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(6) Accounting Terms Business Owners Should Know:

Understanding your finances can be confusing at first, but to add some clarity, here are the top six accounting terms to know and understand your business finances: Assets Materials that are directly owned by a company and have future economic values. In other words, an asset can be easily turned [...]

By |2018-11-20T13:12:17+00:00November 12th, 2018|Blog|0 Comments

Accounting Software: QuickBooks Online vs. Xero

We get asked all the time, which accounting software is better for my business, Quickbooks Online or Xero? If you’re new in the business world, it might be hard to decide which software is better for you. So here’s a short overview of QuickBooks Online and Xero. Key Aspects to [...]

By |2018-10-31T21:23:38+00:00October 31st, 2018|Blog|0 Comments

DCAA Compliance Accounting

DCAA is the “Defense Contract Audit Agency” which works under the Department of Defense (DoD). DCAA helps enforce rules and guidelines for contractors and agencies created by the Federal Acquisition Regulation (FAR) and Cost Accounting Standards (CAS). The primary role of DCAA is to ensure tax dollars are being spent wisely [...]

By |2019-04-15T12:56:26+00:00October 22nd, 2018|Blog|0 Comments

2018 Report Consolidation for Small Business Owners

While the majority of businesses focus on their respective March and April Deadlines, it is important to remember that accounting and bookkeeping for small businesses starts earlier. The first filing for most businesses is typically for 1099’s (Not sure if you have 1099's? Check out our explanation of employees vs [...]

By |2018-10-30T04:46:47+00:00October 2nd, 2018|Blog|0 Comments

Accounting Software: Tracking Your Bottom Line

Tracking your business receipts and transactions can be daunting and tedious. From time tracking to ensuring the safety of your information, having the right tools can help understanding your bottom line easier, managing these transactions more efficient, and help scaling up much easier. As a small business owner, freelancer, entrepreneur, [...]

By |2018-10-30T05:07:18+00:00September 18th, 2018|Blog|0 Comments

Employees VS. Contractors

Employees VS. Contractors Many employers fail to identify the difference between an Employee and an Independent Contractor administratively and when they are doing accounting or tax prep.  What is the proper way to classify a worker? Knowing the difference can help save you hassles and delays but also the best [...]

By |2018-10-30T05:18:44+00:00September 7th, 2018|Blog|0 Comments

How to Record a Business Expense

It's no news that record keeping is important for all businesses to deduct their business expenses. These business expenses must be able to have certain elements of information. The best method is to maintain adequate evidence by establishing your books and keeping them up to date.  (3) General rules to [...]

By |2018-10-30T05:22:30+00:00August 10th, 2018|Blog|0 Comments

Top 5 Business Tax Reforms You Should Know About

On December 22, 2017, President Trump signed the "Tax Cuts and Job Act" reform into law. The changes will affect both individuals and businesses in the coming years, effective as of January 1, 2018. The tax reform not only reduces corporate taxes, but will affect businesses everywhere in regards to [...]

By |2018-08-10T05:59:40+00:00February 7th, 2018|Blog|0 Comments