If you’re a small business owner and you do not have proper knowledge of the bookkeeping process, the best solution for you is to hire a bookkeeper. But as a small business, you need to know about the pros and cons of hiring a bookkeeper. Bookkeeping is a crucial aspect of any business that helps …
by Kayn Ars 
Most businesses especially small and medium-sized business generally overpay their taxes as they’re not properly aware of the advantages of tax deduction credits. Getting assistance from an experienced professional can help small businesses to correctly file their deductions and credits. Before maximizing deductions and credits, it is beneficial to have a proper understanding of these …
by Kayn Ars 
What is 1099 form? 1099 Form is the form that is issued to non-payroll employees or that falls in the non-W2 category. 1099 form is further categorized into two types: 1099-MISC The 1099-MISC form is used to report miscellaneous income paid to an individual or unincorporated business in a calendar year. This includes income from …
by Kayn Ars 
Bookkeepers are an essential part of any business, responsible for maintaining accurate financial records and ensuring that transactions are recorded properly. In New Jersey, bookkeepers are in high demand, and their salaries can vary depending on their level of experience, education, and the industry they work in. According to the US Bureau of Labor Statistics, …
by Kayn Ars 
Filing and paying taxes is a legal compulsion that IRS always took pretty seriously. You as an owner cannot wish to skip your taxes because it can cause serious trouble for you. If you do not file taxes for your small business, you may be subject to penalties and fines from the Internal Revenue Service …
by Kayn Ars 
Being an entrepreneur, an individual has many responsibilities to look forward to. As per the research, more than 50% of owners of small businesses have lesser knowledge of accounting and finances. As we all know that these are the crucial components of any business, so any owner needs to have proper knowledge about these factors …
by Kayn Ars 
When a firm is acquired, Form 8594 is an essential form that needs to be carefully filled out. The purchase price is divided using this form between the assets and liabilities acquired during the transaction. It assists in calculating the tax implications for both the buyer and the seller. What is Form 8594, and Why …
by Kayn Ars 
As business professionals, it is crucial to have a firm grasp of the distinction between profit and cash flow. Although these terms are commonly used interchangeably, they indicate different aspects of a company’s financial health. In this article, we shall examine the main distinctions between profit and cash flow and their definitions and importance to …
by Kayn Ars 
If you’re interested in pursuing a career as a bookkeeper in New York, one of the questions that may be on your mind is: what is the salary of a bookkeeper in New York? The answer to this question can depend on several factors, including your experience level, the industry you work in, and your …
by Kayn Ars 
Remote bookkeeping is stated as the practice of maintaining a company’s financial transactions and records while using distant communication tools like the internet and phone. This indicates that the bookkeeper can carry out their tasks without being physically present at the place of business. Instead, workers can access and update the company’s financial data using …
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