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Source Documents: Why You Need Them

Source Documents: Why You Need Them

Keeping your business’ source documents is a must for all businesses. Examples of source documents include sales, payroll, canceled checks and much more. These documents support your bookkeeping transactions. Source documents will help you prove the legitimacy of your...
The Must-Have STARTUP To-Do List

The Must-Have STARTUP To-Do List

ASK THE TOUGH QUESTIONS Would you buy your product/service? Will you make a profit at the price? Are you solving a problem? What makes you different from the competition? JOT DOWN THE GAME PLAN Do you have enough funds for first-year living expenses? Grants/...
Bookkeeping Tips

Bookkeeping Tips

Bookkeeping is a business chore that must be done at least yearly for taxes. It is almost equivalent to laundry. It is best to set time aside every week to do a small load, instead of having to stay home for a full weekend every month to catch up. Think of bookkeeping...

Employee or Independent Contractor? Know the Rules

IRS Small Business Tax Tip The IRS encourages all businesses and business owners to know the rules when it comes to classifying a worker as an employee or an independent contractor. An employer must withhold income taxes and pay Social Security, Medicare taxes and...