How Enterprise Resource Planning Streamlines the Accounting Process for Businesses

It goes without saying that proper accounting is one of the most important functions of a business. It allows for your company to identify how its operational costs are translating into profits over a certain period of time. For many years, accounting has been done via a separate system that doesn't necessarily integrate with other business functions. This means that data from multiple departments of the business would have to be collected on a regular basis and submitted to accountants for review.   Read More...

When It's Best to Bring Your Taxes to an Accountant

Many individuals manage their own tax filings if they have a regular job where taxes are held from the check and if they don't have any unusual forms of income, deductions, or costs that need to be included on their returns. However, tax returns are not always that simple, and there are times when it's best to bring those taxes to an accountant for him or her to prepare. Note when that is and why their services can be beneficial for you.   Read More...

An Introduction To Fringe Benefits Tax: 3 FAQs

Taxes are often a nightmare for many start-up entrepreneurs. Unfortunately, there are no two ways about it if you intend to remain in business legally.. The Fringe Benefits Tax (FBT) is a category of taxes that you'll be required to pay on fringe benefits you provide to your employees. It's important to understand this category of taxes as you work on your business activity statement. Below is a brief introduction in question and answer format.   Read More...

Avoid These Mistakes When Starting a Freelance Business

Starting your own freelance business allows you to set your own schedule, be your own boss, and control what work you do and when. While there are many benefits, you also need to plan carefully for this type of career path. Make sure you avoid the following mistakes people tend to make when first starting their freelance business. Not Planning For Deductions When you run a freelance business, you are responsible for all taxes.   Read More...

Beyond Tax Time: Five Ways Accountants Can Help Your Growing Business Throughout the Rest of the Year

Instead of contacting an accountant right before your taxes are due, you may want to consider working with these professionals throughout the year. This is especially important if your business is growing and you have more financial elements to track than you did before. Here are five ways an accountant can help your company throughout the year: 1. Setting up bookkeeping and accounting systems As your business grows, it becomes increasingly important to have a reliable way to track income and expenditures.   Read More...