Small businesses may not be taking advantage of all the tax deductions available to them explains Aron Govil. Here are 24 tax deductions your small business may be missing out on: 1. The home office deduction: If you use a portion of your home exclusively for business purposes, you can also deduct that amount from… Read More »Aron Govil shares 24 Tax Deductions Your Small Business May Be Missing Out On
As businesses grow, they require more sophisticated and comprehensive software to manage their finances says Aron Govil. Cloud-based accounting software is a newer option that offers many advantages over traditional software. This article discusses 15 of the most significant advantages of cloud-based accounting software. 1. Increased mobility and flexibility: With cloud-based software, there is no… Read More »Aron Govil- 15 Advantages of Cloud-Based Accounting Software
There are many reasons why you should outsource your accounting. Perhaps the most compelling reason is that it can save you a lot of time and money. Outsourcing your accounting can also help you improve your business’ efficiency and bottom line explains Aron Govil. In this article, we will discuss some of the key benefits… Read More »Aron Govil- Why You Should Outsource Your Accounting
There are many tax implications to working from home. For starters, you may be able to deduct some of your home-related expenses, such as the cost of your internet service, if you use it for business purposes. You may also be able to deduct part of your mortgage interest or rent payments, as well as… Read More »Aron Govil: Working from Home and the Tax Implications
There’s no time like the present to get your finances in order. By tracking your business expenses, you can get a better understanding of where your money is going and identify areas where you can save says Aron Govil. But when is the best time to start tracking your business expenses? The answer depends on… Read More »Aron Govil: The Best Time to Start Tracking Your Business Expenses
When you’re self-employed, it’s important to understand the different types of business taxes that may apply to your business says Aron Govil. This article provides an overview of the most common business taxes. Self-Employment Tax: If you’re self-employed, you’re responsible for paying self-employment tax. This tax is made up of two components: social security and… Read More »Aron Govil: What to Know About Business Taxes
Tax time can be a stressful time for small business owners. There are so many things to remember and so much at stake says Aron Govil. Unfortunately, many small businesses make common tax mistakes that can cost them money and even put them at risk of an audit. In this article, we will discuss the… Read More »Aron Govil shares The Top 10 Most Common Tax Mistakes Made By Small Businesses
Cloud-based accounting solutions have been growing in popularity in recent years explains Aron Govil. This is because they offer a number of advantages over traditional software options. In this article, we will explore some of the main advantages of using cloud-based accounting solutions. Ease of Use: One of the biggest advantages of cloud-based accounting solutions… Read More »Aron Govil- The Advantages of Cloud-Based Accounting Solutions
The Internal Revenue Service (IRS) defines a small business as an organization with fewer than 500 employees says Aron Govil. However, there are several other factors that the IRS considers when determining whether or not an organization is a small business. This article will discuss these factors and provide examples of businesses that would be… Read More »Aron Govil- What Is the IRS Definition of a Small Business?
A major increase in international business activity in recent years has led to a greatly increased need for accounting and management information services says Aron Govil. International accounting firms play a vital role in supporting growing multinational corporations by providing the expertise and information needed to manage financial activities of national operations located around the… Read More »Aron Govil- International Accounting Services: Opportunities in the Global Economy
In order to become publicly listed, a company needs to complete an Initial Public Offering (IPO) explains Aron Govil. This will allow them to trade their shares on an exchange, such as the NYSE and NASDAQ. You may be wondering why a company would go through all this just to have their stock bought by… Read More »Aron Govil- How Does a Company Become Publicly Listed?
A company’s financial health plays a key role in its success. In order to make sure you are heading in the right direction, it is important to find a trusted adviser who can provide insight into what makes your business tick says Aron Govil. A wise investment for any business owner is hiring a Certified… Read More »Aron Govil- How Does a Certified Public Accountant Help Your Business?
I want to create a subsidiary company that will provide family-based care for my mother. How do I set up the new company, change my insurance, and more? I’d like to add my son as a partner in my company. What is the process for adding new partners on my corporate tax return? I want… Read More »Aron Govil- How Do I Easily Incorporate a Subsidiary Company With the Same Ownership as My Main Company?
Activity-based costing is just one of many different types of costing that can be utilized by companies explains Aron Govil. It is often compared to the standard cost system, which assigns all costs within a production process to the product being produced. While this method may work for some companies, it does not always provide… Read More »Aron Govil explains How Can I Utilize Activity-Based Costing in My Company?
No, you don’t have to pay sales tax on revenue if you are not selling products directly, but just brokering them explains Aron Govil. For example: You set up a virtual storefront hosting the sale of electronic books from another company that sells those e-books. In this case, you would be considered an agent or… Read More »Aron Govil- Do I Have to Pay Sales Tax on Revenue if I Am Not Selling Products Directly, but Just Brokering Them?