How much will a traditional IRA reduce your taxes? Tax planning is a hot topic right now given the recent reveal of tax payments made by President Trump, however, tax planning should always be a hot topic if you are a business owner. One avenue of tax planning that is often ignored is the benefits of a traditional IRA. Let’s dive into this topic. There are
Starting a business is not only exciting and rewarding but it also comes with a learning curve if you’ve never been on the financial side of business operations. To help you with this learning curve, my team and I have compiled 9 bookkeeping terms that every business owner must know. We consider these must-know terms since they are the most used terms in accounting systems and
As a business owner, you wear many hats when it comes to day to day management. Bookkeeping should not be one of those “tasks” that land on your to-do list. If you are a business owner doing your own books, here are 3 signs that you need to start outsourcing now. 3 Signs You Need To Outsource Your Bookkeeping Now 1. You don’t have a budget
Tax planning and tax prep are two services that are often confused, used interchangeably, and not services that every bookkeeper provides. This blog post is going to dive into the 3 main differences between the two so you can focus on the exact services your business needs. The first major difference is this: Planning is just as it sounds – planning your business expenses and investments
Proper bookkeeping is a critical aspect of business operations. Accurate accounting not only allows for quick decision making but also helps with staying on budget and avoid overpaying on taxes. Who do you get to help you with this? A bookkeeper! Here are 10 tasks that a bookkeeper can do for your business: Record financial transactions Reconcile cash accounts Accounts receivable and accounts payable management Account
When it’s time to hand off your books to a pro, there are a few pieces of paperwork you’ll need to provide. These are vital financial documents your bookkeeper will need to get you started off on the right foot. These documents will also be important when it comes to tax time, so getting ahead of the curve is the best way to stay fully prepared.
How can you make more money in your business without doing more work? No, it’s not a pipe dream. It’s completely possible and you probably already have the tools in place to get started. Don’t worry, this isn’t a clickbait article. Here are 3 things YOU can implement today and make more money in your business! 1. Recommend programs you use to clients with an affiliate
Every decision you make in business has a financial consequence. Some consequences are good, and some can impact you from scaling to the profit levels you’re hoping for. Keeping your books in order and knowing where your business stands financially allows you to make smart business decisions, be confident that you’re profitable and will enable you to do what you do best: grow your small business!
Balanced Ledger Blog
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