20 Sensational Accounting Infographics

Many people make the mistake of thinking that accounting is boring. However, when you stop and think about what numbers tell us, suddenly accounting becomes quite interesting. Numbers can tell a story, whether it tells you about the success of a business, or whether it tells you where your tax dollars are being spent. Infographics can take these numbers and present them in a way that is understandable and interesting.

No matter the financial information you are viewing, an infographic can be a great way to understand it. And there are plenty of accounting infographics out there. Here are 20 extremely interesting and informative infographics related to accounting:

Government Spending

Perhaps one of the areas of most interest to most people is that of government spending. Where all the tax dollars end up is a very interesting subject. These infographics can provide you with insight into government spending.

  1. How $3.7 Trillion is Spent: The New York Times offers an interactive infographic for the 2012 budget proposal from President Barack Obama. It includes a look at different program cuts, and details “mandatory” spending. It’s an interesting look at where some of the money goes once the government gets its hands on it.
  2. Republicans vs. Obama: The Budget Battles Begin: This infographic compares the budget proposals from the GOP and from Obama. This is a few months old, but it gives you an idea of the starting point for budget negotiations earlier in the year. Of course, right now we are waiting to see if some sort of compromise can be reached before the U.S. begins defaulting on some of its debt.
  3. Wasteful US Government Earmarks in 2008: Do you want an idea of how much is wasted in earmark spending? This infographic can give you a pretty good idea. You might be surprised at some of the things that are considered “worthy” for your tax dollars. Of course, this is only 2008. Some of the waste might have changed, but overall final numbers are probably similar year to year — unless they go up, of course.
  4. Government Spending State-by-State Breakdown: A look at, from fiscal year 2009, federal government spending on each state. It’s an interesting infographic that can help you account for where money goes on a state by state basis. You might be surprised at where most of the money goes.

Taxes

Everyone knows about taxes. Accounting principles are used in figuring taxes, collecting taxes, and using taxes for various purposes. Here are some interesting infographics related to taxation.

  1. Tax Breaks vs. Budget Cuts:  A look at the numbers behind the budget cuts being proposed to help reduce the deficit. Tax breaks aren’t on the table, but tax breaks are costing the country as a whole. Indeed, the one year cost of tax breaks, according to this infographic, is $42 billion, as compared to the $44 billion total cost of programs at risk. With tax breaks, programs wouldn’t need such deep cuts. It’s an interesting look at what tax breaks might be costing us.
  2. Interactive Infographic on Tax Freedom Day: If you are interested in the point at which America as a whole has paid off its tax obligations, this interactive infographic can help you chart the course of history. You can control some of the data points to focus on information of particular interest to you. It’s a fun tax accounting tool.
  3. Projected pot tax revenues: Could a pot tax help solve our budget woes? Maybe. This infographic looks at the types of revenues that could be seen if marijuana were legalized and taxes collected on it. An interesting infographic that shows some of the potential of expanding the sources of tax revenue. This infographic suggests that $700  million could be generated each year by a pot tax.
  4. Federal Tax Payments Per State: Find out how much each state pays in taxes — and how much each state gets back. Many of the states that pay the most in taxes get back less than they paid. This interesting infographic breaks it down, and also shows you how much each state gets back for a dollar. Mississippi, for instance gets $2 from the government for every $1 paid in taxes.
  5. Carbon Tax and the U.S. Federal Deficit: Could a carbon tax reduce the federal deficit? Add this to a pot tax, and nearly $1 billion could be saved. It’s an interesting infographic that looks at some of the possibilities for reducing the deficit — and considers whether or not there are some other options.

Business Information

What can you learn about business from infographics? Plenty. These business accounting infographics are informative — and some of them are also entertaining.

  1. Small Business Facts: A look at some facts related to small businesses. You can see how many fail, and some of the reasons that they fail. A great look at businesses, and accounting, and other items related to running a small business. An interesting and illustrative infographic. Before you start a small business — or abandon one — this infographic can provide you with solid insight.
  2. Startup Bubble 2.0?: Takes a look at the money numbers behind the recent tech startup IPOs. Looks at venture capital numbers, and consideres revenue. It also looks at pre-collapse comparisons, and considers the hottest Internet deals as of Quarter 1 2011. It’s a good look at the current environment, and what could be next for the market.
  3. What Are the Biggest Small Business Tax Mistakes?: Before you find yourself in trouble, consider these small business tax mistakes. As you set up your accounting system for the year, pay attention and avoid these problems. You’ll find yourself less likely to be audited, and you will feel confident if you are audited. After all, you did everything by the book.
  4. How Corporations Get Out of Paying Taxes: Accounting tricks can help big companies avoid paying what they owe in taxes. From legal loopholes, to a low tax rate, to tricks that are considered a little shady, this infographic is quite instructive and eye opening.

