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  • Accounting plays a vital role in running a business because it helps you track income and expenditures, ensure statutory compliance, and provide investors, management, and government with quantitative financial information which can be used in making business decisions.

  • Making Sure All Your Charges are Correct---Most people like to know how much money they currently have, which means they check it on a regular basis to verify charges. Think about it: when is the last time you logged into your bank account? What were you there for?
  • Accountants also are consistently working to maintain and expand the financial health of businesses. They do it several ways—just like you do. Investments, savings goals, analyzing, debt control and profitability are just a few key concepts in financial planning. Every time you sit down and think about how you’ll have the money to do important things you are  using accounting skills
  • If you're the type of small-business owner who prefers to spend your time cooking food or making pottery to working, you may resent the time and effort you have to put into accounting. However, without basic bookkeeping and accounting, your company will flounder. You need to keep books so you can understand what's going on with the company financially, and so you can pay your taxes and remain in the good graces of the government agencies that regulate your business activities
  • Accounting also tells you when your operations tend to be busiest and when you spend the most money on expenses such as taxes and licenses. If your books are current and accurate, you are able to use the information they contain to make better choices and earn a better living.

 

 

 

 

 

NRI BUSINESS NETWORK LAUNCHED & UPDATED
Focused on Non-Profit Passions & promote NRI Businesses worldwide
  • First, you are joining 15 NRI Accountants in Your State to run this website in your State. This will include News as well as promoting yourCommunity business products worldwide. Your News Video directly connected to NRIpress.com
  • Secondly your Local State Network 15 Accountants will communicate with other professional 20 websites (around 300) people of your State such as NRI Dentists, NRI Hospital Owners, NRI Accountans, NRI Lawyers ,...etc. PLEASE Go to NRI Business Directory at left column of (Click) www.NRIpress.com
  • You can promote your businesses and your community Projects with 300 Business owners in your State and worldwide. As NRIpress.Club member, you can join for yearly Award Nite Function/Help projects for Seniors and needy NRIs. You can involve in Media Hot topic team and State News for NRIpress.com

In 2019, we have launched 5 websites such as NRIinsurance/NRIrealtors/ NRIrestaurant/ NRIFarmers.and NRItru.cks with great success. As of April 01, In 2020, we have launched about 16 websites to complete our full project. For More Informarion, Benefit and some financial help, PLEASE.......Click Here

Below News Spondored by Diamond & Platinum Members

With Florida law, almost all states require online sales tax collection

Under the bill, remote sellers and marketplace facilitators will be required to collect Florida sales taxes on sales to purchasers in Florida if the seller or facilitator makes a substantial number of sales into the state. “Substantial” is defined as conducting any number of taxable remote sales into Florida exceeding $100,000 during the previous calendar year. ....Read More

Deadline for certain single audits delayed because of pandemic

The due date for certain single audits to be submitted to the Federal Audit Clearinghouse has been delayed six months as a result of challenges related to the coronavirus pandemic. The Office of Management and Budget (OMB) announced the extension in a memorandum for the heads of executive departments and agencies issued this week.......Read More

AICPA urges delay in tax deadline until June 15

The American Institute of CPAs is asking the Treasury Department and the Internal Revenue Service to push back the tax filing and payment deadline for two months. The AICPA sent a letter Thursday to officials at the Treasury and the IRS asking for an extension until June 15, pointing to the challenges created by the COVID-19 pandemic and the existing backlog at the IRS on tax returns filed last year........Read More

New PPP changes attempt to ease smallest businesses' access

The administration of President Joe Biden announced Monday that it would institute a two-week period starting Wednesday during which only businesses with fewer than 20 employees will be able to apply for Paycheck Protection Program (PPP) loans......Read More

Maryland’s Tom Hood joins the Association of International Certified Professional Accountants

Tom Hood, the longtime CEO of the Maryland Association of CPAs, has joined the leadership team of the Association of International Certified Professional Accountants (the Association). As executive vice president of business growth and engagement, Hood will report to Barry Melancon, CPA, CGMA, the Association’s CEO.....Read More

Partner capital account reporting gets transition penalty relief

The IRS provided transition penalty relief Tuesday to partnerships in complying with new rules for reporting partners’ capital account balances.

The relief in Notice 2021-13 follows up on Notice 2020-43, issued in June 2020, in which the IRS sought public comments to help inform its development of the r­ules......Read More

Some teleworkers could be hit with surprise tax bills

CPAs may find themselves spending a lot of time educating taxpayers about the state tax implications of working from home and other locations during the pandemic. A new survey conducted for the AICPA by The Harris Poll found that 55% of respondents who worked remotely this year aren’t aware of the potential tax consequences of not ....Read More

Taxpayers allowed choice of bonus depreciation rules

When the IRS issued final bonus depreciation regulations in September (T.D. 9916), it said it planned to issue procedures allowing taxpayers to choose to apply the final regulations in prior tax years or to rely on the proposed regulations issued in September 2019......Read More

Leading in times of crisis

The tumult of 2020 has amplified many issues that the accounting profession was already contending with, including future-readiness, diversity and inclusion, and technological investment.....Read More

How the CARES Act has affected business valuation

The coronavirus pandemic and the legi

slation designed to help employers during the crisis have added new challenges for professionals who perform business valuations. To help CPAs and other valuation experts meet those challenges, the AICPA on Tuesday issued a set of FAQs on how to adjust business valuations based on the Coronavirus Aid, Relief,.....Read More

   
   
 

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