“Where does our money even go?” I heard this recently from a friend who was having a difficult time sticking to a budget. He can pay bills and cover expenses, but the thought of saving or planning for a financial emergency is completely out of the question. This scenario plays out over and over in individual finances, but it also happens to businesses. There … Continue reading Budgets and Projections
For both business owners and those seeking employment, understanding the difference between an “employee” and an “independent contractor” is an important distinction. The IRS states “The general rule is that an individual is an independent contractor if the payer has the right to control or direct only the result of the work and not what will be done and how it will be done.” On the … Continue reading Independent Contractor or Employee?
When running your own business, accurate record keeping is vital. Missing bank statements, incorrectly tracked inventory, or misfiled data not only make your bottom line unreliable, but also places you and your business at a higher risk of IRS audit. As our modern society becomes increasingly reliant on online and mobile technology it also becomes more accustomed to instant gratification–information at the touch of a … Continue reading QuickBooks Online
I clearly remember picking up the mail and sorting through the stack of bills and junk when I came across an envelope addressed to me from a loan institution that I didn’t recognize. Thinking it was junk at first, I set it aside and thought nothing more about it for a few days. When I did finally open it, I saw that it was a … Continue reading Stolen Identities
I thought it was only fitting that my first blog post be about why I actually enjoy accounting and why I’m good at what I do. Truthfully, accounting was not my first career choice. Had the universe lined up differently, I would have studied nuclear engineering and spent the first half of my career on a Navy submarine. Instead, my path led me to the … Continue reading Why I Enjoy Accounting