Marcus, Fairall, Bristol + Co., PLLC

When running a small business, you should have a basic understanding of accounting. Knowing the basics will make you feel confident about the future of your business, and you’ll have better knowledge to plan for your long-term financial success. As a small business owner, accounting helps you track and manage your money effectively, especially if you’ve just launched your business recently. If you have any questions about your business accounting, please contact one of our  certified public accountants  (CPA), and we'll make sure you have all of the information you need to make sound financial decisions. Organize your books Begin by making a habit of compiling bank statements, recording transactions such as purchases, sales, and cash receipts, and learning how to categorize them. As a new business owner, you can manage your bookkeeping needs by using a simple spreadsheet that allows you to categorize the various streams of income that your company has. Using a spreadsheet, on the o

The federal government put tax credits and deductions to help ease tax liabilities and help taxpayers save on their returns. They, however, work differently.  The tax credit will reduce your income tax bills. They are of different types, including the single-parent tax credit. A single-parent tax credit reduces the total amount of taxes owed to the government by a taxpayer who is the sole caregiver for a child. They are eligible for the Single Parent Child Care Credit. Whether the tax credit will help promote behavior or ease the burden of raising a child, a tax credit for single parents is designed to help shield them from the never-ending expenses of a child's needs. Here's everything you need to know about single-parent tax credits and the various types of tax credits available to single parents. Related articles: What is the Difference Between Tax Credits and Tax Deductions Do I Qualify for Earned Income Tax Credit? Who Is Eligible for Single Parents Child Care Credit?  To