Temi Koleowo asked: Accounting tasks to a non-financial person can be a mammoth task. Wading through invoices, bank statements amongst others duties can be quite tasking especially for small business owners who have a lot of other things to do. Even businesses that have an in-house business team still need to manage the functions of …
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When you hear the word business, what’s the first thing that comes to your mind? I would bet it is money, right? Money makes the business exist. Money makes the business run. Business money demands good management. With business money follows accounting. Accounting is vital to any business’ existence. The law requires business to submit …
The U.S. Small Business Administration (SBA) was founded in 1953 as an independent agency of the federal government to aid and assist as well as counsel and guard the interests of small business concerns. Another goal of agency was to preserve free competitive enterprise and to sustain and strengthen the overall financial system of our …
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Overlooked Advantages of an S Corporation The big benefit of operating your business as an S corporation comes from payroll tax savings. As compared to partnerships and sole proprietorships which pay Social Security and Medicare taxes on on all of their business profits, S corporations pay Social Securty and Medicare taxes only on that chunk …
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