As economic conditions fluctuate, many individuals are considering choosing to become an entrepreneur instead of simply looking for another job.
As an entrepreneur it is important to see that there is more than simply starting a business and collecting revenues. If you do not account for your revenues, inventory, and other financial portions of your business, the IRS can get involved which can severely increase your tax liability and hinder your ability to do business.
General computer applications such as Microsoft Excel or even more specialized applications such as QuickBooks can help keep track of your transactions, expenses, and inventory. This is an important step in structuring your business so that it can thrive in the future. To learn more about how to use this software, visit QuickBooks Online Tutorials.
If you proceed in starting a business, let Gary M. Kaplan, C.P.A., P.A. help build your business plan. Give us a call to receive your free consultation.
