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What Is a Sinking Fund and How Can It Help Your Finances?

A sinking fund is money saved up or set aside for a specified use at a stipulated time. You can establish a sinking fund by saving a bit of your income each month, completely separate from your savings account or emergency fund. Sinking funds are an effective way to save and pay for large expenses […]

Written by prositesfinancialOct 27 • 2 minute read

How to Create an Effective Budget for Your Business

First-time business owners have to figure out several aspects of launching and running a business, and chief among them is creating a budget. The budgeting process can be intimidating for startups, especially if you aren’t familiar with business terminology and how to gather accurate financial information. While creating a business budget may seem daunting, it […]

Written by prositesfinancialOct 20 • 2 minute read

How Does Cryptocurrency Impact Your Taxes?

Recent periods have been a busy time for cryptocurrencies, even amidst the global pandemic. Bitcoin, which is the largest cryptocurrency as per the market value, initially skyrocketed before fluctuating widely towards the end of 2020 and the start of 2021. Other cryptocurrencies, such as Tether, Ethereum, and Ripple, have also increased in popularity as the […]

Written by prositesfinancialOct 13 • 2 minute read

The Top Signs You Should Hire a Bookkeeper

When you first launch a business, hiring a bookkeeper might seem like an unnecessary expense. You may feel confident in your bookkeeping skills and opt to do it yourself. But as your business grows and you hire a few extra employees, spending more time doing the books can easily overwhelm you and divert your focus […]

Written by prositesfinancialOct 6 • 2 minute read

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