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Accounting business tax

No matter what stage you’re at with your business, whether you’re an ambitious entrepreneur with grand plans for a startup or an old hand, it’s essential to understand the relationship between business and finance. If you can’t generate profits year in, year out, you’re not going to make it to the top, and there’s every chance that your venture will fail. You may not have aspirations to make it onto the rich lists, but every business owner wants to reap the financial rewards of their hard work. If you’re keen to make your financial affairs less taxing, this guide should prove useful.

Be proactive from the outset

One of the most common problems business owners experience, especially in the early days, is finding that they’re behind with the accounts. When you’re trying to juggle multiple jobs and responsibilities, it can be difficult to stay ahead of the game, but don’t procrastinate and drop behind. If your books aren’t up to date, you won’t have an accurate picture of what’s going on in those all-important accounts, and this could increase the risk of cash flow problems. Make sure you’re on the ball from the outset and be proactive when it comes to accounting. Lay out a clear, organized strategy and if you employ others, make sure they are fully aware of the processes in place to make and take payments. Accounting isn’t everyone’s idea of fun, but the longer you leave looking at the books, the more work you’ll have to do and the higher the risk of financial issues.

Make use of tools and software

These days, accounting isn’t all about sitting down surrounded by reams of paper and using a calculator to draw up budgets, track payments and get an accurate idea of expenditure, overheads, and profits. Today, business owners have access to a host of tools and software programs that make it much easier and faster to manage their finances. If you don’t already use online programs, read some reviews, and look for solutions and options that suit your business.

Seek expert help

There are certain tasks that you’ll be able to manage without expertise in accounting and a qualification in business law, but it’s worth enlisting the help of experts when it comes to more complex issues like dealing with tax matters. If you’re new to the world of business, you may need advice about completing your return. If you’ve already done your taxes, you may find yourself in a situation when there are question marks over your return. If this is the case, it’s a good idea to contact a law firm, find out more about attorney prices, and make sure you understand the situation and how to move in the right direction. It’s better to resolve any issues quickly than to let them fester.

Get a deeper insight into your cash flow

It’s common for new businesses to encounter cash flow issues and this is often due to the fact that there are seasonal differences to contend with. If you run a business that tends to perform better at specific times of the year, make sure you organize your finances in a way that enables you to stay afloat throughout the year. When you’re taking in more money, set a sum aside to give you a cushion in the months when trade is slow.

Be aware of deadlines and legal stipulations

As a business owner, you should be aware of deadlines and legal stipulations that affect your finances and the way you run your business. If you understand the ins and outs of claiming expenses, you’re operating legally, and you know exactly when you need to submit your accounts, renew policies or send in a tax return, this will save you a lot of money, time and hassle further down the line. If you don’t understand financial regulations, this can have disastrous consequences.

Plan for the future

When you’re managing a company, there are few things more important than planning for the future. When it comes to money matters, you need to make sure that you can cover wages and bills now, but you also need to try and do everything possible to future-proof your finances. Keep an eye on your cash flow, look for ways of maximizing your profits, and plan a growth strategy in detail. Every entrepreneur wants to get to a stage when they can expand the business and try and take it to that next level, but getting your timing right is essential. If you move too soon, you may fall short in the funding stakes, but if you wait too long, you may find that a golden opportunity has passed you by.

Get to grips with pricing

If you have a complex or confused pricing strategy, this can make it more difficult to manage your finances, so try and ensure you have clear plans in place. It’s also essential to make sure that everyone is on the same page. If you have some employees charging different fees to others, this is going to upset the apple cart. Make plans, set objectives, and stick to them. If the strategy isn’t working, adapt it, and relay this information to colleagues and clients.

If you own a business, you’ll know all too well that your success will be measured mainly on figures. If you can turn over a profit every year, this is going to set you up a bright future. To achieve success in business, it always pays to be mindful of money and to ensure that you run a tight ship when it comes to your finances. If you’re in charge of accounting, it’s wise to look at modern software programs that make the task a lot less daunting. It also pays to seek expert advice, especially if you run into problems. Be proactive from day one, adopt a plan and be clear about your pricing strategy. If you any questions or concerns about your accounts, always ask an expert before you proceed. It’s better to be safe than sorry.

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Student @ Advanced Digital Sciences Center, Singapore. Travelled to 30+ countries, passion for basketball.

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What to Do if You Are Involved in a Truck Accident While Traveling

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Any vehicle accident can potentially cause a lot of damage, not only to the vehicle itself but also to the passengers.  One of the most fatal type of accident on the roads is an accident involving a truck.  No matter where you are traveling to, or from, it is important to know the steps to take should you be involved in a truck accident.  We are going to look at those steps in this article.

Step 1: Say Nothing That Admits Fault

After an accident, you may be required to speak to the police and Highway Patrol.  While it is important to be truthful and answer any questions they have, you don’t want to elaborate or provide too much information.  If you have any questions about the other party, you should limit yourself and just ask if they are hurt.  No matter what you do, don’t apologize, don’t speak to the other driver, and don’t say anything like “I didn’t see you”.  All of these things can come across as an admission that you are at fault.  It is unlikely that fault can be determined at the accident scene, and you don’t want to risk jeopardizing your case by saying something you shouldn’t.

Step 2: See a Doctor

It’s wise to see your doctor immediately after an accident, even if you feel fine.  Many people do feel okay after an accident, but they still have injuries that need checking out.  Not only will this help to ensure your personal safety, but you will also have any injuries you sustained on record, should your truck accident lawyer need them when building your case.

