As bookkeepers, we think this one is a huge mistake! According to the Small Business Administration, 28 percent of companies go bankrupt due to problems with the financial structure of the company. However, many of the problems could have been avoided by establishing good accounting practices. The biggest practice that can save your business is...Read More
Written by Fox Rothschild LLP New Jersey employers should expect to see a significant expansion of investigations into misclassification of employees as independent contractors. Such investigations have always presented risks and costs to employers, but recent portentous announcements by Gov. Phil Murphy’s administration indicate that the cost of misclassification could soon increase exponentially. By way...Read More
The first post in our 8 mistakes accountants make series is all about how profits dont always mean cash flow. First let us define three key terms: profits, revenue, and cash. Profits: Profits is an accounting concept that depends on a lot of imposed timing constraints for sales, costs, and expenses. Revenue: Revenue is money...Read More
The most dreaded 4 numbers in all of accounting would have to be 1-0-9-9. Most independent contractors and self-employed individuals are privy to these notorious IRS tax forms, however, small business owners may not be aware of their responsibilities for filing a 1099. The tax Form 1099-MISC is used by the IRS to track...Read More
Tis the season of giving! It is that time of year where you want to show your hard-working employees how much you appreciate them. However, what should you get them? The easiest and most common gift is money, but is it taxable? The answer is yes. What about the latest iPad? Still, yes. Almost...Read More
Expenses The first step of sticking to a Holiday budget is creating a list of all possible expenses. This would include anything as small as wrapping paper to the tree or travel expenses. It is not just about gifts, you have to think of the small stuff as well. Limit Depending...Read More
Welcome to “Helping Dollars Make Sense!” the official blog for JB Financial Associates! We are so excited to interact with you, our online community, while hopefully helping dollars make a lot more sense. Here at JB Financial Associates we pride ourselves on building relationships with our clients that are both beneficial to their business and...Read More
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