As a business owner, you are undoubtedly interested in your financial bottom line. However, did you know that you may have two bottom lines when it comes to the company's income and expenses? Understanding how to use these two different sets of legitimate financial records will help you minimize taxes and maximize your profits. Here is what you need to know. Book Income vs. Taxable Income So-called book income and expenses are what is actually kept in your financial records as you do business throughout the year.
9 December 2019
When it comes to handling tax returns and preparing to file, many people get frustrated and stressed out. That's because taxes can feel challenging and confusing when you don't fully understand all of the laws or regulations that are in place. The good news is you don't have to handle your tax needs alone. You can hire a tax preparation professional to do the work for you. It can truly make your life a lot easier and it will ensure that your taxes are filed on time.
25 October 2019
If you're in the military, you should be using a tax preparation service for your taxes. You may think that filing your taxes is a simple process, but members of the military need extra assistance with the process. Before you file your taxes on your own, take a look at the reasons why you need to hire a tax preparation service, such as Hough & Co CPA, instead. Sort Your Taxable From Non-Taxable Income
17 July 2019
Nearly all businesses need credit extended at some point in their growth cycles. While seeking a business loan can be stressful, having the assistance of an experienced accounting service helps in many ways. What type of help can your accounting service give while asking for a loan? Here are four things it will do for you. A Clean History. Work with a qualified accountant to determine what the company's credit history looks like.
27 March 2019
