5 Small Business Accounting Tips – Miami Accounting

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Are you a new small business? These accounting tips can make the difference in getting your start-up on the right track. Presented by Jacob Zhang, Managing Partner of Ivy Accounting, Tax & Advisory.

This is the first in a series of informative videos helping to keep your small business on the right financial path.
As your business grows, managing your finances properly becomes extremely important. Today, I’m going to share with you 5 tips
to help your business succeed when it comes to accounting.
#1. Keep your business and personal expenses separate.
While it’s possible to pay back your company for business expenditures, keeping separate bank and credit card accounts will save you hours of work and help you keep track of all
your tax deductible expenses in one place.
#2 Do not make the mistake of doing your own taxes. Small business owners frequently save money by relying on computer software to take care of their taxes. While this might seem cost effective in the short term, not hiring a professional can cost the business owner down the road due to unclaimed deductions or underpayment which can lead to audits or penalty.

If you are a Miami small business, don’t make the mistake of trying to do it all yourself. The money you spend in getting the right advice can save you money in the long run.

Ivy Accounting, Tax & Advisory is a full service firm providing bookkeeping, accounting and tax preparation services to Miami FL small businesses, corporations and individuals.

Don’t wait until you are having financial problems – give us a call at 786-363-0233 to schedule a consultation.

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