When starting a business, you must determine your method for accounting and paying taxes. The two choices are the cash method and the accrual method. Cash Method The cash method is probably your best accounting choice if you want simplicity. Generally, income and deductions can be claimed when payment is received or made. This is… Continue reading Accounting Method – Cash or Accrual – What’s The Difference?
Category: Finance
7 Inflation Tips
Inflation can eat up your savings and plans for the future. However, you can take steps to protect yourself from inflation. Consider these tips to protect your finances: Understand purchasing power. Purchasing power refers to your ability to buy items such as necessities and luxuries. One of the main issues with inflation is that your purchasing… Continue reading 7 Inflation Tips
Green Investing – Avoid Greenwashing
What constitutes a green company? Your answer may vary from investor to investor. Green investing involves putting investment dollars into environmentally friendly companies. Some might only consider companies that address environmental issues. A company that produces solar panels would be a good example. Other investors might consider a company that recycles and shows a general environmental awareness.… Continue reading Green Investing – Avoid Greenwashing
Employee Payroll Tax – What You Need to Know
Employee taxes can be among the most difficult-to-understand areas of running a business and hiring employees. If you don’t understand the complexities involving employee payroll tax, it can also get you into a heap of trouble. The first employee tax factor you should understand is what taxes you are responsible for as an employer. There… Continue reading Employee Payroll Tax – What You Need to Know
How To Vacation on a Budget
Vacation spending has a way of getting out of control quickly. Setting up a budget and sticking to it is the best way to ensure that your vacation spending doesn’t haunt you for the months that follow your trip. There are several components to your budget you should always take into account, such as transportation,… Continue reading How To Vacation on a Budget
GAAP Basics
While many businesses assume that generally accepted accounting practices bind accountants and that these are inviolate, nothing could be further from the truth. Everything is subject to interpretation, and GAAP is no different. For one thing, GAAP permits alternative accounting methods to be used for certain expenses and revenue in certain specialized types of businesses.… Continue reading GAAP Basics
What You Need To Know About Tax Preparers
Nothing leads to more gnashing of teeth than the thought of preparing your taxes. Fortunately, there are people out there that do it for a living. Here Are My Receipts If the thought of preparing your taxes makes you queasy, don’t worry. Preparing your taxes is a job that can be shipped out to others.… Continue reading What You Need To Know About Tax Preparers
How To Create A 7 Step Debt Repayment Plan
When you don’t take steps to repay debt, it can grow into a force to be reckoned with. The reason is that debt collectors often assess additional fees and interest on the debt you owe, so unpaid debts can become monstrous in short periods. Creating a debt repayment plan is essential to your financial health.… Continue reading How To Create A 7 Step Debt Repayment Plan
What Are The Differences Between Federal and Private Student Loans?
For most families, student loans are a big part of college education financing. While student loans are easy to get, they aren’t as easy to understand. There are so many payment plans, variable interest rates, consolidation, and other options that muddy the waters. One common source of confusion is the difference between private and federal… Continue reading What Are The Differences Between Federal and Private Student Loans?
Money Tips For Parents
The importance of money becomes apparent when we have kids. We could have squeaked by living paycheck to paycheck when it was just ourselves, but now that there are others to think about, we have to start saving our pennies. Here are some money management tips for single and two-parent households. Use generic brands as… Continue reading Money Tips For Parents