The Bookkeeping Advisory Team LLC

As a small business owner, saving tax dollars isn't just about reducing your immediate tax bill—it’s about maximizing profitability and...

When should your small business engage a bookkeeper?

Bookkeeping is a crucial part of managing any business’s finances, offering business owners the ability to monitor their financial...

Separating business and personal expenses is a fundamental bookkeeping practice that can greatly benefit your business success.

Course fees for learning a new trade aren't tax-deductible as they're considered personal investments, not business expenses. Budget wisely!

How to read a Cash Flow Statement and Understanding Its Insights

Learning how to read and analyze Balance Sheet will enable you to make informed financial decisions.

What Profit and Loss Statement tells you about your business.

The Chart of Accounts serves as a structured framework for organizing financial transactions and facilitating accurate recording.

Effective bookkeeping is fundamental for the financial health and success of all businesses. In this blog, we'll discuss eight essential...

Bookkeeping is the heartbeat of any successful business. It provides a clear snapshot of financial health, enabling informed...

A cash flow statement is a financial statement that provides information about the cash inflows and outflows of a business over a...

In the fast-paced world of business, efficient bookkeeping plays a critical role in the success of a venture. However, managing the...

I often encounter clients who are passionate about their hobbies and are exploring ways to turn their interests into profitable ventures....

In today’s blog, we will cover the advantages and disadvantages of budgeting. Advantages of Budgeting: 1. Financial Discipline –...

In this blog, we will discuss how budgeting can help in the management of your business finances. Here are three major uses of budgeting:...

In the world of business, finances are the lifeblood that keeps everything running smoothly. Every decision, every investment that we...

Starting a business can be an exciting adventure, but it often comes with significant initial expenses. The good news is that many of...

An Accountable Plan is another way of ensuring that all business expenses, incurred by yourself or your staff members, are deducted from...

Expenses that are deductible on your tax returns have to be ordinary and necessary. An ordinary expense is one that is common or...