juggle: Bank statements, credit […]
The pandemic that struck in early 2020 has ravaged the entire economy with its ripple effects across every sector of industry. Though few sectors had to cop severe blows compared to others, we all can agree that cash flow has been a major problem for everyone in the market. Sales, Accounts Receivable & Accounts Payable […]