What are accounts payable?
Accounts payable represents the money a business owes to suppliers for goods and services received.
How can an accountant help in securing business funding?
They prepare financial statements, business plans, and projections that banks and investors require for funding approval.
How does a business qualify for an R&D tax credit?
Businesses investing in research and innovation may qualify for R&D tax credits by proving expenses relate to developing new products, software, or processes.
What happens if I miss a tax filing deadline?
You may face penalties, interest charges, or audits; file as soon as possible to minimize consequences.
How do outsourced accountants handle financial fraud prevention?
They implement internal controls, audits, and fraud detection strategies.
Do I have to pay taxes on inheritance?
In most cases, inheritances are not taxed, but estate taxes may apply for large amounts.
Can accounting software help with cash flow management?
Yes, it provides cash flow forecasts and real-time tracking.
What is depreciation?
The allocation of an asset’s cost over its useful life.