We’ve all been there. You’re counting the days to your next paycheck when you have a few dollars to your name. It can be overwhelming knowing you need your dollars to stretch, especially if you might find saving money challenging. The truth is saving money does not need to be complicated, it can be effortless and simple by using technology.
Read MoreYour 20s will be the best times of your life.
The milestones, the goals, the accomplishments you set for yourself, the people you connect with, minimal responsibilities, freedom to travel and live your life. The list goes on!
Read MoreBookkeeping is often perceived as a boring task for most business owners and often neglected and left at the bottom of their to-do list. Although bookkeeping may seem boring, it is an essential aspect in running a successful business. I
Read MoreIt’s no lie that babies bring a sense of joy to their families, however, they can impact your tax situation in multiple ways and they are very expensive! Having the knowledge to know which tax breaks you can deduct and not deduct is very important as it relates to your tax bill and your refund.
Read MoreDepending on your long term goals you may have for income, family, career, etc, securing a college education is a stepping stone for success and with one, you are able to understand the world much better. However it comes with a catch, there is a cost to it, which may be one of your biggest purchase close to buying a home and a car.
Read MoreThis past summer, DWB Accounting held its first successful debut of its “Annual Business Pitch Competition” live pitch event that took place Juneteenth weekend at Jolie Studio in Brooklyn, NY. A competition specifically geared towards minority-owned businesses that are black-owned and entrepreneurs with a pitch idea.
Read MoreBeing a small business owner you will be faced with many decisions to make and choosing the right legal entity may not be the first thing on your mind. However choosing the right business structure is a key decision and it can affect your tax obligations, personal finances, etc.
Read MoreWhen it comes to understanding taxes, two terms that are used interchangeably are tax credits and tax deductions. Although they work in a similar way, they both have completely different meanings. Both can help you reduce your tax in different ways, and are easily confused by some people.
Tax Deductions
Are the dollar amounts offered by the IRS used to reduce your adjusted gross income which also lowers your taxable income (the income you would pay taxes on). This is a big help! There are two types of deductions: standard deduction or itemized deductions.
Read MoreIf you want to be successful in business, you’re going to have to learn how to keep the books in order. According to the Small Business Administration, learning accounting is important for business owners because sound financial information enables them to make informed business decisions.
Don’t be left in dark about your company’s money situation. Use these nine accounting best practices to help get your bookkeeping on the right track.
There are accounting two methods: cash and accrual. Accrual accounting is a method in which a business puts transactions on the books as soon as the transaction is made. Cash accounting — the more common of the two methods, according to the SBA — occurs when a business records transactions once payments have been received or made. Each method has advantages and disadvantages.
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