Growth is both thrilling and terrifying to business owners. Upgrading existing systems to scale up business operations brings a lot of new and intimidating challenges. Combine that uncertainty with the seriousness of dealing with the financial functions of your thriving company, and you have a surefire recipe for executive anxiety.
Having to switch systems to accommodate the needs of your rapidly growing company can be scary at best and crippling at worst.
It happens to even the smartest business owners – you buy an accounting software license thinking that it will address all of your financial needs, and then regret sets in.
You have this overwhelming feeling of dread that you made the wrong decision. The system you are using seems far too complicated for your relatively simple needs, and you’re left wondering how you can undo this colossal mistake.
Even with advanced software, the process of managing a business’s financial accounts and affairs--is just as important today as it was when bookkeepers originated. However, because bookkeepers make a living by documenting the financial records of not just one business, but many in a community or city, it is very possible that your business’s bookkeeper also works with your competition.
The mileage reimbursement rate is intended to cover the costs of operating a car for business purposes. Costs that the standard mileage rate are expected to cover include standard maintenance, repairs, taxes, gas, insurance, and registration fees.
If you didn't catch the change for 2017, the IRS standard mileage rate was reduced from the previous year.
On Jan. 1, 2017, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) is: 53.5 cents per mile for business miles driven, down from 54 cents per mile in 2016.