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Starting a Flooring Business? Consider these 10 Steps Starting a flooring business is simple. That’s what John thought. A skilled flooring contractor, John decided to start his own flooring company after gaining years of experience. When John started, he quickly realized that running a flooring business isn’t simple and requires more than just flooring skills. […]
Can You Deduct Eyeglasses on Taxes? Yes, you can deduct the cost of eyeglasses in the US and Canada if you meet certain requirements. If they itemize deductions, the IRS allows taxpayers to deduct medical expenses, including prescription eyeglasses. On the other hand, the CRA also permits taxpayers to claim prescription eyeglasses on their tax […]
Ancillary Income in Property Management Ancillary Income in Property Management refers to the revenue from services or amenities provided to tenants beyond standard rent. This increases a property’s profitability without directly increasing rent. Some of the examples of ancillary income include laundry facilities and parking fees. Here we need to mention that a common misunderstanding […]
How to Improve Seasonal Pricing Strategy as a Landscaper? It’s a beautiful November morning, and one of your clients called to manicure the lawn. But you are anxious, as winter is coming, and you have fewer lawns to mow, and you wonder how you can price services to stay green all year long. If you […]
End-of-Year Bookkeeping Checklist for Home Service Businesses The holidays are just around the corner, but instead of enjoying your well-earned rest, you may stare at business receipts, invoices, and spreadsheets from last January. Let’s face it: numbers won’t organize themselves, and you need a system to manage your home service business efficiently. We created an […]
Does Title Insurance Cover Property Line Disputes? Title insurance can cover property line disputes, but it depends on the specific policy and circumstances. Most policies protect against issues with ownership, liens, prior encumbrances, or judgements against the property. Some policies cover boundary disputes if a survey error or unknown encroachment causes the issue. However, standard […]
End-to-End Process of Accounts Payable The End-to-End Process of Accounts Payable involves the complete cycle of managing a company’s payments to suppliers. The cycle involves: The accounts payable (AP) process involves receiving and approving an invoice, securing authorization, and applying payment to a vendor’s account. While businesses may have slight variations in their approach, the […]
What’s the Best App for HVAC Business? Consider these 5 Options Mike has been running the HVAC business for over a year. One day, he sat down after finishing the job to check on things. Instantly, he was hit with the flood of admin work, invoicing, tracking, and managing other business aspects. If you are […]
Is there a way to extract data from financial statements? Yes, you can extract data from financial statements using the following methods: Managing financial data efficiently is a growing challenge for businesses, especially with the increasing volume of reports, bank statements, and balance sheets that need to be processed. Extracting key financial information from PDF […]
Journal Entry for Manufacturing Overhead Manufacturing overhead includes all indirect costs related to the production process that cannot be directly assigned to a single work order. These costs may include expenses such as factory utilities, equipment depreciation, supervisor salaries, and maintenance costs. Since these costs are not tied to a specific product or task, they […]