outsourcing accounting

Outsourcing Your Small Business Accounting Procedures

Outsourcing small business accounting is becoming more frequent as it allows the small business owner to concentrate on hiring and supervising marketing and operational staff while knowing that the bookkeeping and accounting is being looked after by qualified accountants. Full reporting can be achieved by the accounting firm and reviewed by management with the accountant. The accurate and timely information should promote better decisions which result in higher profits for…

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name a business

How to Name a Business

How to name a business correctly is important in making it easy for potential customers to associate your products and/or services with your name. This is called branding. Xerox was very successful in branding its product, so much so, that people still stay xerox a copy for me when they also mean make a photocopy. The business name should be easy to say and easy to remember and be unique…

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AICPA

Links to Accounting Societies and Organizations

National Accounting Organizations American Accounting Association American Institute of Certified Public Accountants        (AICPA) American Society of        Women Accountants (ASWA) ASWA – North Cascades Chapter Association of Certified        Fraud Examiners (ACFE) Information Systems Audit and Control Association (ISACA) Institute of Internal Auditors (IIA) Institute of Management Accountants (IMA) IS Financial Management Association   National/International Regulatory Commissions Australian Accounting Standards Board Committee of Sponsoring        Organizations of the Treadway…

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find a good lawyer

Lawyers

Lawyers are a vital addition to your business support team. Their expertise can help you and your business in many ways such as the following: Incorporate your business Draft legal agreements including sales contracts, etc. Draft shareholders agreements Create a will Register property Advise on areas of risk Represent on litigation matters Register patents and trade names   It is important to hire a corporation lawyer who has the business…

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business insurance

Insurance for a Business

Small Business Insurance requirements should be reviewed with your qualified insurance agent to determine the following risk areas: Commercial property insurance General liability insurance Business interruption insurance Crime insurance   The needs of each small business owner will vary between businesses; so it is necessary to get qualified guidance in this area. You should be able to save on premiums if you acquire your insurance coverage from one source. But…

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tax prepatation

INCOME TAX PREPARATION

Income Tax Preparation must be completed accurately in order to prevent reassessments from the tax office as well as minimize your tax burden. If you need a new tax preparer, then checkout the firms advertised on this website. Tax planning will benefit in minimizing taxes especially if a business is associated with the individual taxpayer. For example, it may be feasible to receive dividends, instead of salary from your small…

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start a bookkeeping business

How To Start A Bookkeeping Service

How to start a Bookkeeping service has become                         popular because the business can be a home based and takes little capital to start. You just need bookkeeping clients and a computer along with the know how about bookkeeping. There are hazards you have to watch out for in the bookkeeping business, a few of them are mentioned below:…

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bookkeeper

How to Find a Good Accountant

The best advice I can give as a CPA is to shop around. Your Bookkeeper and Accountant are vital components to your business team and must be competent. A few Key characteristics you will want to look for include the following:   Good References from existing clients Attitude of bookkeeper towards you and the tax office How organized is the bookkeepers office? Are you comfortable with the prospective bookkeeper? Does the…

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home based business

Finding Home Based Business Opportunities

Home based business opportunities are abundant and only need to be examined with the right criteria to find an opportunity that is right for you. Consider the following factors when choosing a home based business opportunity: Is total investment within your available resources Demand for product or service Knowledge and/or passion about product or service Time required to operate home based business Level of computer skills needed Expected return on…

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Famous People Who Studied Accounting

There are many well-known, successful people who are CPAs or started their careers as one. How many do you know? Gibby Haynes, Butthole Surfers band member, was a star   accounting and economics student atTrinity  University inSan Antonio. Chuck “The Iceman” Liddell graduated from Cal   Poly University-San Luis Opispo with a degree in business and accounting.   Chuck has since won an Ultimate Fighting Championship and was a 2009…

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Double Entry Bookkeeping

The accounting records should be kept on a double entry system basis which means that each bookkeeping entry has a debit entry and an equal credit entry. Increases to assets are made with debit entries, while increases to liabilities and equity are made with credit entries. This is the opposite logic used by your banker who calls an increase in your bank account a credit entry. This logic is normal…

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Documents And Information To Take To Your Tax Preparer In USA

The following list of documents needed covers the basic items, additional documents and information will be needed if you had business income and sold a business during the year. You should consult with your accountant in all complex tax situations: Employment information slips Investment information slips for interest, dividends, capital   gains Broker summary information on gains/losses on stock transactions Copy of prior year’s return Dates of birth of spouse…

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