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Starting A Small Business Next Year? 3 Accounting Basics You Need To Know
If you plan on starting a small business next year, you need to know the basics of accounting for small businesses. When you start a small business, you want to make sure that you get started on a strong financial footing. #1 Set Up A Bank Account for Your Business The first thing you need to do is set up a bank account for your own business. Although you can use your personal bank account for your business expenses, that would be a mistake.
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Who Claims The Personal Exemption For A Working College-Age Dependent?
At age 19, children generally become ineligible to be claimed as a dependent on the tax return of a parent. An exception to the general rule applies to full-time college students. Parents with a child in college may be able to claim the child as a dependent if the child is under age 24 at the end of the tax year. Even if a working student files a separate tax return, there is still only one sole personal exemption for the child that can be claimed on one of the two returns.
About Me
When it comes down to it, most of us could manage our money a little bit better. I found myself in this boat a few years ago, when I realized that I was almost broke because of my poor spending habits. I was tired of being constantly out of money, and it felt like I was drowning in debt. I knew that I wanted something to change, so I started focusing on making the most out of my money. I spent a lot of time completely overhauling my budget, and it really made a great difference in my personal life. I realized that I had a lot more money, and that I wasn't as stressed about finances all of the time. Check out my blog!
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