If you are an investor or preparing to venture into stocks, bonds, real estate, or other forms of capital assets, you must be aware of the tax charge on capital gains. Capital gains are subject to tax be it long-term or short-term. Learn the difference here. Read more
You may be afraid you cannot afford a bookkeeper, and are putting off getting one. But here's a secret, it's probably even more expensive to do your own bookkeeping. So, what does a bookkeeper cost? In this guide, we'll examine the cost of a bookkeeper versus the costs of doing it yourself. Read more
Hiring an accountant is a big step for any business. For some, in fact, it can feel like one of the moments that turns an idea or a small venture into a real business. Nevertheless, for a lot of small or growing companies, hiring someone in this kind of role is virtually inevitable. Here are four signs it might be time for your business to make the hire. Read more
Every business must record all of its cash transactions in a cash book. A professional bookkeeper records these data and finds the difference between payments and receipts to determine the amount of available cash. So, how is a cash book prepared? More importantly, what is the importance of a cash book in accounting? Read more
A lot of us have a variety of hobbies that we enjoy. Your hobby might even be able to earn you some extra income. The question is, how do you know if your hobby is a business? Or can a business just be an expensive hobby? Learn all about the difference between a business and a hobby, and how it effects your taxes, in this guide. Read more
Keeping accurate accounts as a small business takes two major forms; accrual accounting and cash basis accounting. Both account types have benefits for either long-term or short-term purposes. Learn the difference between the two here. Read more
Filing taxes can be stressful, but there are a number of services available to ease the process. Among the most popular services are H&R Block and TurboTax. Learn the difference between the two, and which is best for you, in our guide. Read more
A nonprofit organization or entity is a type of organization that doesn't earn profits for the owners. It's tax-exempted due to its societal role. Often, a nonprofit organization can be for religious, scientific, and educational purposes amongst others. Read more
As an unconventional retirement account, the Roth IRA is funded by after-tax income. Learn all about the Roth IRA, and when you should consider opening one in this guide. Read more