How does Bookkeeping work?

The process of doing your own or giving someone else the responsibility is tedious and can be time consuming.

Going At it Yourself

  • Learn the Basics for Your Industry
  • Choose an efficient accounting software
  • SEPERATE YOUR PERSONAL AND BUSINESS
  • Create Your Own Records (Payroll, Invoices, Debts)

Outsourcing?

  • Give Access to Financial Accounts or Bank Statements
  • Answer Bookkeeper’s Questions about scope of your business
  • Prodive with necessary info to understand your business process
  • Give previous tax returns

Bookkeeping is one of the oldest professions in the world! They offer support and guidance for any type of business.

Bookkeeping is recording and assigning financial transactions, journal entries, posting to ledgers and so much more. Bookkeeping is determing what systems to use, software to use, and essentially what expenses need to go. Bookkeepers are the tires to a car or the key to the door.

It’s Coffee Day!

Did you know you can get free coffee today!

Today only, coffee shops and franchises have promo codes and offers on COFFEE!

iS cOFFEE a tAX DEDUCTION?

As a small business owner, you CAN deduct coffee as a business expense if:

~ Coffee is reasonable and necessary
~ You are tracking coffee expenses
~ Coffee is a fringe benefit employees
~ Purchased and provided to business employees
~ Coffee is provided to improve productivity
~ You host a business meeting in person over coffee
~ Coffee is provided to provide a better work environment
~ You’re Buying for your home office

Coffee for the office is tax deductible!

Now, if you’re a w2 wage earner, coffee is not a tax deduction. If you get coffee on the way to work, it’s not a business expense.

For 2021, it’s 100% deductible!