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Hire Your Children to Work for You!

School is out for the summer, and perhaps you’re wondering how to make the most of your children’s’ vacation. If you are a business owner, and your children are under the age of 18, then you can save a significant amount of money on taxes by hiring your own child as an employee. Besides teaching…

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Can Your Income Statement Survive the New Overtime Rules?

In March 2014, President Barack Obama compelled his administration to expand overtime privileges to more workers. While the change is scheduled to happen this year, there is speculation that the final rule will go into effect on May 16, 2016, a few months earlier than planned; because if it goes into effect after May 16th, then the next President’s administration…

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About the New Rules for Fiduciary Reasonability

Earlier this month, the U.S. Department of Labor (DOL) published a rule change that applies the fiduciary standard to brokers and financial professionals who provide retirement advice. The intent of the rule is to ensure that financial professionals offering retirement advice keep their clients’ best interests in mind. It is a significant change from the “suitable” standard…

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A Good Accountant Costs Nothing

  Engaging a Certified Public Accountant (CPA) is the start of a professional relationship that includes more than preparing a tax return. It is acquiring a “partner” in your quest for financial security. Not just anyone can become a CPA. The Georgia State Board of Accountancy (GSBA) requires candidates to earn a degree with a concentration in…

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How Can an Accountant Improve Profit?

Do you own your own business? People get into business for a variety of reasons, from wanting to fulfill a childhood dream to hoping to turn a profit, from believing in a product to wanting to gain a new life experience. No matter why you got into business, every business owner shares one need: the…

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Business Accounting Mistakes To Avoid

Most entrepreneurs don’t get involved in starting a business because they simply love the financial end of it. Sure, every business owner wants to make a profit, but how many CEOs of small businesses have you met recently that rave about the joys of financial tracking and accounting? That’s what we thought. However, that doesn’t…

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Why Should You Hire a Financial Expert?

Christmas has passed, the New Year’s celebrations are over, and resolutions are starting to fade with every passing week. For many businesses, winter is a hard season, filled with cold and endless snow and ice. This year can be different. Often, we tend to want to hold onto control of our businesses, since they are…

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New Year's Resolutions in Business

When you think of New Year’s resolutions, you don’t often think of anything besides exercise, weight loss, and personal goals. Most people think in short-term goals, rather than establishing a long-term lifestyle shift. Oftentimes these changes can be drastic, and as a result, end up being rather short-lived. It’s time to redefine New Year’s resolutions.…

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Bookkeeping and Accounting: How Are They Different?

There are many things that separate a small business from a large one: number of employees, revenue created, and even things like marketing strategy and growth goals. Another separation is whether you use a bookkeeper or an accountant. Oftentimes, people who are new to business tend to lump bookkeepers and accountants into one category. Although…

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3 Signs Your Business Needs a CFO

Starting a business is a difficult task. Our whole lives, we’ve been told that starting a company is part of the American dream, it’s something worthwhile, it’s a goal to be proud of. While these sentiments are true, people tend to forget to tell you that you’ll be working 100-hour weeks at first, pouring all…

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