We are always doubtful about handing over our work to someone else which happens for many reasons, ability, deadlines, accuracy, quality, etc. Thus, small entrepreneurs are often very skeptical about outsourcing their tax preparation services. Today’s blog is all about busting the myths that you may have heard about...
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It is a common phenomenon that sometimes employees ask for advance payments from their salaries before the date of payroll or loans for personal or professional reasons! But do you know that there are payroll compliances set for such advances and loans? Let’s get to know the ABCs and...
The busiest season of the year for any taxation firm is the Tax filing! But that isn’t the single most time-consuming thing! Being a CPA firm, the most critical preparations are before the actual taxation starts! Your services vary from a wide range of offerings; be it bookkeeping or...
The aspects of running a business are many! But some have a real-time impact on your business and one major factor is your Accounting. Your finance department has a long and stretching impact on every level of your business. This is exactly why all the big firms have dedicated...
Here we are to discuss about the positive possibilities of hiring a CFO for startups, small and midsize companies. For that, lets first understand what exactly are CFOs. The chief financial officer is the one who bears the responsibility for managing the company’s finances, along with the financial planning,...
Why to keep tax records? Firstly, keeping tax records is not just applicable to the businesses or CPA firms, but also for individuals. It especially comes into picture when you have to arrange proofs for being a timely tax payer. It also ensures that your claims and deductions are...
The tax season is the most important season to determine the efficiency of a CPA firm. This is because during this time there is a lot of pressure on the firms and a single mistake can lead to losses for the clients which will question the potential and capability...
A CPA firm is basically an organization comprising of one or more CPAs (Certified Public Accountants). Its core job is to help people in making financial decisions related to their businesses no matter on a wider or a smaller scale. CPA firms are more of a customer service agency...
The main difference between a Limited Liability Partnership (LLP) and a Private Limited Company is that In an LLP, the Partners hold ownership of the LLP and also hold powers to manage the LLPwhereas in a Private Limited Company, the shareholders (owners) do not necessarily have to have management...
Profit is a financial gain which is typically a difference between amount earned and amount spent in a business. Cash Flow is the amount of money being displaced into and out of business which affects its liquidity. When new entrepreneurs start their companies, the main aim is to earn...