Yasir Haseeb

Most American business owners do realize the importance of receipts; however, you can observe most Americans saying “No” when they are offered a receipt for their purchases. Do they wish to collect these receipts and save it because they want to forecast market trends? Not really, they want to avoid tax return perils, therefore they keep them collected in one place. Receipts are audit protection and for some, it is a serious concern. Paul made a number of purchases during the last year and forgot to collect receipts from multiple stores. He went around the world expelling thousands of dollars on travelling, food, entertainment, cellular services and other expenses. What he failed to realize is that he will have to face tax files, paperwork and documentations to financial sectors that they were business related. Sadly, Paul is one of the many individuals who failed to realize the importance of keeping receipts in one place. Now, he is left with questions to ponder and answers to p...

When it comes to startups, accountants are generally shunned away. Startup owners usually think of taking up accountants as an additional expenditure which they would rather incur when they are big enough and would have a greater requirement to use their services. Traditional accountants and modern online accountants differ extensively, especially when it comes to cost savings. What many small business owners fail to sometimes see is that, an online accounting firm can actually reduce expenses and also help them in terms of tax preparation and managing the business’s revenue flows. Here are five reasons why your startup needs an online accountant today: Cost Effective Spending less making more, is the objective of every business. Just like any other consultant; accountants are not very light on a startup’s budget. They have their hourly rates, desk space cost, and additional reoccurring monthly expenses that you and your business are probably just not ready to handle at this st...

So what makes a law firm financial operations any different than any other firms on the market? The answer is simple, Bookkeeping! When it comes to tax cutting and paying bills, it helps you handle cases profoundly making stressful situations extremely easy every day. No lawyer in today’s world should be juggling around with million dollars without keeping track of how to manage his/her finances accordingly. Challenges can pile up! You can end up with problems such as catching up with priorities and paying up your due taxes and bills on time. At Monily, we look forward to help lawyers who want a counter-productive and cost effective solution for their respective businesses. Most lawyers are focused on a single task at a time, just like they are tackling a case in a court… They take a similar approach to manage financials accordingly. To get out of the cycle of failing consistently, they take a different approach. An approach to set up systems that can automatically optimize the...

In order to understand the best situation for when to use agile as a software development project’s process, it is best to first understand this method and evaluates its pros and cons. And then understanding its effect on the entire software’s development and its process. This article is dedicated at understanding this concept and also looking into factors that make it a good or bad project development process. Agile Development Process: Agile as the name suggests is executing things on the go. Which is generally a more haphazard method of working. The Agile approach focuses on producing minimum viable products, it largely depends on the collaboration of multiple departments working simultaneously through constant feedback which results in faster adaptability into changing requirements. Some of its major components are as follows. Specific tasks for specific resources: As this development method focuses on thinking on the go, the resources used are executed more effectively, ...

When it comes to startups, accountants are generally shunned away. Startup owners usually think of taking up accountants as an additional expenditure which they would rather incur when they are big enough and would have a greater requirement to use their services. Traditional accountants and modern online accountants differ extensively, especially when it comes to cost savings. What many small business owners fail to sometimes see is that, an online accounting firm can actually reduce expenses and also help them in terms of tax preparation and managing the business’s revenue flows. Here are five reasons why your startup needs an online accountant today: Cost Effective Spending less making more, is the objective of every business. Just like any other consultant; accountants are not very light on a startup’s budget. They have their hourly rates, desk space cost, and additional reoccurring monthly expenses that you and your business are probably just not ready to handle at this st...

It has been 31 years that the taxation rules have remained unhinged, with the arrival of a new president and a Republican majority in the senate, a tax overhaul has just been voted into approval and will soon be signed into law by President Trump. Since the last quarter of the year there has been a general frenzy with regards to who will be affected and till what extent, with the new tax laws. There are some major changes intended to be taken into action very soon, in this article we’ll understand the new tax brackets that are being introduced, and how they affect each group. Instead of the seven tax brackets that were from, 10% to 39.5%. The new bill reduces the number to four brackets, this is how the comparison looks like:  Single Fillers Current Tax Brackets Yearly Income New Tax Brackets Yearly Income 0% – 0% Up to $12,000 10% $0 to $9,325 – – 12% – 12% $12,000 to $45,000 15% $9,325 to $37,950 – – 25% $37,950 to $91,900 25% Beginning at $45,000 28% $91,900 to $1...

The industrial era was the biggest achievement of the world, financially. That was until the rise of the internet and a new era of technological advancements rocked the world and changed its dynamic entirely as we knew them to be. Soon after, the smartphone was created which brought about another revolution with it. The internet of things (IoT) came to existence, this brought up a financial revolution that hadn’t even been seen as so during the industrial revolution. Hundreds and thousands of millionaires and tens of billionaires sprung up around the world. Take the most out of the digital revolution. Even though it seems very difficult to remember a time with the smart phone, we are merely at the beginning of what is to come and how far humans are to reach with technology. This makes the time we are in the most profitable for any business that relates with mobiles and their functions. Building a mobile application  is probably the best and minimal capital draining route when...

Nothing in this world comes without any problems or hurdles, like the saying goes, to get some you’ve got to give some. Businesses, in particular startups, face a great deal of challenges that’s why only those that succumb through the hardships actually grow out of the startup phase and grow to become fully functioning businesses. Entrepreneurs often face the grueling realities of managing a business, from the moment that they initiate the business idea, the road to success is full of thorns. Here are some common challenges faced by startups and how entrepreneurs tackle such affairs. Financing A major problem faced by all businesses and startups alike are financial matters. Money brings money and small businesses for one need a lot of it. It all starts with seed capital, to get your business started. Getting the ball rolling, is one of the most difficult tasks a small business owner is entrusted to do. Most entrepreneurs rely on angle investors, though these investors only pref...