Step 3: Notify Your Insurance Company

Your insurance policy should detail the steps you need to take to report a claim.  You might also want to review your policy to see what kind of coverage you have, and how long you can expect to wait to receive a payout.  Your insurance company may need extra information regarding the accident so be prepared for this.

Step 4: Contact an Attorney

Delay and procrastination can lead to a lost claim, so as soon as you have seen a doctor and notified your insurance company you’ll want to contact a truck accident attorney.  Every state has different limitations regarding the statute of limitations for personal injury claims, so it’s wise to do this as soon as possible.  If you were traveling out of state when the accident happened, you may need to speak to an attorney based in the state where the accident took place.

Your attorney will be able to look at the evidence you provided, as well as your medical records, and let you know whether you have the basis for a claim.  The first meeting is usually free, too, so it’s always worth finding out if you could claim compensation.  Whatever you do, don’t bow over to the trucking company’s lawyers, especially if you couldn’t have done anything to prevent the accident.

Have you ever been injured in a truck accident that wasn’t your fault?  Let us know what happened in the comments.

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GESAB, innovation and design with 25 years of experience

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GESAB is a company with the guarantee of the future based on its basic pillars: ergonomics, innovation, design and technology on which GESAB develops all its projects for centers and control rooms.

GESAB, has more than 25 years of experience offering solutions for control centers. An experience identified by always being at the forefront of innovation and design, whose mission will be to offer all its customers solutions with the highest quality and functionality.

GESAB has a large team of architects, engineers and designers, which makes it easy to cover the project in a global way and offer a multitude of solutions. It is worth highlighting its integral projects developed in a unique and exclusive way to satisfy all the needs of the client, surprising them in every detail. In addition, the GESAB team develops lighting, design, interior design and ergonomics studies to look for a better performance in the work starting from the humanization of the means to produce it, that is, to give the control rooms the maximum functionality and character of their own.

The control centers developed by GESAB provide the integration of the most advanced technology. All its designs and consoles are unique and personalized, created for each client, working from comfort to project execution to ensure maximum quality. GESAB guarantees compliance with its basic principles of design and ergonomics within the control centers. Its design is the beginning of the renovation and technological update; its layout of room, visualizes the best workstations; its indicators and controls, facilitate the interaction with the design of the hardware and software of the control panel; its evaluation will review the components so that they are to the maximum performance and its environmental requirements improve the luminous, acoustic environment…

GESABs technical furniture complies with the highest standards in ergonomics and safety at work. Fantastic design and quality are present in all GESAB control consoles, to ensure maximum functionality and performance in this type of crucial environments.

These workspaces available 24 hours a day, 7 days a week place GESAB consoles on an operators main axis. GESABs work is carried out in conjunction with the customer, allowing the development of fully customized and adapted control rooms. From technical furniture, through ergonomic chairs, audiovisual equipment, design, technical flooring, ambient lighting or acoustic panels. GESAB is able to face small and big challenges all over the world, looking for complete and innovative solutions that are not only limited to operator control consoles, but also include ergonomic solutions and the most advanced technology.

In addition, all GESAB components are based on a safety principle in their products. These include the personalized control panels that include the switchboards and synoptic panels, all for the most sophisticated and technical environments, where precision is key, taking a further step towards innovation. GESAB has already had many success stories, and are related to all sectors, whether energy companies, civil protection, security, systems management, finance, telecommunications, traffic control or airport due to the advantages it offers for companies such as increased productivity and energy efficiency.

GESAB has developed the new generation with a revolutionary solution that puts the operator at the heart of the action through the management, administration, control of equipment and information sources bringing visual ergonomics to a new dimension.

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The Sweet Caroline of Dogers Owner

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Guggenheim

Mark Walter  is a billionaire and CEO at Guggenheim Partners LLC.  Is he driving Guggenheim towards the beginning of the end?  Are the owners of the L.A. Dodgers being dodged???

Guggenheim has established its name and a tradition of innovation in the past decade.  It has emerged as a new player in the financial markets focusing on mergers and acquisitions, insurance and wealth management and has over $300 billion in money management.

Guggenheim has become known as the “New Goldman Sachs”.  It has become a renowned recruiter of the best talent in the industry (including Bear Stearns CEO Alan Swartz). Guggenheim continually makes the cover page in most financial papers, including The Financial Times and The Wall Street Journal.  Lately, Guggenheim has been appearing in the press for all of the wrong reasons or for the LA Dodgers making it to the World Series.

But the tide is beginning to turn on Walter and Guggenheim.  The news now regularly includes information on CEO Walter and his relationship with Alexandra Court (a South African citizen, former corporate lawyer at Clifford Chance and who also did stints with UBS and Credit Suisse)

Ms. Court’s hiring and promotion has seemingly created power struggles within Guggenheim and in-fighting with its brilliant Chief Investment Officer Scott Minerd.

The current situation seems to be nothing new for Walter.  He has previously clashed with founding partners including Morley, Curcio and Boehly – all of these individuals left Guggenheim with extremely generous (nine-digit) severance packages.  More telling is that only six managing partners remain.  New information is coming to light every day.  It is no wonder that Ms. Court is trying to negotiate her departure and is reportedly asking for $100 million severance and a mansion.

Walter has his allies – ABS Capital Company (an offshore company and owner of Walter’s Malibu estate); a number of Latin American sophisticated agents; and another blond female “Caroline” working now at Guggenheim.  Do these allies recognize that their reputations and jobs are on the line with the investigation and questioning of the origins of the dollars through the sophisticated insurance structures.

The latest theory is that Walter will walk out.  Looks like it could be a larger blow than we actually think.  Do not blink or you will miss something.

Samuel Magic

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