business accounting

What You Should Know About Virtual Accounting

Your accountant doesn’t have to be physically present for your business to benefit from their expertise. Modern technology makes virtual accounting an excellent alternative. It analyzes your accounts remotely and updates them appropriately. Virtual accounting also works if there’s a significant distance between your preferred accountant and your business premises. Some individuals and companies choose […]

Written by prositesfinancial • Dec 4 • 3 minute read

What is Financial Health?

Financial health refers to the overall state of your monetary affairs. It’s your ability to manage earnings, expenses, debts, wealth, and fiscal shocks. There are various ways to create financial health, including savings, retirement plans, and planning how you spend your income. If you can comfortably handle unexpected financial emergencies as well as short- and […]

Written by prositesfinancial • Nov 24 • 3 minute read

Using a 529 Plan To Save For College

A 529 plan is a savings plan that is used to save money for college which offers certain tax and financial aid benefits. 529 plans are quite versatile and they can be used for other things too, such as K-12 tuition bills. The Types of 529 Plans There are a couple of different types of […]

Written by prositesfinancial • Sep 3 • 4 minute read

Credit Card Negotiation Options and Risks

Credit card debt is one of the most pervasive financial issues faced by Americans, with the average credit card balance as of 2016 being $5,551. If paying off your credit card debt is proving to be a substantial challenge, or worse is making it difficult to pay critical household expenses such as groceries, rent, medical […]

Written by prositesfinancial • Apr 17 • 4 minute read

Why Dave Ramsey Might Just Be Right About Using Only Cash

The truth is, most of us just don’t have the self-discipline necessary to use credit cards responsibly. We live in an advertisement saturated consumer society that encourages us to spend, spend, spend at every possible opportunity, and everywhere we go. As a result, most Americans are up to their eyeballs in debt with the national […]

Written by prositesfinancial • Jan 7 • 4 minute read

Top 10 Easy Ways To Save Money Today

Many of us feel like we can never seem to make enough money to make ends meet. It might be drowning in credit card bills or trying to make a student loan payment, but there’s always a reason why we don’t have enough money. While it would be ideal to make more money at your […]

Written by prositesfinancial • Jan 7 • 4 minute read

Key Tips About Student Loan Debt

Overall, the need for student loan debt reform is clear. However, current economical conditions and increasing education costs don’t bode well for any significant changes in the near future. With the student loan debt now surpassing credit card and auto loan debt, it is more important than ever to take precautions and prepare as much […]

Written by prositesfinancial • Jan 7 • 4 minute read

How To Begin Building Your Credit

Starting you credit history is the perfect opportunity to begin good spending habits. With over 45 million Americans you are not alone in this pursuit, and there is a method to the madness. There is so much information out there it may be hard to decide where to begin, but after a little research you […]

Written by prositesfinancial • Jan 7 • 4 minute read

How Buying a Home Impacts Tax Preparation

Owning a home comes with many responsibilities, from regular maintenance to insurance and tax implications. Every year, millions of homeowners face the challenge of properly reporting all their deductions, credits, and taxable income from their properties when filing their returns. From mortgage interest to property taxes, capital gains, and more, the tax ramifications of homeownership […]

Written by prositesfinancial • Jun 7 • 3 minute read

How Accurate Financial Statements Can Fuel Business Growth

Savvy business owners understand the importance of having a complete, up-to-date understanding of a business’ financial status. One of the most effective ways to accomplish this is through timely and accurate financial reports. When produced efficiently, financial reports provide a snapshot of financial data that not only reveals the health of your business but also […]

Written by prositesfinancial • May 31 • 2 minute read

9 Questions to Ask When Searching for a Business Accountant

A professional accountant plays an essential role in helping your startup achieve its strategic objectives. However, picking the right fit for your business isn’t always a straightforward affair. These questions will help you in the process of searching for a suitable business accountant: 1. What Are Your Credentials? Certified public accountants (CPAs) are among the […]

Written by prositesfinancial • May 24 • 2 minute read

Understanding the Difference Between FBAR and FATCA

When it comes to international tax reporting, you’ll undoubtedly come across these two acronyms: FATCA and FBAR. While both FATCA (Foreign Account Tax Compliance Act) and FBAR (Foreign Bank and Financial Account Reporting) are forms related to reporting foreign assets, investments, accounts, and income to the U.S. government, they have several notable differences. Depending on […]

Written by prositesfinancial • May 17 • 3 minute read

Personal Finance Tips for Young Professionals

Money management and financial planning topics don’t always get the attention they deserve. Many people regard personal finance as a sensitive subject best avoided in day-to-day conversations. However, it’s a crucial topic that significantly impacts everyone’s long-term success story. As a young professional looking to build a better future for yourself, there’s a lot to […]

Written by prositesfinancial • May 10 • 3 minute read