All about the Paper Some accountants consider a cash flow statement the most important component of a financial statement. A cash flow statement will differ from an income statement by reporting what funds are actually available. For instance, an income statement will not account for revenues that will never be collected, or expenses that have no effect on cash flow … Read More

As the end of the year approaches individuals and businesses alike would be well advised to consider a few simple year-end tax-planning tips. While working with a tax accounting firm is often the best strategy, there are still some important basic strategies that each individual and business should be aware of as a way to enjoy greater tax savings. For … Read More

Small businesses require accurate and detailed record keeping so they can remain more competitive in today’s modern business world. Here are a few simple tax-planning tips for small businesses that are intended to increase efficiency and improve overall tax planning and tax organization. For example, tracking mileage in a detailed and organized way can make tax preparation easier, more convenient … Read More

If you export a U.S. made product, then you ought to consider forming an Interest Charge Domestic International Sales Corporation (IC-DISC) in order to maximize profits. An IC-DISC is corporation that elects to be taxed in a unique fashion. Actually, the corporation’s income is not taxed. The earnings generated by the ID-DISC are taxed after they have been distributed to … Read More

Counting came easy for you as a kid, math was your forte in high school, and you aced your first accounting class in college. If this sounds like you, accounting may be your calling. Congratulations, you have just embarked on one of the most lucrative, stable professions available to the Americans. But easy there turbo, in the words of the … Read More

Those starting a new business can sometimes become overwhelmed with the complexities associated with business related tax issues. As such, here are some useful and simple tax tips for new businesses worth considering. Getting any business off to a good start often means knowing in advance what to expect with regard to tax obligations. For example, the business structure can … Read More