Building a nest egg to give you a secure financial future doesn’t require a degree in economics, just a degree of common sense. The rules are easy and time-tested, and the smart players always abide by them. 1. It’s never too late or too early to start. Think back five or ten years and say […]
Monthly Accounting
Tax planning is good for corporations too
If you own a calendar-year corporation, you can benefit from planning moves you make before December 31. For example, corporations can accelerate or defer income or deductions to stay within a certain tax bracket. You’ll also want to look at your corporate alternative minimum tax exposure to determine whether you qualify for an exception to […]
Business Tip: Don’t sell property; exchange it
A tax-deferred exchange is a tax planning technique which should be considered by any taxpayer that is relocating or disposing of property. Often referred to as a “tax-free exchange,” the tax-deferred exchange allows you to exchange certain business or investment property for other “like-kind” business or investment property and pay no income taxes currently. Your […]
Business Accounting Systems, P.C. named 2015 Best of Biz
Business Accounting Systems, P.C. has been named to the 100 best in South Jersey Business List by South Jersey Biz Magazine, 2015. The specialty to which we have been named this time is Bookkeeping. In 2014, we were named to the list for our Payroll Services. We are proud and thankful for the nomination […]
Accurate inventory numbers are crucial for your business
For many companies, inventory is a significant dollar amount on the company’s financial statements. So it’s crucial that recorded inventory balances reflect actual values. When such accounts aren’t properly stated, the cost of goods sold and current ratios – numbers that often matter to decision makers – may be skewed. If banks discover that your […]
Business survey identifies taxes as biggest burden
In a survey of small businesses conducted by the National Small Business Association, 59% of respondents said taxes were more of an administrative burden than a financial one. Most businesses put payroll taxes at the top of the list of taxes with the greatest administrative burden. Payroll taxes also outranked other taxes, such as income, […]