Standard Mileage Rates for IRS 2012
Don't forget to deduct your mileage!!!
Cost-cutting is often associated with down times. A slowdown in sales or increased competition may force a business owner to reduce expenses just to maintain a satisfactory profit margin. On the other hand, a savvy entrepreneur keeps a constant watch on costs even when business couldn't be better. Wise reductions in specific fixed and variable expenses offer a number of benefits. They make the business more efficient; provide opportunities to cut prices and attract more volume; and make it easier to build reserves, whether to fund long-term growth or survive short-term downturns.
Accounting is not just about knowing about cash flow and expenditure. It involves knowledge of profits losses, incomes and expenditures. Without accounting it is not possible to know how much profit or loss a business is making.
As the looming “fiscal cliff” dominates the post-election news cycle, it’s hard to know what tax and financial moves make sense this time of year. Pundits are talking in circles, and experts don’t possess a crystal ball. In this environment, it’s understandable that startups and self-employed professionals are confused about the next steps.
Just about everyone in business needs an accountant, and should secure one.
One of the primary reasons for having financial accountants is to monitor the performance of a business and also to keep a check that all the finances of the business are legitimate and accurate. This is to help reduce any illegitimate financial transactions and keep everything above board.
The rich want it and so do the poor. This is one thing that everyone would want! How much time do you think you have spent trying to figure out your accounting? How much frustration and stress have you had trying to figure it out?
The significance of accounting has never been more apparent than in today's market, with the struggling economy and the job market in decline. Though the loss of jobs may be happening in many fields the one that continues to stay strong is accounting. The reasons for this are the same reasons that accounting is such an important aspect in the economy and in society.
As a practising auditor for a large global accounting firm, I have plenty of experience upon which to base this article. In my line work, the number of businesses I have worked within has to be a number in the mid 30's. And I'm going to make a statement that would go completely against the public opinion: Accountants are ethical people. In fact, I'd go one further and pronounce that they're very ethical people.