Building and growing a successful business is never easy. You may need an infusion of outside capital to start or expand your operations. There are two main ways that businesses raise money: Debt financing; and Equity financing. There are advantages and disadvantages to each option. Which one is better for a business depends on many …
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There are few things more stressful and frustrating than finding out that you are facing a federal tax audit. As unnerving as it can be, it is important to remember that an audit does not mean that you did anything wrong. The Internal Revenue Service (IRS) defines a tax audit as a “review/examination of an …
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Do you own and operate your own trucking company? If so, it is crucial that you have the proper accounting system in place to protect your financial interests. Running a trucking company can be complicated—especially when it comes to tax matters. The Heavy Highway Vehicle Use Tax is one of the most important taxes that …
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Doctors have a lot on their plate—even more so when they own and operate their own medical practice. After a long day of work, the last thing that most physicians want to do is spend time sorting out the financial books for their business. Of course, proper bookkeeping and accounting is absolutely essential to the …
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Medicine is one of the most important industries in the United States. Hospitals, physicians, and other medical practitioners help people get better when they are unwell. The medical industry is also highly competitive—owning and operating a successful medical practice is not easy. All medical industry businesses and professional medical practices need well-maintained financial books. In …
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As a truck driver, owning and operating your own business has the potential to be highly lucrative. According to a report from Trucks.com, independent truck drivers (owner-operators) earn more on average than company drivers. At the same time, owning and managing your own trucking business can be challenging. There are a lot of issues that …
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An owner-operator is a truck driver who owns their own business. For owner-operators, building a budget is critically important. You need to make sure that your business accounting is done properly so that you are in the best position to take advantage of all available tax deductions. This raises an important question: What can owner-operators …
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Posted by Williams Accounting & Consulting
Accounting, Business Consulting, Tax Preparation, Tax Resolution
Trucking is one of the most important industries in the country. According to data published by the United States Census Bureau, there are more than 700,000 trucking businesses nationwide. Independent owner-operators make up a significant portion of truckers. It can be an excellent business opportunity. A 2019 report from Convoy.com found that the average owner-operator …
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Successful businesses require the input of an accountant or bookkeeper to manage financial records. Once you realize this, you will also want to know how much bookkeeping services cost to determine what is within your budget. The answer to this question will not always be straightforward since you can hire an in-house employee, a traditional …
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As an owner of a small business, various questions will almost certainly cross your mind. How much am I supposed to pay for the tax? Why am I paying a specific amount of money? Is there a way I can reduce the taxable income? This is normal because the last thing you would want is …
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