Monthly Archives

April 2021

quickbooks

10 Reasons Why QuickBooks Is the Best Accounting Software for Small Businesses

By Business Advice

When you run a small business, you rarely have extra time on your hands. You’re always looking for ways to increase efficiency, while still being cost-effective. It’s important to choose the right tools and products to achieve those goals. One critical factor of running a business is having the means to manage, track, and report your accounting functions. Invoicing, payroll, inventory, and reporting are all part of an accounting system that must be managed. That’s why having a robust, easy-to-use accounting…

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accounting cycle

8 Steps in the Accounting Cycle

By Business Advice

Running a business of any size is a complex task. Successful business owners must juggle a variety of tasks each day including customer service, managing employees, marketing, and bookkeeping tasks. Keeping track of bookkeeping may seem tedious, but lost opportunities and lost money can be devastating for small businesses. According to the Chamber of Commerce, most small businesses fail because of poor cash flow, poor planning, and bad management practices. These problems can be avoided by developing a sound business…

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tax extension

Does the Federal Tax Extension Pertain to You?

By Tax Advice

You’re probably aware that the Internal Revenue Service has granted individuals and certain businesses an extension to filing their tax returns for 2020. But does it apply to your small business? The short answer is, it depends.The IRS has indeed extended the filing deadline for 2020 tax returns from Apr 15, 2021 to May 17, 2021. However, for businesses, the extension only applies to businesses classified as sole proprietorships and single owner LLCs. All other business structures are still subject…

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