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How Accounting Clean Up Works

Accounting clean-up refers to the process of reviewing and correcting financial records to ensure accuracy, completeness, and compliance with accounting standards and regulations. It is typically undertaken when there are discrepancies, errors, or inconsistencies in financial statements or accounting records that need to be addressed. Here's how accounting clean-up works: Identifying Issues: The first step in accounting clean-up is to identify the issues or discrepancies in the financial records. Read more [...]
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Tax to-dos for newlyweds to keep in mind

Anyone saying “I do” this summer should review a few tax-related items after the wedding. Big life changes, including a change in marital status, often have tax implications. Here are a few things couples should think about after they tie the knot. Name and address changes: People who change their name after marriage should report it to the Social Security Administration as soon as possible. The name on a person's tax return must match what is on file at the SSA. If it doesn't, it could delay Read more [...]
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The Hidden Costs of Employee Turnover and How to Reduce Them

Is high employee turnover an issue in your company? If so, you may already realize how costly it is. It affects your bottom line and cuts into your profits. Or maybe, it’s so bad that it’s turning your profits into losses. The question is, are you doing everything you can to reduce the costs associated with the turnover? The Costs To control the costs, first, we must know what they are. Only then can we tackle them. Here’s a list of the most common costs associated with employee turnover. 1. Read more [...]
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Five Summertime Strategies for 2023

We’re six days away from the first day of summer, and a few weeks away from the midpoint of the year. It’s the perfect time for taking a strategy check in your business to see how you’re doing for the first half of 2023 as well as to plan something fun and productive for summertime. Here are five business strategies to help you regroup, reassess, and rejuvenate your business halfway through 2023. 1. Celebrate Your Accomplishments Take time to pat yourself on the back and congratulate Read more [...]
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Understanding the Tax Implications of Investment Income

Investment income refers to the money you make on various types of investments, such as stocks, bonds, mutual funds, real estate, and interest-bearing accounts. It can be categorized into two main types: ordinary income and capital gains. Ordinary Income: Ordinary income from investments includes interest, dividends, and rental income. Let's briefly explore each: a) Interest: If you earn interest from investments like savings accounts, certificates of deposit (CDs), or bonds, that income is Read more [...]