Becoming a CPA is a career move that will definitely have a lot of benefits to an individual’s life. As a CPA, you will have the opportunity to work with a myriad of large, multi-national and high profit companies. In working with these big corporations, not only will you be able to work in a fast-paced and highly exciting field; you will also be able to earn a substantial amount of income as well.
There are certainly a lot of people who want to become a CPA, but the problem is that it is not very easy to do so. Not only is there a lot of time required in order for you to become one; it can also be quite difficult, especially the CPA exam. In fact, only a very small percentage of individuals who take the CPA exam get to pass, and that a number of current CPAs have needed to take the test multiple times before they were able to pass.
If you are planning to become a CPA then you probably have heard from others or read on online discussions and forums that you will want to put extra focus and effort onto your CPA review to drastically increase your chances of passing the test. If you are having problems or a lot of confusion with regards to your current CPA review program or if you are having trouble looking for a program that will fit your needs and preferences then the CPA review solution that thecpaguide.com offers is something that you will surely find to be very helpful.
The website is dedicated to CPA hopefuls who are having uncertainties when it comes to the review phase of their trying to become a CPA.
One of the best reasons for you to go to the website is that it offers reviews of the most popular CPA review programs available today. There are actually a lot of programs that promise to offer the best review services but the problem is that this is not always the case, so you will need to spend extra effort and weigh the pros and cons of each review program before signing up. This difficulty will be reduced with the cpaguide.com as it offers clear and in-depth overviews of the CPA reviews sites that you can sign up with today and should be very helpful in you making the best choice.
Aside from the reviews on the CPA programs that you can get, what’s great about the website is that it offers tips and suggestions that you will surely find to be helpful on your CPA exam. Since the website is run by a CPA who also had to take the exam a number of times before passing; the tips and suggestions that you will get to read up on and learn on thecpaguide.com are pieces of information that you will surely appreciate that you have learned when exam day comes. The website also offers promo and discount codes on some of the most popular review programs on the market today so you will be able to save some money with the website as well.
Small businesses have learned to survive in today’s challenging world by hiring freelance or independent contractors to do specific jobs that the business can’t do. Instead of hiring a full time employee, they just outsource the job to help them save more. There are now a lot of workers who are considered to be independent contractors and sometimes they are misclassified. This misclassification can lead to unwanted consequences for your business so you should know how to classify them properly.
What Is An Employee
The government says that an employee is someone that the business or company can have control over his or her behavior at work. The company will determine how he should perform the task assigned as well as the place and time of work is. The business or company is also able to control how the employee gets paid or if any expense he makes gets reimbursed or not. Lastly the employer is also able to have a working relationship with the employee even after a particular job is done. Sometimes, employers get confused because the contractor fits the guidelines and the contractor can even work for 40 hours in a week for that company even if they are just an independent contractor.
Independent Contractors VS Employees
Independent contractors are the ones who make use of their own tools or materials to do the work. They only have a temporary work and are paid with a flat fee. They are also not eligible for unemployment benefits or other worker’s compensation. On the other hand employees are the ones that are paid regularly for guaranteed work and they receive benefits from their employers such as vacation pay, insurance plans, and many others. They can also be provided with training and they work in a defined workplace.
The government thinks that there are many misclassified as a independent contractor rather than an employee because of the taxes and benefits. There are also others who don’t misclassify their employees intentionally but the financial and legal consequences are still the same. Even if you opt for a payroll service solution to help you out with the computations for the tax, benefits, and other things that affects their paycheck, you as the business owner still have the responsibility of classifying your employees so that they get the right paycheck at the end of the month. Your business could be charged for reimbursement of unpaid wages, employee benefits or insurance, back taxes, income taxes and many others. In addition to this, you can also be penalised too.
For those who still can’t determine if they have a contractor or an employee, you should ask for help. The agency in charge of the taxes can help you classify your employees so that you can prevent future expenses or penalties from going your way. It is not enough for you to assume the classification of a certain worker because a wrong one would lead you into consequences that can affect your business. There is also no excuse for the misclassifications because they will still give you penalties and fines even if you didn’t misclassify your workers intentionally.
Having a business might be great and all but there are a lot of things that you have to take into consideration first before you would have one that’s successful. To start a business or a company of your own, you have to have a spot where you could do operations and then have some people working for you first. That’s because you would only be able to cater to a lot of people when you’ve got a facility where you could produce items and literally serve people. Also, you’ve got to make sure that the business that you’d put up would be legal as well. Once you’ve covered these things, you would then be able to really do business.
Having money is important so you’ve got to have some for capital. When you do not have capital yet have the will to do business, you could borrow some money from a bank or a lending institution. However, in having a loan, you should have the capacity and the mindset to pay up eventually or else you’d be in deep trouble. Of course, when you have the money in your hands to start your own company, you should be wise when you spend.
Having a place for business can be great and all but you’ve got to make sure that the space that you’d choose is accessible and conducive for work. You should search for a location where the environment and climate condition is good and you should also select a commercial space where you would be able to literally attract customers eventually as well.
If you’ve got the money for it, you should purchase commercial estate instead of renting a business space so that you would not have to deal with rental fees later on and so you would have the privilege of being able to do whatever it is that you want to do to your workplace.
Once you’ve already got a place of your own, you should then invest in the tools that you need to become productive. That’s because you need to provide the people who would be working for you with equipment for production and service.
Depending on the type of business that you’re going run later on, it’s important that you get supplies that would let you take on and finish tasks efficiently and effectively and not merely those that are of average quality. After you’ve bought tools like machines, you should then find some people who’d be willing to work for you.
You could first try to look for a human resource manager so that you would be able to recruit people, manage them and make sure that they are provided for with your resources. To look for an HR manager, you could try to post ads where you could and then make sure that you only accept those that know how to deal with recruitment, employee engagement plus compensation and benefits. When you do employ one, however, it’s best that you should get the help of someone who knows about cash balance plan administration details.