If you have recently starting making jewelry out of your home and selling it, you might not think your new at-home business needs a professional accountant. However, here are some ways that a small business accounting expert can be beneficial for your jewelry business. Set Up Business Structure or Type While you might be happy selling your pieces as you make them, if you plan to treat this endeavor as a business, the first thing you need to do is to choose the appropriate business structure.
17 December 2015
For various reasons, owners of individual retirement accounts sometimes withdraw some of the funds early. Unfortunately, there may be an additional penalty assessed in addition to the payment of regular income tax on the distribution. A few penalty exceptions exist, and one of them may apply if a home is purchased or built with funds received from an early IRA withdrawal. The early withdrawal penalty is intended to provide incentive for IRA owners not to withdraw funds before retirement.
14 December 2015
As a bar owner, you run the risk of employee theft in many ways -- cash, product and time. And while increasing physical security in your bar with things like cameras, management oversight and good hiring practices will help, you may also find that your accountant can help a lot in your battle against theft. Yes, your accountant, even if he or she is never in your bar. Here are 3 examples of how your accountant can help you look for signs of and prevent employee theft.
10 December 2015