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Five Reasons to go for Small Business Incorporation

Numerous budding entrepreneurs think of testing the waters first by incorporating their companies as sole proprietorships. However, most of them are not aware of the fact that, as asole proprietor, they and their businesses are treated as one and the same. This implies that the personal assets of the entrepreneur is not protected and would be seized in case debts or legal judgments are claimed against the business. This makes a person explore other options regarding small business incorporation that are more beneficial in terms of limited liability and other myriad advantages. Let us have a look at the five reasons to go for small business incorporation:

# 1: Personal asset protection

The limited liability companies both in the form of corporations or LLCs grant permission to business owners to separate and protect their personal assets. A properly structured and managed LLC or corporations gives limited liability to the business owners for business debts and obligations. However, in the case of corporations one has to follow more corporate formalities than a LLC to obtain personal asset protection.

# 2: Perpetual existence.

Irrespective of the changes in the management or ownership, the corporations and LLCs continue to exist. However, in case of sole proprietorships and partnerships, they cease to exist if theowner dies or leaves the business.

# 3: Additional credibility and name protection Adding "Inc." or "LLC" after your business name provides additional credibility as instant

legitimacy and authority are added to it. An incorporated company is considered to be trustworthy and is frequently preferred by partners, consumers and vendors. As your business

will be incorporated the other businesses in most of the states may not form an entity with the same name as your corporate name. This renders protection to your company name as well. Hence, with your small business incorporation you can leverage the legal benefits that will further help you in marketing and brand-building.

#4: Tax flexibility: Along with the limited exposure to personal liability LLC is taxed at the same rate as sole proprietorship. Moreover, apart from the profit and loss being passed through a LLC on the personal income tax returns of owners, it has the option to be taxed as a corporation. Also, after an entrepreneur sets up a corporation, the person has to go through double taxation both atcorporate and individual levels. However, they have the option to avert double taxation of corporate profits and dividends by choosing Subchapter S tax status.

# 5: Deductible expenses. Before allocating income to owners, both LLCs and corporations may deduct nominal business expenses including salaries of the employees. It is always prudent to get an expert advice to choose the right business structure for your small business incorporation in order to maximize the chances of financial and operational success for long run. For more information on the same call us now on 1800-945- 0645.

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Quickbooks online provides its users on- the -go gain access to where clients can take care of their books in real time just right off their dashboard. Also, it helps in clearing the focus as possible come to know which client needs your more attention with programmed notifications. Further, by working together with your team, you can work together much more easily through manipulated access to a sole client list. Along with that, QuickBooks online helps you complete your entire jobs at one convenient place. To gather more information regarding this application, you may contact us at our Intuit quickbooks online support number 1800-945-0645.

Yet , accessing quickbooks online version is not as easy as it seems to be. Similar to other software application, one need to have assistance and guidance during its usage. Hence, produce this task easier and simpler we have a team of quickbooks online professionals who does support you at any step of using this valuable app.

To gain more ideas and knowledge about using this application, you can call our Intuit quickbooks online support number 1800-945-0645.

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An industry that has demonstrated impressively rapid expansion and growth is cloud-based accounting software. One of the biggest players in this field is QuickBooks. Numerous businesses have leveraged the benefits of QuickBooks cloud based accounting and continue to do so. A basic question that would arise in anyone’s mind would be how to decide whether to switch to QuickBooks cloud based accounting software? The answer to this question might herald a new beginning and experience of your small business accounting. Let us take a look at the decisive factors in the form of pros and cons of cloud accounting software:

Pros:

·         Mobility – This is one of the greatest features of cloud-based software. Whether you wish to access your accounts from different locations, on the go or different devices, QuickBooks cloud based accounting software is one-stop-solution for all your accounting problems. With this feature you can check your balance sheet, log receipts or create a new invoice on different devices such as PC, android phone or your iPad. It is the level of flexibility provided by cloud based accounting that makes it unique.

User-friendly     – QuickBooks     cloud-based software is designed for small business owners, rather     than for accountants. Due to simple terminology and intuitive interfaces, it     becomes a lot easier for novice to maintain proper bookkeeping.

Automated     backups – Often there is a danger of losing     your critical financial data due to probable damages to your hard drive.     However, this is not the case with cloud-based accounting software as it     utilizes frequent or real time backups. For backups the redundant data is     often stored in multiple locations. What more could be asked for as all of     this happens automatically and user is not required to spend any time on     it.

No     commitment – Most cloud-based accounting     software works on a subscription model where you have to pay month by     month. If you wish to cancel your subscription, you can do so without owing     anything further. The subscription packages carry less upfront cost than     locally installed programs, and you can also test the software before you     buy it as most of them offer free trials.

Cons:

Uptime     – If the internet connectivity is affected at either     end then it will directly impact your accounting. Although the top cloud     accounting providers promise 99.9% uptime, 100% surety of uptime is not     provided by anyone.

Functionality     – Cloud-based accounting programs are meant for     micro, small, and in some cases mid-sized businesses. Most of them cannot     provide for the accounting needs of large businesses.

Designed     for non-accountants – Accountants are used to using     the technical jargons that a non-accountant does not understand. As it is     specifically designed for non-accountants, most of the accountants find it     difficult to get used to it.

 If you would like to know the gist of this article, then the decision depends on various factors like the size of your organization and who will be using it. Still have apprehensions about whether to switch to cloud based QuickBooks or not? Then feel free to call us on our Intuit QuickBooks 24*7 Support Number 1-800-945-0645 for expert advice and guidance.

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Quickbooks is bookkeeping software in which variety of accounting processes are combined into one user-friendly system. It is also commonly known as small-business accounting software as it is particularly beneficial for small to medium sized businesses. It has many versions amongst which quickbooks pro 2017 is the latest one. It has many new and improved features that are listed below. For detailed information you may call us at 1800-945-0645.

Let us have a look at them.

1.      New Automated reports - It lets you know that your reports are accurate based on the data provided and on time that are automatically generated and emailed to you at your scheduled time.

 2.      Improved Smart search - It is a personalized auto complete feature that helps you search for names, transaction amounts and account numbers quickly.

 3.      New Reports filters – These filters are now easily viewable and can be applied across multiple reports and viewed on one screen.

4.   Bill Tracker gives you a chance to see the status of your bills, print or close purchase  orders, and more, making it less complicated than ever to manage payables.

 5.   Advanced reporting elements include a "this year to a month ago" filter.

 6.   Easily ship packages to US and other nations with coordinated delivering through UPS,  FedEx or USPS.

 7.   Find all updates and notices in one single window - overdue items, to-do errands, system notifications, and notes from bookkeepers.

 8.   Get the full picture of your business execution - see your profit and loss, pay and costs,     and top clients in a split second on the new Homepage Insights.

 9.   Add multiple attachments, customize email layouts to incorporate client or occupation info, and see earlier email conversations with effective email capacities.

 10. See all your wage creating transactions in one spot, including overdue invoices so you  can remind clients to pay up with new Income Tracker.