Business Owner or JOB Owner?
Show Summary Hey everybody, excited to have Steve Richards on the show today! Today, we are going to talk about something that we are both very passionate about and that is…
Show Summary Hey everybody, excited to have Steve Richards on the show today! Today, we are going to talk about something that we are both very passionate about and that is…
The COVID-19 pandemic wasn’t a catalyst to shift businesses toward digital transformation, it merely sped up the process. Businesses needed to scramble to move much of their operations online so workers could efficiently collaborate with each other and maintain business continuity during a difficult time.
Fortunately, departments not traditionally associated with the digital universe, like Bookkeeping, had an easier time adapting thanks to online services like Bookstime.com, a provider of digital bookkeeping tools with unique experience in difficult areas like sales tax automation, health benefits administration, and more.
Keeping track of every business transaction is among the most important and perhaps underappreciated tasks. Failure to keep track of transactions in a professional manner can result in a business owner making wrong decisions because they have inaccurate information.
Even worse, they might think they end the year with a profit but in reality, a bunch of small bookkeeping mistakes over several months means the business owner really lost money.
A shift to a digital platform eliminates these concerns. Online digital platforms make use of the most up-to-date accounting automation software that erases nearly every careless mistake. This is especially useful for a business owner who does the tedious but necessary job of bookkeeping themselves to save money. The more time a business owner spends on ancillary tasks, the less time they have to generate revenue and keep clients happy.
Some of the other advantages associated with going online include:
Every business owner is happy to hire new workers because it means they are expected to provide value to the company above and beyond their salary. But that doesn’t mean that the formal process is enjoyable.
One of the more undesirable parts of the hiring process is the pesky W-4 form that every employer has to ensure is properly filled in before a worker’s first day. Simply put, the W-4 form confirms how much income tax a worker wants to have withheld from their recurring paychecks. Under-withholding taxes means a worker will likely experience a shock come tax season as they owe money to the government. Over-withholding taxes means a worker is paying the government too much money and has to wait for a refund.
Digital bookkeeping can help simplify this process so you're less prone to errors. When other people’s finances are at stake, small careless mistakes could impact a worker’s desire to give the business owner 100% of their focus.
Businesses that shifted their bookkeeping process online to better navigate through the pandemic quickly realized this was a move that should have been done years ago. The advantages of having access to a clean and organized online tool far outweigh the costs.
Q. Iâm 50 and I hope to retire at 60. How much of my portfolio should be in international investments, and with what focus? â Trying to prepare A. Weâre glad to hear youâre saving and investing, but the answer to your question isnât that simple. For starters, keep in mind that all markets are… Read More
The post Should I Invest Internationally? appeared first on Credit.com.
There are lots of expenses associated with the start-up and day-to-day operations of a business. Fortunately, many of these expenses are deductible, lowering the ownerâs income tax and self-employment tax. Here are five deductions that can benefit small-business owners and self-employed taxpayers.
5 Tax Deductions for Self-Employed Freelancers & Small Business Owners is a post from Money Crashers.
Due to coronavirus, there are new rules for self-employed home buyers who want to use FHA loans. Learn about new lending rules here.
Salespeople and marketers working in the financial services profession, as well as college students, can earn the Accredited Retirement Plan Consultant (ARPC) certificate to show they have proficiency and professionalism sufficient to help employers create effective retirement plans for workers. … Continue reading →
The post What Is an Accredited Retirement Plan Consultant (ARPC)? appeared first on SmartAsset Blog.
Amazon said it intends to invest in affordable housing over the next five years in three regions where it is a major employer: Seattle, Arlington, Va., and Nashville, Tenn.
The post Amazon Pledging More Than $2 Billion for Affordable Housing in Three Hub Cities appeared first on Real Estate News & Insights | realtor.com®.
My monthly Extraordinary Lives series is something that I’m really loving, and I’m back with another great interview. First up was JP Livingston, who retired with a net worth over $2,000,000 at the age of 28. Today’s interview is with Paula Pant, a 34-year-old who owns seven rental homes, which last year grossed $125,000 and netted […]
The post How This 34 Year Old Owns 7 Rental Homes appeared first on Making Sense Of Cents.
Show Summary Hey, welcome back for another segment! This is the 3rd and final segment that I wanted to share with you from my recent live event called the Thankful Real…
Financial planning and analysis (FP&A) is the process businesses use to prepare budgets, generate forecasts, analyze profitability and otherwise inform senior management decisions of how to implement the companyâs strategy most effectively and efficiently. The FP&A functions can be accomplished … Continue reading →
The post What Is Financial Planning and Analysis (FP&A)? appeared first on SmartAsset Blog.