What's Your Number? An Accounting Blog
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What's Your Number? An Accounting Blog

Keeping track of income and expenses is essential, even if you don't own a business. And if you do own a business, things get even more complicated. There are paychecks to issue, taxes to track, and subcontractors to pay out. All of these details are a whole lot less challenging when you hire an accountant to oversee them. However, it is still important to know a little bit about accounting yourself. Dig into the articles on this website, and you'll gain a better understanding of accounting principles, what services accountants really offer, and the benefits of hiring these professionals to assist with your finances.

What's Your Number? An Accounting Blog

  • 4 Important Changes Coming To Your Taxes In 2021

    18 August 2020

    It may not seem like it, but 2020 is more than halfway over, which means it is time to start thinking about the tax implications for this year. There are some important changes you need to be aware of when it comes to filing your taxes for the 2020 tax year in 2021. Important Change #1: Increased Standard Deduction If you choose to take a standard deduction, you will be able to enjoy a slightly bigger standard deduction this year.

  • 4 Essential Accounting Tips For Small Business Owners

    17 July 2020

    As a small business owner, you are going to want to make sure that in addition to staying on top of your business, that you stay on top of your accounting as well. Staying on top of your accounting is essential if you want your business to succeed. Essential Accounting Tip #1: Set an Accounting System in Place First, you need to set an accounting system in place. You need to decide if you want to use an accounting software program or work with a bookkeeper.

  • What The Heck Is GAAP?

    16 July 2020

    Depending on the type of business you operate, you might find your account encouraging you to adopt what is known as GAAP. The Generally Accepted Account Practices were designed by the Securities and Exchange Commission to make sure all publicly traded companies were present their numbers in the same way. GAAP has since expanded well beyond the world of stocks, and it's not unusual for a business accountant to work with any client to use its methods.

  • Tax Preparation Tips To Keep In Mind As A Contractor Or Freelancer

    9 July 2020

    As a contractor or freelancer, you do have some freedom to pick and choose the jobs you want to take on, and maybe you can even set your own schedule. While this line of work definitely has its perks, it may also come with some additional considerations when it comes to tax preparation. If you want to make sure that you get your taxes in on time while reporting everything as accurately as possible, here are some tips that might help.

  • Not Understanding Profits Can Lead To An Accounting Disaster

    30 June 2020

    Few mistakes in the world of business accounting can be as catastrophic as not fully understanding what profits are and how to achieve them. It's easy to think that profitability means simply taking in more money than you spend. More factors come into play, though. Let's take a look at what you need to know about profits. Receipts, Cash Flow, and Profits Aren't the Same Things One of the easiest traps to fall into is the blind belief that money goes into a business and profits come out.