Built on a solid foundation of excelle nt client service and in-depth market knowled ge, Berg Faircloth strives to develop a relationsh ip with each client to foster a great er understanding of your needs and objectiv es while maintaining the ethical standards
Berg Faircloth is built on a sol id foundation of excellent client service a nd in-depth market knowledge. We strive to devel op a working relationship with each clie nt to foster a greater understanding of yo ur needs and objectives while maintaining t he ethical standards of our profession. We provi de tax and accounting services for individu al and business clients.
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The assistance of a bookkeeper is invaluab le to your business. Let us he lp you manage your books so y ou can focus on managing your busine ss!
We do the books while y ou do the business.
A mutual fund is a ty pe of financial tool made up fr om a pool of money collected by ma ny investors to invest in securities su ch as stocks, bonds, money market instrumen ts, and other assets. They are operat ed by professional money managers, who wo rk to produce capital gains for t he fund’s investors by allocating the fund ’s assets.
The stock market investment process is be st described as a journey. One of t he most important steps in this journ ey is to keep investing money in t he market.
The Top Signs You Should Hi re a Bookkeeper https://financialhotspot.com/2021/10/06/the-top-signs-you-should-hire-a-bookkeeper/
The Top Signs You Should Hi re a Bookkeeper | www.financialhotspot.com When you first launch a busine ss, hiring a bookkeeper might seem li ke an unnecessary expense. You may fe el confident in your bookkeeping skills a nd opt to do it yourself. B ut as your business grows and y ou hire a few extra employees, spendi ng more time doing the books c an easily overwhelm you and di...
Traditional and Roth IRA contribution limi ts for the 2021 and 2022 t ax years are the same, but the re are restrictions that can affect h ow much you may be able to contribu te and deduct on your tax retu rn. Schedule an appointment with us to discu ss your investment options today! https://www.investopedia.com/retirement/ira-contribution-limits/
Roth and Traditional IRA Contribution Limi ts for 2021 and 2022 The limits for contributions and inco me thresholds for individual retirement accounts a re out for 2021 and 2022.
With the addition of virtual curren cy to the global market in rece nt years, there are a lot of questio ns on how they are treated as proper ty of federal income tax purposes. Fortunate ly, the IRS provides a list of frequent ly asked questions for taxpayers who ho ld virtual currency – check it o ut below and contact us for yo ur individual cryptocurrency needs: https://www.irs.gov/individuals/international-taxpayers/frequently-asked-questions-on-virtual-currency-transactions
Frequently Asked Questions on Virtual Curren cy Transactions | Internal Revenue Service Frequently asked questions and answers abo ut Virtual Currency transactions.
A solid retirement plan can addre ss many of the concerns associated wi th long-term security. Here are some highligh ts of things to know about savi ng for retirement and the importance of starti ng early. https://www.investopedia.com/3-things-to-know-about-saving-for-retirement-and-why-it-s-never-too-early-to-start-5223838
3 Things to Know About Savi ng for Retirement—and Why It’s Never T oo Early to Start A comfortable retirement is a b ig priority for Americans and one that ’s becoming even more important with li fe expectancy on the rise.
Is a gift letter useful wh en you buy a home? How do y ou use one? Find out here! https://www.investopedia.com/how-to-use-gift-letter-5220664
What Is a Gift Letter a nd How Do You Use It? A gift letter is a pie ce of legal, written correspondence explicitly stati ng that money received isn't expected to be repa id.
What are the Most Important Elemen ts of a Solid Business Plan
What Are the Most Important Elemen ts of a Solid Business Plan? | www.financialhotspot.com Planning is essential before you sta rt any business. It gives you a bluepri nt for where the company should be in t he coming years and the strategy to rea ch that level. What's incredible about planni ng is that it will also illumina te all the potential issues you a re bound to encounter. While several....
If you are planning to b uy a home, the first step is to figu re out how to save for a downpayme nt. Most lenders will require as mu ch money you can put down. So h ow do you even begin? These ti ps can help. https://www.fool.com/the-ascent/mortgages/how-save-down-payment-house/
How to Save for a Do wn Payment on a House If you're looking to buy a hou se but don't quite have the do wn payment you'd like to yet, here 's how to save for a do wn payment.
