A freelance accountant provides a range of financial services including bookkeeping, tax preparation, financial analysis, and advisory. They assist businesses in managing their financial operations and ensuring compliance with tax laws and regulations. Before hiring a freelance accountant, have a…

The demoters are the people who warn people away from your product. They are the people who give a response of 6 or lower on the 10 points rating scale. Now, let’s see how to calculate NPS by hand and…

Outsourcing tax preparation involves hiring an external firm or specialist to handle your tax-related tasks, such as filing returns, managing payroll taxes, and providing tax planning services. This approach allows businesses to delegate complex tax responsibilities to experts, freeing up…

This responsibility includes federal and state income taxes, social security taxes, and Medicare taxes. Maintaining accurate records of payroll taxes and deductions is crucial for meeting your tax obligations and avoiding penalties. Implementing efficient bookkeeping practices can streamline this process…

A positive working capital tells you you’ll be able to afford liabilities like bills or payroll, while a negative one means you need to make adjustments. In spite of all this, many startups have nowhere near the 12–18 months of…

This allows to include expenses related to external capital as tax-deductible expenses. No, tax shields do not guarantee a reduction in tax liability as they are dependent on a variety of factors, including the type of expense or cost being…

Accountants calculate cash online bookkeeping flow by making adjustments to a business’s income statement. Through addition and subtraction, bookkeepers remove non-cash items and transactions from the net income. Components of a cash flow statement include operating activities, investing activities, and…

When bookkeeping tasks become too time-consuming to handle on your own, hiring an online bookkeeping service can be a worthwhile investment. These services are typically staffed by people who have access to your accounting software and help make sure none…

Not only do these scenarios disrupt routine daily schedules, but they also lead to complicated payroll issues. A well-designed budget serves as a financial road map for a medical practice. Doctors can use it to define financial objectives, distribute resources…

It is an accounting term that helps business owners and managers track product profitability. The contribution margin is important to understand because it shows how much of a product’s revenue is available to cover fixed costs and contribute to the…