Economy

Study the numbers that make up our economy. How does all the money movements in the economy affect our lives? These infographics can show you.

  1. The Resurgence of the American Automotive Industry: Takes a look at how fiscal policy has helped the auto industry, which some believe is important in the grand scheme of the economy. This infographic shows how the auto industry emerged from serious problems to start a turnaround. A look at where we’re at now, and where different parts of our cars come from.
  2. How Coffee Affects the Global Economy: This is cool. See the way that coffee impacts the global economy. You probably didn’t think that what you drink each morning makes such a big difference, but it does. A great accounting of coffee, and its place in the workings of a globally connected economy.
  3. Where Did All the Money Go?: An infographic that illustrates what happened during the financial crisis and meltdown. Follow the money as it slowly disappears from the economy. An interesting account of the financial crisis. Be sure to look at the other infographics on the page for more insight on the global economic meltdown.
  4. Quantitative Easing: Awesome infographic about the concept of quantitative easing in the economy. It’s supposed to help stimulate the economy, and you can see the way it works — in theory. A great accounting of QE, and what to expect (or be disappointed about).

Personal Finance

Your personal economy is affected by the way your financial numbers add up. These infographics provide you with a way understand personal finance concepts, and get information about your situation.

  1. How Free is Your Checking?: A look at your checking — and how free it may not be. Service fees, ATM fees and balance requirements can really change the way you do your accounting within your personal economy. It’s a good idea to know what is happening with your checking account. A basic look at one of the most basic of financial concepts.
  2. 5 Steps for Filing a Back Tax Return: Do you need to file a return for back taxes? If so, it can be an accounting nightmare. This infographic takes you through the steps you can follow to properly file this return. Of course, proper filing of your back tax return doesn’t change the fact that you will owe penalties and interest.
  3. RRSP Facts and Figures: For our Canadian friends, here is a great infographic with all you wanted to know about RRSPs. An informative graphic that can help you learn more about this tax advantaged savings vehicle.

50 Best Business Accounting Blogs

Whether looking to become an accountant or do some DIY finance work, simply contacting a professional CPA to get the answer to a question they probably answer all the time can be an expensive process. This is even truer for struggling business owners who can’t afford to pay an accountant full time or wait for tax season to have their expenses in order. However, with a little time and some patience, there is help on the web.

If seeking to cut down on time spent researching, have a look at the below 50 best business accounting blogs. They are useful for everyone looking to start a business to those interested in shutting it down and everything in between. Continue reading →

