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Bookkeeper, Public Accountant

 

How To Start Your Own Home Based accounting & bookkeeping And Bookkeeping Business

Are you own of those people who are tired of being confined inside your windowless office cubicle? If you have been feeling claustrophobic in your small cramped cubicle with nothing but the computer filled with accounting & bookkeeping files, now is the time for you to get out of there and look for something that will not really drive you crazy. There is really no point of torturing yourself and getting all your nerves worked out even if the job does pay the bills. Always bear in mind tha...

Are you own of those people who are tired of being confined inside your windowless office cubicle? If you have been feeling claustrophobic in your small cramped cubicle with nothing but the computer filled with accounting & bookkeeping files, now is the time for you to get out of there and look for something that will not really drive you crazy. There is really no point of torturing yourself and getting all your nerves worked out even if the job does pay the bills. Always bear in mind that you are not here in this world simply because you need to pay the bills! You have to live your life a little and have some fun.

Now, just because you are miserable with your present job, that doesn’t mean you have to dash out of the door right thins very minute and never look back. Much as we hate to think about it, we do need to pay the bills, eat and have a roof over our heads. If you really want to quit your job, you better look for alternative means of income first. Much as you would like to get away from your workplace fast, you will need your day job to keep you afloat while you set up your home business. To inspire you to work hard on your home business, set a target date when you will quit your job. Keep your target in mind and strive hard to build your business.

Since you are an bookkeeper, public accountant, you might want to start offering your services as bookkeeper or bookkeeper, public accountant to small business around your community. There are probably a lot of small businesses around your community that needs your services so start calling on people who might be in need of bookkeeper, public accountants or bookkeepers. If you know some people who are into home based business, give them a call and ask if they need your help. You will be surprised at how many people actually need accounting & bookkeeping and bookkeeping services.

Another way for you to advertise your services is to print some brochures of describing your work experience, the services that you are offering and your professional fees. Distribute your brochures together with your business cards to family members and friends and ask them if they know somebody who might be interested in your services. More often than not, someone in the family does know somebody who is in need of accounting & bookkeeping services.

It may take you sometime before you can finally build a good accounting & bookkeeping and bookkeeping business. If things are not moving as fast as you would want it to be, be patient and don’t stop trying. Sooner or later you will be able to get enough clients and generate some good income.

 

accounting & bookkeeping

When starting a business, you have to determine the method you are going to use for accounting & bookkeeping and paying taxes. The two choices are the cash method and the accrual method.

accounting & bookkeeping,taxes,software,methods,assets,liability,fraud,

When starting a business, you have to determine the method you are going to use for accounting & bookkeeping and paying taxes. The two choices are the cash method and the accrual method.

Cash Method

If you are looking for simplicity, the cash method is probably your best accounting & bookkeeping choice. Generally, income and deductions can be claimed when payment is actually received or made. This is best shown with an example.

I open a small business and have to order business cards and stationary. I receive the products and pay the invoice on November 18, 2007. Under the cash method, I can deduct the cost on my 2007 tax return.

Some businesses are restricted from using the cash method. C corporations may only use the cash method if they have less than $5 million in gross revenues for a particular year. Professional Service Corporations can use the cash method without limit, while farming corporations can due so if gross revenues are less than $25 million. Tax shelters are prohibited from using the cash method.

Accrual Method

The Accrual Method of accounting & bookkeeping is a bit more complex. Under this method, the focus in on the date the expense is incurred, not paid. Although this may seem a small difference, it can play havoc with your books and piece of mind.

Using our previous example, assume I order business cards and stationary on the December 18, 2006. I receive the products on December 30th, but don’t pay the invoice until January 20, 2007. When can the expense be claimed? It depends on when economic performance occurred.

Generally, economic performance occurs when goods or services are provided to you. In the above example, economic performance would arguably occur when the business cards and stationary were delivered with the invoice on December 30th. Thus, I would be able to deduct the expense for the 2007 tax year.

In Closing

As you can see, the cash method is the easier of the two accounting & bookkeeping methods. To determine the best method for your business, speak with a tax professional.

 

accounting & bookkeeping Methods – Cash and Accrual

When starting a business, you have to determine the method you are going to use for accounting & bookkeeping and paying taxes. The two choices are the cash method and the accrual method.

accounting & bookkeeping methods, cash, accrual

When starting a business, you have to determine the method you are going to use for accounting & bookkeeping and paying taxes. The two choices are the cash method and the accrual method.

Cash Method

If you are looking for simplicity, the cash method is probably your best accounting & bookkeeping choice. Generally, income and deductions can be claimed when payment is actually received or made. This is best shown with an example.

I open a small business and have to order business cards and stationary. I receive the products and pay the invoice on November 18, 2005. Under the cash method, I can deduct the cost on my 2005 tax return.

Some businesses are restricted from using the cash method. C corporations may only use the cash method if they have less than $5 million in gross revenues for a particular year. Professional Service Corporations can use the cash method without limit, while farming corporations can due so if gross revenues are less than $25 million. Tax shelters are prohibited from using the cash method.

Accrual Method

The

Accrual Method of accounting & bookkeeping is a bit more complex. Under this method, the focus in on the date the expense is incurred, not paid. Although this may seem a small difference, it can play havoc with your books and piece of mind.

Using our previous example, assume I order business cards and stationary on the December 18, 2005. I receive the products on December 30th, but don’t pay the invoice until January 20, 2006. When can the expense be claimed? It depends on when economic performance occurred.

Generally, economic performance occurs when goods or services are provided to you. In the above example, economic performance would arguably occur when the business cards and stationary were delivered with the invoice on December 30th. Thus, I would be able to deduct the expense for the 2005 tax year.

In Closing

As you can see, the cash method is the easier of the two accounting & bookkeeping methods. To determine the best method for your business, speak with a tax professional.




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