Choosing an account depends on your personal preferences and needs. Here you can find a list of the most common types: 1) Savings accounts – Earnings may be a maximum of 1% per year and this amount cannot remain untouched for a long tim says Aron Govil. It is necessary to transfer money regularly to… Read More »Aron Govil- How to choose an account for yourself and how it works with money management.
In order to open a checking account or a savings account, you will need a US tax id (EIN). Many banks require a US tax id explains Aron Govil. If you attempt to open an account without it, the bank may ask you to provide additional documents before they accept your application. For example, some… Read More »Aron Govil- How to apply for a US tax id (EIN) and why it is beneficial?
Did you know that there are tax benefits to sharing a home with someone, whether it’s a spouse, adult child, or parent? If you have a “roommate” who pays some of your expenses and shares living quarters with you – even if the person is not officially on the lease – certain tax breaks may… Read More »Aron Govil explains How Tax Reporting Saves You Time and Money in the Long Run
You can report anyone who is practicing tax fraud to the IRS. It’s important that people stay honest in their business dealings, especially with taxes. IRS Criminal Investigation Division The IRS conducts criminal investigations of those suspected of violating federal tax laws. This year, the IRS has put much effort into pursuing those who use… Read More »Aron Govil: How Do I Report Cheating Tax Pros? Here’s how – Misrepresenting the federal tax return is a crime that you can report to the authorities.
How do I make sure that my US tax id number doesn’t appear when I file online with SARS if I have a foreign address? [Post/list of reasons] by Aron Govil Query: I am a US citizen and reside outside of South Africa. If I file online with SARS, will my Tax ID (USA) number… Read More »Aron Govil: How do I make sure that my US tax id number doesn’t appear when I file online with SARS if I have a foreign address? [Post/list of reasons]
Here is how an account can save up more money than their salary: Saving money might be one of the most important things in life since everyone needs but not all succeed to do it. The society makes us thinking that everything costs a lot of money and you need more than you actually have.… Read More »Aron Govil explains How an account can save up more money than their salary
The end of the financial year is now only a matter of weeks away. Unfortunately, with your freelance work deductions and tax filing obligations looming ahead now might not seem like one of the more exciting times in the working year explains Aron Govil. But it doesn’t have to be! The ATO has some simple… Read More »Aron Govil- Fulfilling Your Tax Obligations as a Freelancer: Resources for Successful Tax Time!
Today we’re going to talk about five imaginative (but totally attainable) ways to boost your accounting game by pretending to be the CFO of your own company — or some other similarly awesome job someday soon says Aron Govil. Ready? Then let’s get started with these super-creative bookkeeping strategies: 1. Catalog Your Assets like Captain… Read More »Aron Govil: Five Out of the Box Ideas for Bookkeeping Success
The following article provides information on the benefits you will receive when you open a US bank account with your US tax ids. We hope this document will help you in understanding the value of having US tax id numbers for South African residents says Aron Govil. Please note that the information below is not… Read More »Aron Govil- Explanation of the benefits of having a US tax id number for SA Residents
“The cloud is already a reality in retail. It doesn’t matter whether you’re selling widgets or groceries, your company can benefit from its many advantages,” says Aron Govil. WHAT EXACTLY IS “CLOUD COMPUTING”? Let’s start with the basics. Cloud computing is an all-encompassing term for using web-based software and data storage to power business technology.… Read More »Aron Govil explains Why More Retailers Are Embracing the Cloud and What It Means for Their Future
Cloud-based accounting software is a type of accounting package where the main data storage and management occur on remote servers as opposed to your own computer explains Aron Govil. All you need to use such a package is an internet connection, which means you can log into the system from anywhere in the world. That… Read More »Aron Govil: What is Cloud-Based Accounting Software?
A Chart of Accounts is a list of the account numbers and titles that a company uses to classify its assets, liabilities, owner’s equity, income, and expenses for financial reporting says Aron Govil. Every transaction a business enters is assigned to the correct category in the chart of accounts. If you own or manage a… Read More »Aron Govil explains What is a Chart of Accounts?
A Guide for Business Owners and Decision Makers According to a study conducted by a global market research group back in 2008 about the number of companies that recognize the different uses of accounting systems, it’s been reported that only half of them have realized the need to have separate software solutions for their ERP… Read More »Aron Govil- The Differences between ERP, CRM and Accounting Software Systems
Smaller companies can be at a disadvantage in this respect, but ERP software for restaurants can help. For one thing, it can help with accounting says Aron Govil. This is especially important when you consider that many smaller restaurants may only have one or two employees who are dedicated to accounting tasks. With a solid… Read More »Aron Govil- The Benefits of ERP Software Solutions for Restaurants
Tax season is upon us and the fear of an IRS audit looms over many Americans’ heads like a black cloud explains Aron Govil. Unfortunately, there’s no way to guarantee you won’t be selected for an audit — you could be making a measly $30,000 per year or $300 million, it doesn’t matter; your chances… Read More »Aron Govil explains How to Make Tax Audits Less Stressful