29 Financial Articles Every Freelancer Must Read

Freelancing isn’t all fun and games. There’s a lot of grunt work, being persistent to keep your clients and keeping up with paperwork (or e-trail) for finances. There’s no room for error when you’re handling everything yourself. Be smart about spending money to make money and always make sure you’re organized to reference past invoices or follow up with an old client with minimal digging. Blog Posts for Freelancers on Taxes Taxes. They’re intimidating for nearly everyone, but for freelancers, they can be especially grueling. Learn how to take control of your finances so tax season is routine and not draining your bank account on April 15th.
    1. All Freelance – Taxes There’s an endless supply of info for freelancers dealing with taxes. From how to estimate what you’ll have to pay to what to look for in an accountant or CPA. These are important tips every freelancer should be familiar with. 2. About Taxes – Getting Organized Part of making tax season painless is to keep impeccable records of the money coming in and money being spent on business items. This article discusses how to make this easy by staying organized. 3. O-Desk – Tax Tips You Can Use Now Get organized with the help of this blog post that talks about receipts, who owes you a 1099 and how to open a business account for your related finances. 4. MoneyWatch – Tax Tips for Freelancers: What You Can and Can’t Deduct Get a look at what you can and can’t deduct from your freelance expenses when tax time arrives. Separate these things in your head so you can easily separate the receipts as they roll in. 5. The WorkBuzz – Tax Tips for Freelancers It’s all about getting organized when it comes keeping track of your finances for tax season. This blog post shows you how to keep track of tax duties and the best way to ensure you have enough money set aside for paying taxes off in full. 6. Anti-9 to 5 Guide – Freelance Tax FAQs If formal tax sites confuse you, check out this blog posts which anyone can understand. It breaks down the basics of freelancers and taxes. 7. In the Woods – Extremely Important Tax Rules for Freelance Designers in the U.S. In the U.S., you owe taxes on every cent you make as a freelancer, regardless if you get a 1099 from the employer or not. This blog post explains a few other basics on taxes that will help you figure out your finances. 8. Matador Network – Tips, Tricks and Tax Deductions for Freelancers Check out this simple breakdown of what you can deduct as a freelancer. It also explores filing for an extension in case you aren’t on top of things when April 15th arrives. 9. Coroflot – Last Minute Tax Tips for Freelancers If the weekend before the due date sends you scrambling into a frenzy to look for an accountant, it’s time to get organized ahead of time. Here are a few last minute tips for those who are against a deadline. 10. Bukiska – Freelancers Guide to Important Tax Deductions Sure, everyone knows the basic items they can deduct, but what about items you might be missing like bank fees and marketing materials? Find out what else can be put on your itemized deduction list when filing taxes. 11. Lifehacker – Check These 10 Freelancer Tax Deductions Before Filing This blog post is perfect for those who are new to the freelancing game and aren’t sure what’s what when it comes to deducting items. 12. Freelance Zone – The Most Important Resource You’ll Need for April 15th If you’re weary about getting all of your ducks in a row, check out this article. This post serves as a pep talk to let you know you don’t have to fear the IRS when you’re an organized freelancer. 13. Every Joe – Estimated Taxes for Freelancers Part 1 This is a simple lesson in taxes for freelancers. It brings things down to a realistic level that every freelancer can understand, even if it’s your first rodeo. 14. The Adventurous Writer – Income Tax Tips for Freelancers, Bloggers and Online Writers Learn how to get your taxes in order when you’re freelancing on the web. This blog post offers great tips including how to estimate your taxes best on your tax paperwork from the previous year. 15. Write From Home This blog covers tips for freelance writers, but their plentiful content over how to handle taxes works for freelancers of any type. There are helpful articles on getting started as a freelancer, so your records are always in line.
Blog Posts for Freelancers Over Keep Finances Organized Keeping your finances and bookkeeping under control when you’re a freelancer can be tough. You’re one person, but it’s important you keep up with all money coming in and all money going out. These blog posts will help freelancers keep their finances in organized, no matter what time of year it is.
    16. Brandfreeze – Invoicing and Financial Management Apps for Freelancers Here’s a look at the best apps for keeping track of freelance payments and billing right from your mobile device. 17. Isamaas – Financial Management Tips for Freelancers This articles gives you the skinny on how to keep up with finances as a freelancers, including what’s worth spending money on like an accountant in order to keep your money in line. 18. All Freelance – How to Get Your Clients to Pay On Time & Bill Collecting This site has a bevy of articles on bill collecting and how to nicely get a client to pay if you have an outstanding balance for months on in (hey, it happens). 19. All Freelance – Financial From how to set a budget to whether you need business insurance for your at-home operation, this page has countless articles to help freelancers new and old keep their money working for them. 20. Technotip – 5 Financial Mistakes New Freelancers Make Here are some of the basic financial mistakes nearly every freelancer makes when starting out. If you’re still falling prey to some of these things, it’s time to re-evaluate your goals as a freelancer. 21. DesignM – Financial Management Tips for Freelancers Retirement, savings and tackling multiple bank accounts are covered in this helpful blog post for freelancers. 22. Freelance Folder – 3 Freelance Bad Habits That Lower Your Rates Freelancers can deal with an array of bad habits that waste their time and in the end, effect the bottomline. Learn how to steer clear of giving away work and wasting the work day. 23. MoneyWatch – 4 Smart Money-Saving Tips for Freelancers When you’re a freelancer, you have to be careful about how you spend your money. After all, you never know when a job with disappear or a client won’t be able to pay up. Here are tips for saving funds for rainy days. 24. Forbes – 8 Money Tips for Freelancers The financial pros from Forbes show freelancers where to skimp and where to spend in order to take their business to the next level. 25. Freelancers Journal – Online Payment Methods Getting paid online is the norm for the modern freelancers, but it can be difficult to figure out your options. This article explains the advantages to being paid online. 26. 1st Web Designer – 15 Tips for Freelancers: What to do With Slow Days and Dry Times As a freelancer, you know that not every single day will be packed with work and loads of money trickling in. When times are slow, there are still smart things you can do to make the most of the money you’re making and the downtime you have. 27. Freelance Folder – Student Freelance Tips to Budget Your Freelance Earnings Folks are freelancing at an earlier age, so if you’re still a student and working your freelance skills, it’s important to make the most of the money that’s coming in. Learn the ropes early so you can parlay your freelance gig into a full-time career once you graduate. 28. Money CNN – Financial Planning for Freelance Workers If you feel you’re the only freelancer out there who doesn’t have their finances under control, think again. Read this interesting article over a family where both parents freelance and how they’re taking control of the money their careers bring in. 29. FreelanceSwitch – Retirement Planning from a Freelancer’s ViewpointThis article teaches freelancers how to go about planning for retirement and how much money to set aside according to how much money you’re bringing in.
Get your finances in check as a freelancer and you can enjoy the freedom of your job and put yourself into your work without feeling like tax season will creep up on you out of nowhere. Keep your records organized and make the investment in a CPA or accountant to ensure you mind your p’s and q’s and the IRS stays away.