• Bookkeeping Tips

    New Jersey Bookkeeping Basics: 6 Key Financial Terms Everyone Should Know

    Bookkeeping terms

    So, you’re not a bean counter.  That’s OK.  It’s not like everyone can be like the financial wizards at Norton! No one is born knowing everything and sometimes, the language used in the world of finance can be bewildering – even alienating. In this episode of New Jersey Bookkeeping Basics:  6 key financial terms everyone…

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    New Jersey Bookkeeping Tip: Things You Need to Know About Robo-Advisors

    robo-advisor

    Robo advisors may seem like a futuristic way to invest your money, but they’re quite practical.  If you’re an investor who wants to avoid the high price of a human advisor, a robotic one would seem to be just the ticket. We’re offering this New Jersey Bookkeeping tip:  things you need to know about robo-advisors,…

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    W-2 vs W-4: What’s the Difference and When to Use Them

    w-2 versus w-4 tax form

    Taxes.  They can make your head spin.  And one of the most challenging features of the US taxation system is the fact that things can change in a heartbeat. If you’re new to doing business taxes, you can often feel like Dr. Livingston – hacking your way through the dense underbrush using only a machete. …

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    Small Business Tax Preparation Mistakes to Avoid from the Pros

    tax preparation

    When it’s time to get your taxes in to the IRA, all your hard work over the year can come to naught in the heat of the moment. When you’re under intense pressure mistakes happen.  But they needn’t. We’ve compiled these small business tax preparation mistakes to avoid from the pros.  These are key areas…

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    Which Accounting Period is Right for My Business?

    a clock with tax instead of 12

    Perhaps you have just started a new business and you’re wondering how to choose the right accounting year for your business. Basically, there are two kinds of tax years: the fiscal tax year and the regular calendar year. The choice of your accounting year will significantly affect your accounting strategy and business taxes as you…

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    Top Payroll Service for Small Businesses

    payroll service image

    Contrary to what many people think, payroll is not a simple bookkeeping function or an annoyance that business owners or accountants have to take care of every month. It plays a crucial role in attracting, motivating and retaining employees. If miscalculation leads to errors, employees may become demoralized and dissatisfied. Errors in calculation aren’t the…

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    Small Business Accounting: Accrual vs. Cash Methods

    accountant working

    When it comes to managing your business’ books, one of the most important decisions to make is choosing which accounting method to use. Thankfully, there are only two options: accrual accounting and cash-basis accounting. While cash accounting recognizes expenses and revenues only when money changes hands, accrual accounting recognizes expenses when they’re billed and revenue…

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    How to Read Financial Statements

    Computer, smartphone and a pen

    Understanding financial statements is a great skill to have as a business owner. The numbers can tell you a lot when they’re subject to expert analysis. But when you’re a busy entrepreneur, your plate already good and full.  You don’t always have time to track performance, or for the kind of data analysis you need…

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    Creating A Projection For Your Small Business

    Accounting and bookkeeping projection for 2018 photo

    Why Create A Projection? Forecasting revenue & expenses for the year is crucial for your small business. Projections serve as a yardstick, which helps business owners plan and budget as the year progresses. The goal is to estimate Income & expenses for each month of the year. Once this is laid out, you will get…

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