Businesses
Categories: tax return preparation & filing
Categories: accountants
Categories: tax return preparation & filing
Categories: accountants
Categories: accountants
Categories: accountants
When you first open your business, your business credit score may be nonexistent. This may require you to open loans with your personal name. However, aside from these initial loans, your personal credit will have nothing to do with your business's credit. In fact, business scores are calculated with different factors.
Making money and staying in business require the same diligence, whether the economy is booming or in the death-grip of a recession. Staying in business, and even thriving, requires that businesses make money, save money, and grow. Sounds simple enough.
How should you manage your cash properly? First, you better know how much you've got, where it is, and where it's coming from. If the information is in your accountants head, that's a start. If you need to improve your cash flow, you might look at accounts receivables funding or the judicious use of credit. Read our primer on understanding cash flow.
If, like tens of thousands of individuals, you started a business last year, this year might be the first time you’ve ever needed to file business taxes. You might think that they’re just like individual taxes, but you’d be wrong. Business taxes are the Complete Works of Shakespeare. Your individual taxes are the Cliff Notes of “Where’s Waldo?”
As quoted in the Los Angeles Times (March 15, 2010)You can never eliminate that chance of being audited, because a perfect tax return will be suspicious, too (who files perfect taxes?) Company.com has ten ways to reduce your risk of an audit – we figure that most small businesses don’t have big accounts in the Caymans or Switzerland, and that if you’re reading this you haven’t run into significant tax problems in the past. Otherwise you'd know this stuff already.
Taxes can be the death of your business. Or rather, a failure to understand, or a willful underpayment, of taxes can be the death of your business. If you happen to be unlucky enough to get audited, or careless enough to underpay your taxes over a period of years, and you land yourself a $5,500, $20,000 or $150,000 tax liability, there are tax resolution services you can go to for help.
is it possible that an increase in UI taxes will cause businesses to fold? Company.com did a little digging.
If you fully understand how to apply the dozens of different classification categories for depreciating fixed assets on a double-declining basis, feel free to keep your own tax records. Of course, if you do you’re probably an accountant, so that’s not exactly fair.
Day four of Startup Boardroom presents Diane Kennedy, author of "Loopholes of the Rich," with a few words about accounting, cash flow statements and beer.
Megan Hughes, an expert on business formations, inaugurates Startup Boardroom with her answer -- if you think you've found a way to start a company without help, you're probably fooling yourself.
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