There are many benefits to outsourcing your tax and accounting to qualified teams of tax and accounting experts throughout the Racine and Kenosha areas. Below we will discuss a few of them. Access to Expertise When you outsource your taxes and accounting, you gain access to that firm’s tax and accounting expertise. Their professional tax… Read More
There are currently 32.5 million small businesses in the United States; this accounts for 99.9% of all businesses in the US. However, out of these small businesses, more than 20% will fail in the first year, and almost half within the first five years. Below are just a few ways to ensure your small business… Read More
Many of us have concerns considering our financial futures; especially with the general climate of the world today – with food, gas, and utilities increasing in cost. We all have general questions regarding emergency funds, how to curb spending, create budgets, plus a plethora of other financially related questions. Being prepared is of the utmost… Read More
Donations to a non-profit organization can be classified two ways for the purposes of accounting and tracking. These are restricted and unrestricted. Restricted donations are donations with instructions and stipulations on their use, and they are required by law to be used for their described purposes. While most non-profit organizations will request donors to make… Read More
When you retire, you may think your tax bills will be smaller, tax returns simplified and you no longer have to perform tax planning. While this is possible, a lot of people find this to not be the case, as the combination of Social Security, withdrawals from retirement accounts and pensions can raise their income… Read More
The field of accounting can be tricky to navigate. We at Perfect Balance Books aim to make that easier for you. Below are some basic accounting terms which will help you understand the process. Revenue – Revenue is also known as sales or income and is the total income amount received at a point in… Read More
You as a QuickBooks user may or may not understand the purpose of Undeposited Funds in the software. Hopefully, if you’re not too sure how to use it, after this short article, you’ll better utilize the feature and you’ll wonder how you ever did without it before! The purpose of Undeposited Funds is to… Read More
As technology has progressed, so too has the way many people do business. From watching tv to scheduling home services to ordering clothes & groceries to outsourcing work, it is all available online now and can be done across state lines or even around the world. With the global pandemic in recent years, it has… Read More
Accounting Period A specific period of time covered by financial statements. Accounting periods can be one of several variations depending upon your business: Monthly Quarterly Yearly Accounts Payable (A/P) This represents money your business owes for goods and services. A/P can range from your utility bill to the rent on your office to suppliers. Typically… Read More
It’s the beginning of the year, Christmas and New Years have been celebrated and there isn’t another holiday for months. With no looming distractions, now is the perfect time to ensure you have all of your tax documents in order, as well as be on the lookout for any documents that may arrive by mail.… Read More