When your child turns 18, you may experience a number of changes as your child becomes a legal adult. Do these changes include your income taxes? Very likely, they do. And one of the biggest changes is usually whether or not you can claim your adult child as a dependent. To help you determine the effects on your tax bill this year and beyond, here's what every parent needs to know.
23 November 2022
Whether large or small, operating a business is a major labor of love. While things tend to become more streamlined when your organization grows, the beginning stages require a lot of baby steps as you learn all about what it takes to keep things afloat. Because your business is still in the beginning stage of things, you are probably handling many facets on the administrative side by yourself. This is perfectly fine when it comes to ordering inventory and overseeing shipments.
5 October 2022
As a business owner, you probably already know that payroll processing is a pretty complex task. Many things need to be taken into account, from ensuring accurate paychecks to filing the appropriate taxes. This article outlines a few of the most important things accountants do during payroll processing. Review Employee Payroll Information Payroll information can sometimes be confusing or difficult to interpret. That's why you should have a professional accountant on your team who can review this information and make sure that it's accurate and up to date.
21 July 2022
Many small business owners don't have the time or resources to hire a full-time accountant. That's where working with a public accountant can be helpful. They can provide important financial advice and services to help your business grow. But what services should you expect from your public accountant? Take a look at the different services that a certified public accountant can offer to get the most out of your relationship with them.
13 June 2022
Does your small business conduct a quarterly bookkeeping review? If not, now is the time to start. You'll get better control over your finances, make more informed decisions, and avoid unwanted fees and problems. Here's what you might include in a quarterly review. 1. Record Transactions and Reconciliations First, if you haven't kept up with all of your data entry, recording all transactions, and reconciling accounts, get this done at least once per quarter.
31 March 2022
If you want your business to thrive and be profitable, you'll need to ensure your financial information is in check. Making sound financial decisions for your business's future can be difficult without accurate statements. Business accounting services can help you keep correct records and plan well for your company's growth. These professionals will also ensure all the aspects of running your business are done professionally to protect it from encountering setbacks along the way.
14 February 2022
Accurate bookkeeping is central to the success of all businesses. For custom home builders, a specialized approach to bookkeeping can help provide a more detailed and accurate overview of the company's financial standing. Here are three tips that you can use to improve the way you track and record your construction company's financial transactions in the future. Use Multiple Accounts One way that you can improve the overall quality of your company's bookkeeping efforts is to set up multiple bank accounts.
16 December 2021