Bookkeepers and Accountants work in the same field and deal with the same set of information. They have the same goals while working for a company and support it at different levels. In simple terms, bookkeeping is more of administrative work, while accounting is more of an analysis and subjective work. Nowadays, almost every business …
The practice of entering your company’s financial activities into organized accounts on a daily basis is known as bookkeeping. Additionally, it can also refer to the various recording techniques available to businesses. Bookkeeping is a crucial part of your accounting process for a variety of reasons. If you keep transaction data up to date, you …
Businesses in 2021 are facing a troublesome time due to many socioeconomic factors. Some got affected because of the ongoing Coronavirus pandemic, while others are suffering due to a rapid evolution of technology. Now is the time to save money in your business as it will take a while for things to get back to …
Top 7 Ideas For Small Businesses To Save Money In 2021 Read More »
Running a business is no child’s play, especially when you are relatively new in the market. On top of that, the responsibilities and risks make it burdensome, resulting in sleepless nights. One of the significant challenges that a business owner or CEO faces is managing employee expenses. To run an organization successfully, it is important …
Bookkeeping services that let you have virtual or remote bookkeepers work for your business are known as online bookkeeping. Like any online service, it’s understandable that some will have their doubts about its efficiency and safety, yet over the years online bookkeeping has only proven to be more beneficial than on-site bookkeepers. What is A …
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The American Rescue Plan Act of 2021 significantly changes the reporting threshold associated with Form 1099-K. This change will substantially increase the number of Forms 1099-K required to be filed with the IRS and furnished to recipients by third-party settlement organizations (TPSOs) and their electronic payment facilitators (EPFs). Modified Reporting Threshold Prior to the update, …
What You Need To Know About The 1099-K Reporting Threshold Read More »
Filing taxes is quite a nerve-biting task in itself but what if you got late in completing the process? We know from what stress you will go through. Lots and lots of questions run through your mind when you miss meeting the income tax return deadline. These can be related to filing a tax extension, …
Hiring an accounting firm will be an ideal solution for small businesses and startups. In 2021, there are about 400 million small and medium-sized businesses in the world, and accounting forms their backbone. Managing your business finances requires a fundamental understanding of numbers, budgeting, forecasting, tax planning, and risk management for best financial performance. While …
5 Reasons To Hire An Accounting Firm For Your Business In 2021 Read More »
We understand how caught up you may feel while running an e-commerce business. You will have to live on the pinnacle of your transactions, inventory, administrative fees, and what’s not. We know that due to so much work pressure and being occupied among these tasks, your accounting and bookkeeping responsibilities must have taken a back …
What Type Of Accountant Your E-Commerce Business Need? Read More »
Whether you’re just considering a new business idea or already act as a sole proprietorship, incorporating a business is a good decision. There are several benefits to incorporating your business, all of which you should fully understand before you decide what’s best for your business. Following are some of the must relevant benefits of incorporating …
Incorporation is a Big Milestone for your Business Read More »
by PasFirm