Welcome to the Blog
Welcome to the Harper & Faye blog, your go-to resource for expert advice and practical tips on managing your finances. We're thrilled to have you here and look forward to helping you navigate your financial journey with confidence and clarity.
You Don’t Need 7 Bank Accounts: Why 3 Is Enough to Manage Your Business Finances
One of the first major decisions you'll face when setting up your small business’s financial system is choosing between cash accounting and accrual accounting. Both methods offer different ways of tracking income and expenses, and the choice you make can have a significant impact on your business’s financial reporting, tax obligations, and day-to-day management.
Cash vs. Accrual Accounting: Which Is Best for Your Small Business?
One of the first major decisions you'll face when setting up your small business’s financial system is choosing between cash accounting and accrual accounting. Both methods offer different ways of tracking income and expenses, and the choice you make can have a significant impact on your business’s financial reporting, tax obligations, and day-to-day management.
Tax Deductions Every Small Business Owner Should Know About
As a small business owner, maximizing your tax deductions can have a significant impact on your bottom line. With so many potential write-offs available, knowing which ones apply to your business can save you thousands of dollars when tax season comes around. However, navigating the world of tax deductions can feel overwhelming without a clear guide.
How to Handle Payroll Taxes: What Small Business Owners Need to Know
Payroll taxes can be one of the most complicated aspects of running a small business. If you're an entrepreneur with employees or contractors, handling payroll correctly is crucial to avoid penalties and stay compliant with tax laws. Between distinguishing employees from contractors, keeping track of deadlines, and filing the proper paperwork, the process can feel overwhelming.
Why September is the Perfect Time for a Bookkeeping Clean-Up
As summer comes to a close and we have break in our schedules before the hustle and bustle of the Holidays hit, September is the perfect opportunity to get your business finances/books in order. With the end of 2024 coming fast, now is the ideal time to take a step back and ensure your books are clean, accurate, and ready for whatever the end of the year brings. And if you are anything like us its holidays parties, traveling or lots of celebrating!
Common Small Business Tax Questions!
Separating personal and business finances is paramount for ensuring financial clarity, protecting personal assets, and maintaining professionalism. By establishing distinct financial entities, entrepreneurs can accurately track business transactions, safeguard personal wealth from business liabilities, and build credibility with stakeholders. This practice also simplifies bookkeeping reporting and compliance, contributing to long-term financial stability and business success.
