Many new businesses may try to handle their finances on their own, but this can lead to costly errors and inefficiencies. That’s where outsourcing your accounting needs to a professional firm can provide numerous benefits. At Near, we understand the importance of finding trustworthy and skilled individuals to handle your finances. Clearly defined budgeting…

It mostly happens when the suppliers have strong bargaining power in the market. They are less likely to take care of customers especially the small buyers. For the bookkeeping buyer, they are going to pay immediately for the small purchase which is not impacting their cash flow. Most of the company has petty cash to…

Or, the responsibility can transfer to the buyer once he or she receives the goods if there is a FOB Destination agreement in place. The main difference between CIF and FOB is who is responsible for the products in transit. For example, if a company was shipping its goods to New York City, it would…

As such, the rate reverted to 6.3 percent for tax year 2025, but, as of this writing, a triggered reduction to 6.2 percent is all but finalized for tax year 2025. This is the result of (1) tax triggers implemented under S.B. Effective January 1, 2025, the tax rate dropped from 4.5 percent to 4.25…