Real Life Real Faith Christmas Magazine (2) | Page 23

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FINANCE REVIEW
2017
performance. Let's say, for example, that you want to  best start and it seems in the beginning that it
apply for a merchant account (maybe a high-risk would be difficult for the business to survive.
one) so you can start processing credit card requests However, small changes in strategies and cuts in
for your customers. When you approach a merchant costs can prove to be greatly benefitting for
account provider, they will ask for some history of businesses. The best time to start afresh and renew
your business activities-at least 3 months. By the end all your reports and files is the end of the year. While
of the year, you have enough data to show to lenders you can change your strategies and plans midway
and credit processing services to convince them to too, it is natural for most humans to feel the need for
do business with you. a new start at the start of a new year. For example,
people can decide to lose weight at any time of the
Of course, a financial review will give you a good year, but it seems it makes most sense to them
look at whether you have done enough to impress when they do it at the start of a new year.
these service providers or not. You can apply for
these services with a quarterly credit history as well, If you think your business has not performed really
but in most cases it will not be considered sufficient. well, but you still want to give it a shot, the end of
year financial review can clear the path for you by
Best Time to Get Your Tax Files in Sync
telling you if you can afford to give it another shot or
not.
Yes, you have been extra careful about your tax filing
and preparation the whole year, but the overall
Bottom Line
integrity of your records still has a question mark on
it. It is extremely important for you to prepare your There is definitely no restriction on when you want
tax files at the end of the year and calculate your to make changes to your business plans and
liability with utmost accuracy. While tax preparation strategies. However, people find it natural and more
softwares have made the job much easier, complex motivating to set new goals, learn from past
tax files still need attention from your personal mistakes and make new moves when a new year
accountants to get everything in sync. Now, the starts. Throughout the year your main goal is to keep
important thing here is that a review does not only the ball rolling. However, it is at the end of the year
help you escape penalties that you might attract by that you have enough data collected from all your
putting wrong information on your file. You want to business operations and activities to know how
update your information at the end of the year fruitful your efforts were, which efforts you should
because you want to accurately calculate your own consider in future and the expenses have been
benefits too e.g. tax credits, exemptions, standard keeping you from progressing. In short, a financial
deductions, itemized deductions, etc. review at the end of the year helps you make new
and important decisions for your business.
Time to Start Afresh
More detailed information and useful advice can be
Your business might not have been a very successful
found at http://www.Funded.com
venture. In fact, many businesses don't make the
Article Source: http://EzineArticles.com/9834106