Blog

Tax deductions are available for a wide range of expenses, such as charitable donations, mortgage interest, medical expenses, and business expenses. The proposal for Gov. Gianforte’s 2025 budget would reduce the income tax rate to 4.9%, leap-frogging Idaho’s 5.8% rate. Tax systems differ, with some states applying a flat tax rate to all residents, whileRead more

Each rate, compiled from BLS 2021 data (the most recent available), is at least $20 an hour with one exception. Keep in mind, though, that these roles could actually pay more than the median rate. In other words, entry-level positions may pay less, but there are also opportunities to make significantly more. You do needRead more

Electronic bookkeeping provides businesses with streamlined auditing and compliance processes, ensuring adherence to regulatory requirements and facilitating efficient audits. Traditional manual bookkeeping methods can be cumbersome and time-consuming when it comes to preparing for audits or meeting compliance standards. However, electronic bookkeeping systems offer features that simplify audit preparation and facilitate compliance with regulations. InRead more

This approach is vital for planning and guiding a company’s financial future in a straightforward way. Vertical analysis applied to the balance sheet complements the insights gained from the income statement. This dual approach offers a comprehensive view, enabling a more informed financial strategy that covers both earnings performance and asset management. Since every companyRead more

Instead, we recommend checking out our list of the best inventory management software to see our other top picks. Best of all, TradeGecko users with a Business plan or higher could access TradeGecko’s built-in demand forecasting. This feature helped you predict customer demand for each of your products in advance so you never had toRead more

A provider built specifically to meet the needs of smaller organizations, Bench Accounting’s outsourced bookkeeping services can completely replace your current process or software tools. And with a one-month free trial, you can test drive their offerings before fully committing. Outsourcing accounting and bookkeeping services can significantly enhance efficiency and reduce costs for businesses. OneRead more

The solution you decide on should also allow you to do some form of fund accounting. This means instead of piling your money into one big “cash” account, you’ll need to distinguish between and track separate buckets of money. Most nonprofits elect some kind of treasurer or financial officer to manage all of the organization’sRead more

So if you want those services included in your service package, you may want to look elsewhere. Your virtual bookkeeper will categorize all of your financial transactions into the appropriate account, which includes labeling income, expenses, assets, liabilities, and equity. Many online services use machine learning algorithms to automatically categorize transactions based on past dataRead more