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Small business owners have a lot on their plates to take care of. They multitask with various business operations like sales, customer services, HR, marketing, bookkeeping, and more. Tax season can make everything complicated and filing an inaccurate tax return can trigger an audit. IRS audits can be a huge headache, especially for small business […]

If you’re an employee of an organization, you won’t have to worry about calculating, withholding, and remitting taxes for your wages. Your employer will take care of all those activities and report them to respected government authorities. Estimated taxes come in when you are self-employed or your income isn’t taxed. In this case, you may

Choosing the right business entity is one of the basic things to do while starting a new business. When it comes to small businesses, sole proprietorship and LLC are the major options to choose from. But most business owners it is often confusing to choose what is best for their business. It is important to

A bookkeeper is someone who keeps track of all the financial transactions of your business. They organize, collect and record all the financial data in general ledgers. This includes sales, purchases, payments, receipts, etc. All these are recorded in a standard way so anyone with accounting knowledge can access them. Most small business owners try

As a business owner, being able to understand the financial statements of your business is one of the key skills you need to possess. It helps you get a deeper understanding of the financial health of the business. The information stated in the financial statements is vital for scaling the company, understanding growth opportunities, making