POSTS TAGGED : business accounting

Company Helps Entrepreneurs Leverage Underutilized Accounting Tool to Raise Capital for their Business

Countless entrepreneurs are watching their business languish on the vine because they have exhausted traditional funding sources and don’t know where else to turn.

That limited perspective bothers serial start-up entrepreneur Peter J. Burns III, whose company Burn$ Funding has built a discipline around what are called Cost Segregation studies.

Cost segregation for raising capital

What is a Cost Segregation study?

A Cost Segregation study identifies aspects of physical property that can be placed on accelerated depreciation life cycles, potentially resulting in huge tax savings for eligible property owners.

“One of the first questions that comes to mind when I tell a small-business owner about it is, ‘Is it legal?’,”…

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5 Smart Accounting Tips to Help You Manage Your Startup

Startups and small businesses are sources of both excitement and frustration for their owners and managers. And one of the biggest sources of the latter is accounting for all the money that goes in and out of the company. However, bookkeeping doesn’t always have to be a big source of headache for budding business owners.

Startup accounting tips

If you’re thinking of ways to make your processes easier, then read on for some smart accounting tips that might just do the trick.

Separate Your Personal and Business Accounts

If you haven’t already done this, then you should get on it as soon as possible.…

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Why Outsourcing Your Accounting Makes Sense for Small Business Owners

Were you aware that out of all the new businesses established each year, that only 20% of them make it through their first year? And of that twenty percent, only half of them survive 5 years. Even though there are plenty of reasons why they don’t succeed, in many instances it relates directly to finances.

As money is required to operate, entrepreneurs must not only learn how to generate profits but manage those profits accordingly. Accounting and bookkeeping, for this reason, are of the utmost importance to a company’s lifespan.

Outsourcing your accounting

Why DIY Accounting Isn’t Always Efficient Enough

It is not uncommon for an entrepreneur to take on accounting and bookkeeping responsibilities in the first few years of their establishment.…

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3 Accounting Tools to Drive Your Small Business

Small business owners often scramble come tax season. There is a lot to worry about as a business owner, and the last thing most businesses want to think about is paying their taxes. Keeping the lights on is far more important to a business owner.

Using online accounting software

But you don’t have to scramble last minute to figure out your taxes.

There are tools that can help make tax season a little less taxing on a small business owner.

1. QuickBooks Online

Quickbooks website screenshot

Quickbooks offers an online version that is ideal for small businesses. The “standard” for small businesses, this software makes bookkeeping systematic. The good news is that you can use QuickBooks and then allow access to the account to your accountant.…

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5 Accounting Tips for New Restaurant Owners

One thing’s for sure: you’re getting into the restaurant business because you love it. For many people just like you, opening a restaurant the ultimate dream — combining a love of food, hospitality, people and entrepreneurship. It will be a lot of work but it will be worth it.

Restaurateur

But while passion is the glue that will hold it all together, we’ve already mentioned the most important ingredient: hard work. It’s not just about choosing great staff or even about coming up with a great restaurant business plan (though of course, both help) — opening a restaurant also requires fantastic accounting.…

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Avoiding Accounting Nightmares

As a small business owner you no doubt wear many different hats during your day-to-day tasks. Accountant, marketing manager, PR guru, head of HR, etc. are probably just some of the roles you have to take on. Because of this typical small business environment it is common for some aspects of a business to suffer and for some reason, despite its huge importance, it is often the financial accounts that suffer the most.

Accounting

This can happen for a few reasons. A lack of understanding when it comes to accounting is one and a shortage of time due to other business commitments is another.…

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