The new year is quickly approaching which means your year-end bookkeeping needs to be reviewed and wrapped-up very soon. The checklist which follows will help you through the main points so you’re ready for your meeting with your Tax Specialist or CPA. Taking time to make your accounting accurate can reduce headaches later, especially at tax [...]
It's easy for a small business owner to disregard some of the small mistakes made with their bookkeeping. It's understandable: owners are short on time. Other tasks feel more important and it can be difficult to keep up with changes in QuickBooks, too. With a bit of help, most of the common bookkeeping mistakes are easy [...]
As we get closer to year-end, most businesses will begin thinking about “taxes” — one of the most dreaded words in small business. If you start thinking about your bookkeeping and taxes in January, it’s too late. Updating your bookkeeping and reviewing your financials prior to year-end is very important so you may do something about [...]
You need to prepare for year-end tax planning well before year-end. Tax planning strategy done early can pay dividends. The end of the year is the time for getting your bookkeeping completed and to plan to advance your business to the next level. With some careful tax planning, you could end up pocketing some cash. You [...]
You’ve likely heard already that tax returns needing to be filed for 2016 have new due dates. Legislation passed by Congress in 2015 now takes hold and some regular due dates that fall on the weekend were adjusted. Here is a summary for your reference. The due date changes with the most impact will likely be [...]
No matter your entrepreneurial and leadership experience, you are going to face some challenges as you grow your business. All small businesses tend to share some common growth challenges depending upon their level of maturity. Here are small business struggles at different stages of maturity from Start-up to Exit. Some struggles are common at all stages. Some [...]
Are you going to file a tax extension again this year? If you are in the habit of filing a tax extension each year, you are not alone. According to the IRS, over 20% of taxpayers put off their taxes until the final two weeks of the tax season. And, 7% of taxpayers file for an [...]
As a small business owner, you often hear about “Tax planning.” To make it simple, tax planning is the practice of analyzing multiple tax options to decide how you want to operate your business as well as your individual transactions to minimize or eliminate your tax liability. Most small business owners are good at what they [...]
You’re a business owner, who wants to take a two-week trip around the US…Wonderful! But did you know that you could legally deduct every dime that you spend on your vacation? Well, here's how to do it in 5 easy steps: 1. Make all your business appointments before you leave for your trip. True [...]
