Speaking with entrepreneurs recently (especially those w/businesses that buy/sell inventory) I’ve noticed a lack of understanding of the difference between cash flow and net income, profitability. Let me give you an example: Business selling inventory Start business by purchasing 10,000 units…

Form 1099 Filing Requirements If you made a payment during the calendar year **as part of your trade or business**, you are likely required to file a 1099 or Information Return with the IRS. Form 1099-MISC would be issued for…

We’ve been working hard researching and implementing cloud-based accounting and financial tools to help our clients organize their data and cut down on data entry while increasing accuracy.  From an accounting perspective, our focus has centered on Xero (www.xero.com) and…