As an independent contractor, it's important to make sure your books are in order. One of the main reasons for this is to make your tax reporting a lot easier and get you back to work as quickly as possible. As an independent contractor, you are responsible for paying quarterly income taxes--which can be an arduous process if you don't know what you're doing. Knowing how much you are paying out and bringing in will assist in getting your taxes paid in a timely and accurate manner and reduce the amount of time spent with your bookkeeper or accountant. Having an accounting system in place will increase productivity and help your business run efficiently. By keeping track of bills, receipts, your net profit and gross profit, and by maintaining a clean balance sheet, you can keep an eye on your money without taking too much time from your day job.
After failing to pay your taxes, failing to file the appropriate returns is the second easiest way to incur the.
Cash flow forecasting can make or break your business. Business owners need to know how much cash they have on hand.
One of the most frustrating aspects of any business is waiting for the cash to flow in. While some blame can be.
When you are running a business, keeping on top of outstanding invoices is important. Not only will this give you a.
Many small businesses reliably produce a set of financial statements each year, listing assets and liabilities,.
Occasionally, we get asked to help companies understand where and why they should allocate budget to improve.
