Accounting Advice

Whether you’re planning to retire or move into another line of work, the time may come when you choose to sell your business. Taking the time to plan your strategy now is essential to ensure that everything goes smoothly when it’s time to transfer ownership to the buyer.   Does Your Estate Plan Include the Use of Trusts? Assuming you have already established an estate plan, it’s a good idea to incorporate one or more trusts into it. Trusts offer…

Many business owners would rather do just about anything else instead of creating a budget. At the same time, they know how essential it is to reign in expenses and ensure that the company remains profitable. Setting priorities for the business is another important aspect of creating a budget. It lets all employees know with one glance which things are the most important things to spend money on as well as the things that can wait until cash flow improves….

When you decided to start a business, you did so because you felt passionate about offering a unique product or service. It might have never occurred to you how much accounting and bookkeeping work you would need to do as well. Unfortunately, some new business owners become so overwhelmed by financial tasks that they ignore them or do them incorrectly. Not only can this lead to prompt business failure, it can cause tax problems with long-term implications.   Separate Your…

It’s very important that you choose the right company structure when starting out in the business world. There can be a great many impacts on your company which are all devoutly derived from the structure that you choose to do business under. For instance, your taxes will be strongly affected, your ability to raise money for the company will be affected, and if you happen to be sued, company structure will have strong implications there also. In order to make…