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You know how they always say "follow the money"? Well in business, financial reporting is how you actually can follow the money flow. It's like having an X-ray into a company's financial health and operations. For all the key players - investors, lenders, regulators, management - those financial reports are...

Not Keeping Personal and Business Finances Separate One of the most common mistakes small business owners make is mingling personal and business finances. While it may seem easier and more convenient at first, combining personal and company accounts will cause major headaches at tax time. It also makes it much...

Proper bookkeeping and tax preparation are crucial for small business owners. With the right strategies, you can maximize deductions, avoid common mistakes, and streamline your tax filing process. This comprehensive guide provides tips and best practices for small business bookkeeping and tax preparation.  Whether you handle your own books and...

Meticulous record keeping and bookkeeping are crucial not just for running a functional business, but also for making it through audits seamlessly. Audits can be intimidating, but they don't have to be if you have your books in order.  By following some standard bookkeeping best practices and avoiding common mistakes,...