Yasir Haseeb

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...

When you think of the next big idea, and start working on it. Like many others you probably don’t even consider keeping a bookkeeper or utilizing an accounting software. Usually because of the costs that come with having a bookkeeper and also because you feel that the business is way too new to keep a bookkeeper, given the limited number or files, slips and receipts that you would need. Accountants just like all other consultants are an expensive ordeal to handle, the internet has made everything a lot more affordable. According to many leading researches, bookkeeping is the toughest part of the business for all small business owners. Yet they keep at it solely to save more money, and spend it on other business essentials. The costs of outsourcing a bookkeeper is much lower than keeping an in-house consultant. In order to understand the pricing system for bookkeepers it is first important to understand what they do, and what role they play in a business: Understanding Bookkeepers...

Tax season, the most dreadful time of the year for nearly all Americans, especially for small business owners. However, it could be less of a drag if you and your business are prepared for it throughout the year. Being organized is vital to achieve peace of mind and ease of filling taxes, yet even the most organized people can get stressed out because of the grueling and demanding nature of tax payment, document preparation and filing them. Unless you don’t hire an accountant or tax specialist you will have to start preparing for tax season long before it actually arrives. Within this article 5 simple steps have been discussed which if executed properly will aid you to  get ready for tax season : What to itemize and what not to When filing taxes as an individual, you get a choice between itemizing your deductions or, opting for the standard deduction. By taking this decision early on in the tax year will help you track and safe keep all documentations as well as it will hel...

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...

The dimensions of your business are of no importance when it comes to the importance of having an accountant. Whether your business comprises of just you, or you’re partnered up with a friend you still need a good bookkeeper that can improve your business processes and financial flows. Streamline your cash flows, clarify and maintain transparency in your books. A bookkeeper can help you in more ways than just simply recording your transactions (which is not a simple task either) but he/she can help you understand vital financial information that could be crucial to your business’s success. Here are some ways, how you can pick out the best bookkeeper for your small business’s bookkeeping? Why does your business need a Bookkeeper? Let’s first understand what bookkeeping is, and what it means for you and your business to have a bookkeeper. As an entrepreneur, managing your business’s day to day transactions is already a pretty time and mentally exhaustive task. Having a bookkeeper i...