When we live as onlookers, we spend the bulk of our time looking as onlookers in our lives. We can’t grow and prosper if we live life as spectators. It’s good to congratulate people on their accomplishments and achievements. Don’t let what others are doing, though, prevent you from living your own life. Participate in your own life story by taking an active part in it. What holds us back from living our best lives? 1. Fear Fear of change […]
When we worry about what others think about us and try and “keep up appearances”. We may find ourselves eager to please everyone but ourselves. Continuing with this way of thinking may eventually impact our businesses. Below are some tips on how to allow yourself to reach your full potential as a business owner and not put too much weight on other people’s opinions of you. Make an Effort to be Thankful To stop yourself from feeling like you have […]
Do you know what the most common complaint is among accounting professionals, whether they are CPAs, accountants, or bookkeepers? It’s not that accountants work long hours. It’s not that some of them despise dealing with the Internal Revenue Service. It’s not that they have to keep up with constantly changing accounting and tax laws. Accountants’ number one complaint is that small businesses put things off until the last minute – business owners PROCRASTINATE. We can all agree that business owners […]
We are instilled with the trait of responsibility at a young age. It teaches us to take responsibility for our actions rather than blaming others. It has more meaning as we grow older; it now means you are in charge of your life, particularly in terms of your financial situation. People who are financially successful understand that they are the only ones who can control their financial situation. Taking charge of your financial future does not necessarily imply taking charge […]
If you have children, one or more of these tax credits and deductions might be able to assist your family in reducing the amount of your tax liability for 2020. Consider the following examples; 1. Child Tax Credit The Child Tax Credit can generally be claimed for each qualified child under the age of 17. The maximum credit per child is $2,000.00. The Additional Child Tax Credit may be available to taxpayers who do not receive the full amount of […]
There are many financial reports that can be used to gain insight into the business’s past, present, and future financial condition. As a business owner, getting an annual report of this financial data is important because it will help you run the company more efficiently, assess operations better, and make better business decisions. Here are three of the most important accounting reports that any business owner should study on a daily and annual basis in order to obtain a clearer […]
Maybe you’ve just started your company and aren’t sure if you need to hire an accountant. Perhaps you’re still in the planning stages of a new company and are debating whether or not you need someone committed solely to accounting before going all-in. You can be sure that if you ask an accountant if you should hire someone to support you with your books professionally, they would say ‘yes’. However, you can be assured that they are not saying “yes” […]