(small business mistake – 3 minute read) Congratulations on starting a business! It’s a huge step for many people. In my line of work as an accountant, I’ve helped many new business owners start their own business. Along the way, I’ve seen many of the common mistakes that people make that hinder their ability to
You may find the original article posted here. Short answer: Yes, you can do your own accounting. Just like you can fix your own plumbing, cut your own hair, or repair your own car, there’s nothing legally stopping you from managing your own bookkeeping and business finances. But, and this is important, DIY accounting comes
Hi there, accounting fans! This article was originally written here. If you’re a regular reader of this blog, you already know we carry a very strong anti-credit banner.But let’s be fair, not all of it is evil. Sometimes is actually good. Some can help you grow. And some…well, some will drag your wallet into a
This article was originally published here. “If my business runs at a loss, that means I don’t have to pay taxes… right?” Technically, yes. But also…not really.Let’s look at this further in depth to explain it better. How Business Taxes Actually Work At its core, tax is calculated as a percentage of your profit which