Salary Budgets for 2024 Increase at Historic Rates!

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The recent data published in the Journal of Accountancy reveals a noteworthy trend: employee salary budgets have seen a substantial rise in 2023, marking a 4.4% increase. This surge represents the most significant growth in over two decades, potentially signaling important considerations for business owners planning their 2024 budgets. For entrepreneurs and business owners, understanding…

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Salary Budgets for 2024 Increase at Historic Rates!

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The budgets for employee salary increases have grown by an average of 4.4% in 2023, the highest increase in more than two decades. Tune in to this episode to learn how this increase could impact your business. Links: Watch on YouTube: https://youtu.be/vhGrPv_UEpA US Salary Increase Budgets Survey: https://www.conference-board.org/pdfdownload.cfm?masterProductID=49173

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General Ledger and Trial Balance: What’s the Difference?

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In this episode, we are discussing the essential elements of the general ledger and the trial balance. From the comprehensive record-keeping in the general ledger to the crucial role of the trial balance in ensuring accuracy and balance in financial statements, we explore how these concepts are pivotal in maintaining financial health for businesses. YouTube:…

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Understanding Contra Accounts

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Contra accounts are an essential concept in accounting, primarily used to record and represent the true financial state of a business. In this episode, we will cover what contra accounts are, how to use them, and discuss some common examples. YouTube: https://youtu.be/_tlYMmTuGkk

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How to Choose: S-Corp, C-Corp, or LLC

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Are you about to start your own business and trying to figure out which type of business structure is best for it? It’s essential to understand the basic principles of each business structure to help you make the right choice. Both Corporations and Limited Liability Companies (LLCs) provide a shield of limited liability. This separation…

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