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Year End Accounting Checklist: How To Close the Fiscal Year Year end is here, and it’s time to get your QuickBooks year end accounting checklist ready! While it may seem like it came out of nowhere, it’s important to be prepared. Many businesses find themselves overwhelmed with financial tasks and time management when closing the…

  Discover the Accounting Ledger: Your Business Financial Command Center An accounting ledger, often referred to as a general ledger, serves as the primary repository for your business financial position. It acts as a comprehensive log of all financial activities and serves as the basis for generating various reports, such as balance sheets and income…

Do you find yourself dedicating too much time to managing your finances? Statistics show the average small business owner spends 21 hours per week or more on accounting tasks. Fortunately, the plethora of online and virtual bookkeeping services has made it more accessible than ever to get help with bookkeeping and tax preparation – but...

As businesses grow and evolve, their needs change. One ongoing challenging decision is selecting the right accounting system. Numerous factors come into play, including readiness for upgrades or switches, and determining the most suitable configuration for your industry. To help you decide what would be the best fit for your business, we will be comparing…

  Each of us has a handful of businesses that have become indispensable in our lives. Imagine how you’d feel if you were told, “You’re no longer allowed to engage with them, ever”? For a lot of people the answer to this question contains a few familiar names including: Apple, Starbucks, Nordstrom, and Amazon, not…

Embarking on the entrepreneurial journey is a thrilling yet daunting prospect. Whether it’s nurturing a startup from the ground up or buying into a proven franchise model, each path offers distinct advantages and challenges. Before you make this life-altering decision, it’s crucial to weigh six key comparisons that could define your business future.

  Franchising, a business model that has paved the way for global giants and local favorites alike, often falls prey to numerous misconceptions. In this in-depth analysis, we will debunk three of the most common myths surrounding franchising, thereby illuminating why companies should consider this model to scale their businesses. Additionally, we will explore how…

Don’t wait until tax season to clean up your books. The purpose of keeping clean books isn’t to just do your taxes. Your books need to be done — but more importantly, they need to be done right. That means your balances need to tie out, your loan principal and interest need to be separated,…

  Breaking News: The IRS has postponed the implementation of the 1099-K reporting requirement, maintaining the threshold at $20,000 and 200 transactions for 2023, and will not penalize third party settlement organizations for non-compliance below this threshold. Source: Insightful Accountant   Discover the implications of the reduced threshold reporting requirement on individuals and businesses. The IRS has revised the…

  Franchising is a powerful business model that has fueled the growth of countless brands across various industries. However, the success of a franchise system hinges on a robust and well-thought-out infrastructure. This article delves into the five major pillars that are essential for establishing a healthy franchise infrastructure.

  Lease negotiation as a franchisee is a critical step in establishing and sustaining a successful franchise. The lease agreement not only impacts your day-to-day operations but also plays a significant role in your business’s financial health. Here are six essential lease negotiation tips for franchisees, each elaborated further for a comprehensive understanding:

This Article Includes – Year end accounting checklists, Dealing with the IRS, Estate Planning, W-2 VS. W-4, How to prepare for year end, How To Avoid an Audit, Year End Accounting Tax Prep Tips, Important Year End Accounting Dates, Tax Deductions