Practice Keeping Track of Your Personal Expenses
Try to keep track of your personal expenses for a few days. You'll probably find it surprisingly hard. Here are some reasons why: We don't notice small expenses. When was...
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Insights, tips, and updates from our accounting experts.
Understand Your Finances: Make Good Decisions About How to Spend Your Money
Personal financial planning is not necessarily about managing money effectively. It's also about understanding how you are managing, or mismanaging, your money. This is because financial plans are normally about...
Find Out If You Need to File at All
The first thing to understand is that most people don't need to file, ever. The only people who have to file are those with earnings over a certain amount. So...
Put Together Your Net Income
Put together your net income for the year. If you had some big expenses, like a car or a home, be sure to include them.Now subtract the following things: -...
The Easiest Way to Do Your Taxes Is to Have a Simple Individual Tax Return
A simple individual tax return is one that lists all your income and expenses, but where you don't have to calculate anything. Instead the government does all the calculations for...
Manage Your Money Better by Keeping Track of Where It Goes
Keeping track of where your money goes is a useful discipline. Sometimes it will reveal ways to save money; sometimes it will alert you to ways you are wasting money; and...
Liquidation of a Business Under Common Accounting Methods
Liquidation of a business under common accounting methods involves many arbitrary estimates, judgements and assumptions. If the business is being liquidated by a receiver, an auditor or an accountant, for...
Interview Your Accountant
Your accountant is the person most likely to know your business backward and forward. He is also the person least likely to tell you what you want to hear. The...
Discuss Outsourcing Vs. In-House Bookkeeping.
I think it is clear that outsourcing bookkeeping is more efficient than doing it in-house. The people who would do the accounting in-house are probably better used doing other things,...
Set Up an Easy to Use Bookkeeping System That Will Track Everything You Need
Set up a good, easy to use bookkeeping system. It will eventually pay for itself many times over, and it's a lot easier than trying to do everything by hand....