While managing living expenses can be compl ex and time consuming, getting a hand le on your finances is a critic al step towards a more stable futu re. https://www.fool.com/the-ascent/personal-finance/articles/4-ways-to-simplify-your-personal-finances-in-2022/
4 Ways to Simplify Your Person al Finances in 2022 Being more organized could help y ou avoid financial stress. Here are fo ur key moves worth making in 2022.
Are you considering installing a sol ar system in your home? Here's a homeowner 's guide to the federal tax cred it for solar photovoltaics. https://www.energy.gov/eere/solar/homeowners-guide-federal-tax-credit-solar-photovoltaics
Homeowner’s Guide to the Federal T ax Credit for Solar Photovoltaics This guide provides an overview of t he federal investment tax credit for tho se interested in residential solar photovoltaics, or PV.
Busy professionals can benefit greatly fr om voice-to-text apps. You can use the se programs to increase efficiency and sto re your recordings securely via the clo ud, especially if you are always on t he go or think faster than y ou can write. https://www.thebalancesmb.com/best-voice-to-text-apps-4583053
The 8 Best Voice-to-Text Apps of 2022 We reviewed and compared prices a nd accuracy rates from the best voice-to-te xt apps. This list will help y ou find a voice-to-text app to f it your needs.
4 Ways to Minimize Your Taxes
4 Ways to Minimize Your Tax es | www.financialhotspot.com Taxes are inevitable! Like most taxpaye rs, you are probably wondering how y ou can minimize the amount you o we. Your income is taxed at t he local, state, and federal levels, n ot forgetting additional deductions to cover Medica re and Social Security. While tax situatio ns differ for every individual, t...
When you claim business meals as a busine ss expense, you need to have wh at the IRS calls "sufficient evidence." Th at means a receipt from the pla ce where the meal occurred. It shou ld include:
PayPal receipts must be accompanied by leg it invoices for the IRS to acce pt them as business expenses.
To help you speed up yo ur bookkeeping, think about keeping your busine ss and personal finances separate. So, y ou won’t need to look through person al information for business related finances a nd vice versa.
Try storing your receipts digitally. Th at way, everything is in one pla ce and if there’s ever an investigati on, all of the information related to expens es will be available within your softwa re or app via attachments.
5 Facts You Should Know Abo ut Compound Interest https://financialhotspot.com/2021/09/15/5-facts-you-should-know-about-compound-interest/
5 Facts You Should Know Abo ut Compound Interest | www.financialhotspot.com If an investment or loan accru es compound interest, its interest is calculat ed using the sum of its initi al principal plus any previously accumulated intere st. You can think of this conce pt t as "interest on interest" th at will make your money grow fast er than simple interest. Suppose you deposited. ...
Cluttered records with endless bits of pap er will make it a nightmare to do t he books with valuable information all ov er the place. Keep them organized so y ou know exactly what to look f or without wasting time.
Keep dates and deadlines in mi nd while creating reminders so you’re n ot doing the books the night befo re. Contact us today so that we c an help get your bookkeeping done is a time ly manner.
Standard deviation is one of t he most commonly used metrics to proje ct potential returns or losses from an investme nt. Understanding how to read graphs is importa nt if you're starting to invest: https://bit.ly/37P8gzZ
Standard Deviation Explained - NerdWallet Standard deviation is a measure of volatili ty. When applied to investments, it c an help investors determine a stock's riskine ss.
Unsure what the terms bullish or beari sh means in regards to investing? F or a better understanding of investment ter ms in the article below: https://bit.ly/3FWYuZ5
Bullish vs. Bearish Definition - NerdWall et Bullish and bearish are often us ed to describe trends in stock marke ts. A bullish person or investor ac ts with a belief that prices wi ll rise, while bearish people act wi th a belief prices will fall.
Why Virtual Accounting is on t he Rise https://financialhotspot.com/2021/09/08/why-virtual-accounting-is-on-the-rise/
Why Virtual Accounting Is on t he Rise | www.financialhotspot.com Accounting has been an essential pa rt of every business since time immemori al. Both profit-making and non-profit organizations requi re accounts management to keep their financ es in check. In simpler terms, accounti ng tracks money that flows in a nd out of your business and monito rs its assets. An acc...
