Best Bookkeeping Practices Successful business owners need to maintain their bookkeeping. Proper bookkeeping is an integral part of ensuring the business remains successful. Without it, you may not know how much profit you are gaining and how many expenses you incur. Plus, poor bookkeeping makes it difficult to accurately file taxes and can lead to …
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Tax Audit Framingham MA Individuals and private business entities are required by law to complete their tax returns. Some people and business owners are not aware of their tax obligations, resulting in tax issues and audits. Therefore, it is important to know how to handle a tax audit and why a tax audit representative is …
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Best CPA Framingham MA Finding a CPA is easy, anyone can do it. However, very few know how to find the best CPA and having the best can make all the difference for you and your business. Here is a three-part process of how to find the best CPA. Referrals Getting referrals is a very …
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Hire a CPA Framingham MA Businesses quickly get complex once they start growing and at some point, you might want to let go and learn to trust other people to handle some parts of your business. When you feel like you are losing track of your finances, an accountant; and not just any accountant but …
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DBA is an abbreviation for “doing business as.” A firm or individual uses this name when it is operating under a different name than that which it was legally registered. Depending on where you decide to do business, you are required to register your DBA with either your state government or county clerk’s office. DBAs …
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S CORPORATION AND LLCS Commonly known as LLC, a Limited Liability Company is an incorporated association tasked with providing limited liability to its members (owners). The company’s members are generally not personally liable for its Debts, Obligations, or Liabilities. Also, the owners are allowed to be part of the managing activities and control of the …
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Business Tax Obligations Did you know that the Massachusetts Department of Revenue has a web-based application that makes it easier for business owners to file and pay taxes? To sign up for the MassTaxConnect, one needs to produce the following documents and information: Your legal name The Social Security Number (that is if the business …
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Bookkeeping Framingham MA Bookkeeping is the process of keeping correct records of company expenditure and revenue. Entrepreneurs may choose to do their own bookkeeping to save on expenses but others may prefer hiring a skilled accountant. There are many benefits of accurate bookkeeping to entrepreneurs such as; Budget Forecasts and Preparations Bookkeeping is necessary because …
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Accountant Framingham MA An accountant is a trained professional who is responsible for reporting accurate financial affairs. Whereas, a bookkeeper documents the financial transactions of the company. To qualify to be an accountant, an individual must have a bachelor’s degree in the field of accounting. In addition, accountants are also required to obtain professional certifications …
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Tax Cuts and Jobs Act The Tax Cuts and Jobs Act (TCJA) legislated in December of 2017 has had positive impacts in the lives of citizens and the corporate world as well. It has reduced the income tax for the majority of people until 2025. Businesses and corporations, on the other hand, have received a …
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