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bookkeeping services bookkeeping services in Miami

bookkeeping services bookkeeping services in Miami

WHY IS CASH FLOW MORE IMPORTANT THAN PROFIT

Bookkeeping professionals will tell you Profit is the revenue remaining after deducting business costs, while cash flow is the amount of money flowing in and out of a business at any given time. Profit is more indicative of your business’s success, but cash flow is more important to keep the business operating on a day-to-day basis. Over the long term, lack of profit has a negative impact on cash flow.
One of the most important things about bookkeeping services is understanding the difference between cash flow vs. profit. Many entrepreneurs start businesses with the goal of turning a profit. But what they don’t realize is that cash flow is what keeps the lights on.

Want an IRS Audit? Misclassify an Employee as a Sub Contractor

Want an IRS Audit? Misclassify an Employee as a Sub Contractor Some simple business decisions have enormous tax and legal implications, like whether to hire someone as an employee or an independent contractor.  It’s no secret that it’s cheaper to hire independent contractors.  You don’t have to withhold taxes or pay any benefits.  They are …

Want an IRS Audit? Misclassify an Employee as a Sub Contractor Read More »

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