Auditing Vs Accounting: “What’s The Difference?”
Auditing and accounting are two of the most common terms in the finance world. Unfortunately, plenty of people still confuse these two services. In fact, even Hollywood isn’t safe from this confusion. For example, in the movie “The Accountant,” Chris Wolff, Ben...
6 Best Ways On How To Prepare For Retirement
If life is a race, retirement would be the retirement of the final lap of our lives. You have to give all your best to make sure that your last lap would be your best one during the whole race. To prepare for your retirement, you have to start early, invest in the...
New Measures In Dealing With Casualty Losses
Small businesses, in one way or another, experience some losses during their existence. One of the most common kinds of these losses is casualty loss. Casualty losses are a negative movement in the value of a company due to unexpected, unusual, and sudden events....
Employment and Careers in the Field of Accountancy
Accounting has always been one of those careers with dismal retention rates. The stress attributed to the job often results in accountants and CPAs shifting around different career paths until they find the one that suits them best. Unfortunately, a pattern of...
What Are The Taxes For Small Businesses In The US?
There is nothing more consistent in our lives than taxes, and this rule also applies to small businesses. As a small business owner, you need to know which taxes for small businesses apply to you. This knowledge will protect you against getting into trouble with the...
Are Accountants Ready For The Future?
Leaders in the accounting profession are adamant that accounting is both art and science. However, it is undeniable that accounting follows many rules and principles that machines can easily replicate. Hence, the obsolescence of accountants and CPAs is a growing...
Digital Assets in A Physical World
The rapid growth of technology is moving finances from being a physical commodity to digital. In fact, according to research, digital assets across the globe have a value of US$120 billion last February 2019. 53% of that amount is under the popular cryptocurrency,...
Rental Real Estate Businesses Now Eligible For QBI Deductions
Rental real estate businesses may as well start singing holiday carols as Christmas has come early for their industry. IRS’s recent proclamation (Rev. Proc. 2019-38) has loosened tax regulations on rental real estate businesses with regards to Qualified Business...
Comprehensive Business Audits For Small Businesses
A business audit decides the reliability of your business records. It can affect how your investors perceive your company. For example, a negative audit review can tell your stockholders that they cannot trust you in handling your finances. Seattle Bookkeeper Other...