Although many business owners are passionate about the product or services they provide, not as many are as passionate about the bookkeeping aspect of business. Around the United States, businesses spend $66 billion every year on bookkeeping and payroll services. There are more than 773,000 people in the country who help businesses with their bookkeeping needs. That kind of demand […]
Category: Finance & Accounting
7 Common Mistakes in Bookkeeping to Avoid for Your Business
Recent statistics reveal that cash flow problems cause 82% of small businesses to fail. It is not easy opening a small business. There are many considerations, and bookkeeping is a top priority. A brilliant quote from Benjamin Franklin is this: “If you fail to plan, you plan to fail.” This could not be more true! You must keep a keen […]
10 Huge Benefits of Outsourced Accounting Services
Did you know that late filing of taxes is one of the most common errors made by US businesses according to the IRS? This results in penalties, which cut deep into the profit of companies. But do you know how to avoid them in these lean economic times? One way is to get professional help so you can concentrate on […]
How to Avoid Capital Gains Tax When Selling a Business
Did you know that over 10,000 businesses are sold in the United States each year? It’s no surprise then that some business owners are concerned about capital gains tax when it comes to selling their businesses. The good news is that you may be able to avoid or reduce your capital gains taxes when selling a business. Let’s take a […]
How to Do Financial Projections for a Startup
Starting a business requires a lot of planning and consideration. The amount of work you put into planning your business operations can determine its success. To help get your idea off the ground, you may seek a loan or investors to back your venture. Financial backers need to see that the money they are committing to your business proposal is […]
How to Hire The Best CPA For Your StartUp | Propel CFO
Did you know that 82% of businesses will fail due to cash flow problems? As a small business owner, you have a lot on your plate. You’re responsible for making sure your company is running smoothly and that you’re constantly growing – which can be tough to do when you’re also doing the books yourself! It’s hard enough to find […]
7 Reasons to Hire a Bookkeeper for Your Business
Did you know that 82% of businesses will fail due to cash flow problems? It can be tough to manage your company’s finances and keep track of your business’ performance on your own. Juggling a busy schedule and trying to stay on top of your company’s financials can be overwhelming and time-consuming. That’s why so many companies hire a bookkeeper. […]
Explaining What CFO Services Are
The average chief financial officer (CFO) in the US makes around $400,000 a year. However, having a c-suite level financial officer is invaluable for any business. But, of course, hiring a full-time CFO is not financially feasible for small and medium-sized businesses. Fortunately, you can hire Propel CFO to provide fractional CFO services to maximize your business growth potential while saving money. This […]
Exploring the Advantages of Outsourced Accounting
Outsourcing is one of the most common strategies used by companies to save money. In fact, a study found that 39% of companies outsource their finance functions. Do you want to learn more about why you should consider outsourced accounting services for your business? Keep reading these advantages of outsourced accounting management to see if it would be a good fit […]
A Small Business Accounting How-To Guide for New Entrepreneurs
Did you know there are 31.7 billion small businesses in the US? Unfortunately, as many as 20% fail within the first year. So how do you ensure you have time to concentrate on the things that matter, bringing in revenue? One way is to streamline your accounting process and know what you are doing. Read on as we discuss the […]