Charles Steven

  What can a tax advisor do for my business? It is a question many new business owners ask themselves. A tax advisor or tax advisory service provides detailed information and services to help companies and individuals make the best financial decisions.  Whether you are in the process of buying or selling a business, expanding into other states, or expanding globally, tax advisors may help you understand how your business decisions and position will affect your tax situation. Additionally, tax advisors aim to help their clients minimise risk and maximise opportunities while also guiding clients on how to comply with the tax law. Below is a look at what a tax advisor does, and when you should hire one.  What Services Do Tax Advisors Provide Businesses?  The role of a tax advisor is to offer commercial tax advice and help manage the financial aspects of your company. The first step in choosing a tax advisor is understanding what they do and how this can benefit your br...

  The core responsibility of a bookkeeper is to document and manage all financial transactions of a business. These financial transactions can include sales, purchases, credit card charges, invoices and wages. Accurately documenting such information may provide business managers and owners with an understanding of their company's financial health, spending habits and expense budget of a business The bookkeeper will record financial data into general ledgers, which are used to produce financial reports and statements.  Keep reading to see what financial reports a bookkeeper can prepare for a business.  Balance sheet A balance sheet is a formal document that summarises the company's financial balances. The document will report on the company's assets, liabilities, equity capital and total debt, which provides a snapshot of the business's financial position. Cash flow statement  The name says it all! A cash flow document keeps track of any cash inflows a company receive...

  When it comes to starting up your very own business, one of the first steps you should take is to consider your start up expenses. You need to make sure that you have enough funds to sustain the beginning few months of your business operations, at the very least before it starts to turn over a profit. To help you make sure you have enough funds, you first need to understand your potential expenses. Below are three start up expenses to consider. Marketing Budget You will need to make sure that you have enough funds to sustain your marketing efforts. Unless you are doing everything in-house, there are bound to be a few expenses that you’ll have to make. For example, commissioning an artist to create original art pieces promoting your services and products, or paying for an advertisement to display on social media platforms. Borrowing Costs If you are going to borrow money to start your business, then you will need to factor in your long-term interest and repayment expenses. Dependi...