In the complex world of business finance, ensuring accuracy, compliance, and transparency is paramount. Auditing, the systematic review of financial statements and related processes, plays a crucial role in achieving these objectives. While many are familiar with the term "audit," fewer can differentiate between internal and external audits. Each serves its unique purpose, but both are indispensable for organizations aiming to uphold financial integrity. Diving Deep: Internal Audits Internal audits, as the name suggests, are conducted by an organization's own employees or by third-party professionals hired to serve in-house. [Read More]
Renting Out Your Vacation Home? Why Day 15 Is Pivotal For Taxes
Do you own or plan to buy a second home? Many vacation homeowners recoup some of the cost of owning that home by renting it out when not using it. This is a great strategy, but it has a number of financial and tax implications. And for the large part, these implications begin on a specific day. What is this day? How does it affect your finances? And how can you make the best decision about it? [Read More]
When Does An Individual Need CPA Services?
When people think about paying for third-party CPA services, they often focus on how accountants work with businesses. That is a legitimate job within accounting services. However, individuals also can benefit from hiring a CPA. If you're wondering whether your individual finances call for the support of an accountant, here's how to tell. Complexity Some individuals have finances that are as complicated as you'll see at major companies. If you own real estate, stocks, bonds, art, or other assets, simply tracking them can be a challenge. [Read More]
What Do Virtual Bookkeepers Do? The Key Responsibilities
A virtual bookkeeper can be the answer to your business's bookkeeping needs. They work exclusively online and can provide the same level of service as a traditional in-office bookkeeper. Because they work virtually, they can often offer more flexible services, such as working with clients on an ongoing basis to provide ongoing bookkeeping support. But what exactly do they do? This article explores the little-known responsibilities of virtual bookkeepers and how their services can help your business stay on top of its finances. [Read More]