Sheer Distinction Services, LLC.

06/20/2023

There's a strategic way to reach your financial goals. Working with financial professionals such as us, helps you stay on track with making sure your money is working for you! Contact us at (908) 566-7578 to schedule a consultation.

06/19/2023

The double-declining balance (DDB) method is another accelerated depreciation method. After taking the reciprocal of the useful life of the asset and doubling it, this rate is applied to the depreciable base—its book value—for the remainder of the asset’s expected life. Thus, it is essentially twice as fast as the declining balance method. Contact us at (908) 566-7578 to schedule a consultation.

06/16/2023

Are you ready to take the first step towards a more secure financial future? A Roth IRA is an excellent way to start investing with after-tax dollars and reaping unique tax benefits. To lend a hand, check out this beginner's guide – packed full of helpful information about getting started on your journey of retirement savings success! With careful planning over at least five years, you can enjoy stress-free access to these exclusive rewards down the road.

Let's talk, call us at (908) 566-7578.

Opening a retirement savings account is one of the most popular retirement planning strategies. The individual retirement account (IRA) is an account in which you contribute after-tax dollars. A Roth IRA is similar to a regular IRA but with different tax advantages. Your account must be active for a...

06/06/2023

Business lines of credit are important and can come in handy if you want to make sure you have fluid cash flow as a small business owner. It does have a cap on what you are allowed to borrow, but that also depends on the type of credit involved. Continue reading this article to get the full scoop so you can be fully educated on this topic. Contact us at (908) 566-7578 to schedule a consultation.

A business line of credit allows a business to only borrow as much as it needs. Learn how a line of credit works and how they differ from business loans.

06/02/2023

Knowing how to read and analyze your balance sheet is a crucial component of effectively managing the financial standing of your business. Use this guide for an easy-to-follow roadmap on making sense of all that financial lingo!

To schedule a consultation, contact us at (908) 566-7578.

A balance sheet is a financial statement that summarizes the financial status of your business for a particular time. Simply, a balance sheet indicates your business' assets, shareholder equity, and liabilities. Every transaction you make in your business affects the balance sheet in one way or anot...

05/24/2023

Are you planning on creating a business? Then you need to write out a business plan to have it reach its potential. Here are 4 reasons to create a business plan! To schedule a consultation, contact us at (908) 566-7578.

05/23/2023

Each organization has a culture, whether it was crafted intentionally or not. A strong company culture encompasses your company’s core values and those of your employees. Ideally, the established culture will accurately represent your business’ mission and character. Approximately, 88% of employees believe that positive workplace cultures are important to the overall success of a business. This is something to keep in mind when determining what kind of company culture you want to create. To schedule a consultation, contact us at (908) 566-7578.

05/22/2023

A part of money management is more than just spending less than you earn. You should aim to save enough money to live comfortably in the long term as well as the short term. Here are four steps you can follow to help build your savings up. To schedule a consultation, contact us at (908) 566-7578.

05/17/2023

As a business owner, staying on top of your business’ books is one of its essential keys to success. To ensure that your records are accurate from the moment your company is born, follow these helpful bookkeeping tips. We are here help alleviate the pressures of accurate and up-to-date accounting off you! Give us a call today at (908) 566-7578.

05/15/2023

The term depreciation refers to an accounting method used to allocate the cost of a tangible or physical asset over its useful life. Depreciation represents how much of an asset's value has been used. It allows companies to earn revenue from the assets they own by paying for them over a certain period of time. Using the straight-line method is the most basic way to record depreciation. It reports an equal depreciation expense each year throughout the entire useful life of the asset until the entire asset is depreciated to its salvage value. Do you have questions? We have the answers! Talk to us at (908) 566-7578.

05/10/2023

Pay transparency occurs when an employer provides information about compensation. Laws requiring employers to comply with pay transparency standards are now gaining traction throughout the United States, with eight states and six local areas enacting legislation since 2020. The following states have pay transparency laws in place: California, Colorado, Connecticut, Maryland, Nevada, New York, Rhode Island, and Washington. To schedule a consultation, contact us at (908) 566-7578.

05/08/2023

A zombie debt an old debt that is no longer legally enforceable but that suddenly has new activity from a collection agency. You may feel compelled to make a payment; however any amount, even a small one, restarts the statute of limitations. This will give the collection agency more time to sue. Before making a decision about whether to pay a zombie debt, request proof of the debt in writing. To schedule a consultation, contact us at (908) 566-7578.