In simplest terms, equity is t he value of an asset after payi ng off any related liabilities. The ho pe is that the equity is wor th more than your outstanding debt. Th is article explains the different kinds of equi ty: https://www.nerdwallet.com/article/investing/equity?trk=hub_latest_content&trk_channel=web&trk_element=hyperlink&trk_elementPosition=5&trk_location=LatestPosts&trk_sectionCategory=hub_latest_content&trk_copy=Equity%20Explained
Equity Explained - NerdWallet Equity is the value of an ass et after paying off any related liabiliti es.
An asset is anything you o wn that has monetary value. In t he world of investing assets can transla te to stocks, bonds, cash, real esta te and commodities. Learn more about t he importance of understanding the different typ es of assets by reading the artic le below: https://www.nerdwallet.com/article/investing/asset?trk=hub_latest_content&trk_channel=web&trk_element=hyperlink&trk_elementPosition=1&trk_location=LatestPosts&trk_sectionCategory=hub_latest_content&trk_copy=Asset%20Explained
Asset Explained - NerdWallet An asset is anything you o wn that has monetary value, such as stoc ks, bonds, cash and real estate.
What Is an Acquisition?
Auditing a C Corporation
Auditing a C Corporation Auditing a C Corporation. When a privately-he ld business incorporates, the personal assets of t he business owner -- now considered a sharehold er -- are protected by corporate limit ed liability. Private companies formed as C corporatio ns can have an unlimited number of shareholde rs, making this an id...
Why You Need Small Business T ax Services
Why You Need Small Business T ax Services | www.financialhotspot.com Dealing with complex tax preparations f or your small business can be a daunti ng task. Without the right support, it c an be challenging to sift through paperwo rk, determine the right forms to fi ll out, and properly document cash fl ow. Moreover, rushing to meet filing deadlin es increases the likelihoo...
Tax Tips for Small Employers
Tax Tips for Small Employers Tax Tips for Small Employers. As a sma ll business owner, you can literally li ve and die by your taxes. T he taxes you pay on income earn ed throughout the year can eat aw ay as much as 25 percent or mo re of your profit margins. Being sma rt when it comes to filing tax es can put more money in yo ur pocket...
What Is a 401(k) Plan?
Why Is It So Important Th at Payroll Is Precise?
Why Is It So Important Th at Payroll Is Precise? Why Is It So Important Th at Payroll Is Precise?. Payroll is an integr al part of a company's operations. T he federal and state governments require employe rs to comply with wage and ho ur standards to ensure that employees a re paid accurately and on time. T he Internal Revenue Service and the sta te depa...
How Does Business Consulting Benefit You?
How Does Business Consulting Benefit Y ou? | www.financialhotspot.com Almost all businesses can benefit fr om the services of a business consulta nt. The consultant will work closely wi th you to improve the performance of yo ur business by helping to identify challeng es, advising on business strategies, and proposi ng practical and informed solutions. The ma ny advantages....
Choosing the right business structure is cruci al to the success of your business.
LLC vs. S Corporation: What's t he Difference? When comparing an LLC vs. S Co rp, you’ll want to be aware of k ey differences. Both LLCs and S Corporatio ns have pros and cons, which we cov er in our guide.
For over 60 years Berg Fairclo th & Company has enjoyed a reputati on for highly personalized accounting services f or business owners and individuals alike. We ha ve passed-down a philosophy of superior clie nt service and skill to each partn er and member of our team. It is o ur mission to help clients enjoy bett er financial health and benefit from an organiz ed tax and accounting strategy.
Our firm was founded by E li Berg, who later promoted Oscar L. Fairclo th to partner in 1963. Oscar’s s on and daughter, Ricky L. Faircloth, P FS and Angela K. Wyrick, CPA, P FS were brought on and later ma de partners themselves in 1992 and 20 01, respectively. Leadership in tax and accounti ng is a part of our fami ly history and makes our firm tru ly unique. When you visit Berg Fairclo th & Company, you can trust yo ur finances will be handled by a te am with a shared vision and passi on for problem-solving and best-quality service.
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