- Understand the basics of accounting and its terminology. Consider taking an accounting basics course.
- Beware of mixing personal and business transactions. Keeping separate records for each is important for both IRS and credit history reasons.
- Realize that no one can be an expert at everything. Hire an accountant to keep your finances straight and to stay in compliance with the IRS.
Accounting tips Featured
SBN Staff 7:34am EDT December 31, 2001
Here are tips to keep you out of trouble.