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Are you a single owner or an active member of an LLC (Limited Liability Company)? Are you looking to transform your company to a multi-member LLC?  Whatever it is, you will have some questions on the tax part of your business. Below are a few things you need to know as an LLC owner: Tax laws for LLC- Basic: Firstly, it is very important to know the way in which an LLC is structured as stated by the tax law. Corporation and LLC are very different in terms of taxation. An LLC is not considered and taxed as a separate business unit and all the profits & losses go to each member of the company. The members of LLC must file their profits and losses on their personal tax returns, like any other owners of the partnership. The business doesn’t need to pay the federal taxes. This rule is not applicable in all the states, though; there are a few states who want LLCs to pay taxes annually. Based on the number of members in an LLC, the Internal Revenue Service will con...

Have you just started up your own business? Are you looking for tips to manage your cash flow? Does the cash flow management intimidate you? Worry not and Read through…. Keep track of your cash flow: This would be the easiest tip of them all. Everything you need to do is constantly monitor and measure your cash flow. Here are some tips you can follow to do the same: Start measuring your cash flow Make a worksheet based on the cash flow Have a trustworthy person to monitor your cash flow To start doing this, you must know your numbers of the cash flow precisely. Maintain a good relationship with customers: Your customers play a very important role in your business and your cash flow management spree. Do improve your rapport with your customers; this will help you collect your receivables without any hitch and if you are lucky you can collect more cash for your inflow, should you require. Conflicts between the customers and you are natural phenomena in a business. ...

Would you like to focus on your core business, concentrate on the client base, and be more productive? Yes? We know right? Everyone running their business would love that. Business owners would at some point in time feel that  Accounting  is hogging his time and it is not a very productive job but an essential one. In this era, with internet in hand the world has shrunk so much that you can contact anyone you want at any time. So, why not use the same technology to  outsource your Accounting  and focus more on your core competencies? Let’s see some good 5 reasons why you should outsource your Accounting ASAP: More focus on your core competencies It goes without saying, if you outsource things like accounting then you have nothing to care about but concentrate on what is more important and revenue yielding in your business.  Outsourcing accounting  will save your time of checking the books time to time and let you focus more on what is neces...