Businesses Can Make New Year’s Resolutions Too

By |January 15th, 2020|Categories: Small Business Accounting|Tags: , , , , , , |

Now that 2020 is officially here, the opportunity of a new year and a new decade lies ahead. Any business can benefit from making a few resolutions to improve in a new year, no matter [...]

Seven Steps You Should Consider to Help Your Small Business Grow

By |December 30th, 2019|Categories: Small Business Accounting|Tags: , , , , , , |

Launching a small business is an exciting time in the life of an entrepreneur.  Once the initial momentum has worn off, however, it requires a lot of hard work and commitment to see your business [...]

Revolving Business Credit Is Important For Your Business

By |December 14th, 2019|Categories: Small Business Accounting|Tags: , , , , , |

Although positive cash flow is a must to run a successful business, it isn't always easy to come by. Between clients taking a month or longer to pay their invoices and all the expenses you [...]

What Every Business Owner Should Know About Excise Taxes

By |November 30th, 2019|Categories: Small Business Accounting, Tax Planning|Tags: , , , |

According to the Internal Revenue Service (IRS), both individuals and businesses pay excise taxes as part of the price of several categories of goods. Gasoline is one of the most common examples as is alcohol, [...]

Make Sure You Understand TCJA Rules Before Deducting Business Meals

By |November 15th, 2019|Categories: Business Expenses|Tags: , , , , , , , , , , |

In October 2018, the Internal Revenue Service (IRS) released information about changes to business meal expenses that it passed under the Tax Change and Job Act (TCJA) of 2017. The TCJA effectively eliminated the ability [...]

Ensure Compliance with Tax Laws by Using Same Guides as IRS Auditors

By |October 29th, 2019|Categories: Uncategorized|Tags: , , , , , , , , , , , , , |

Auditors with the Internal Revenue Service (IRS) use publications called audit technique guides (ATG) to help prepare them to conduct a tax audit. Under IRS regulations, businesses can use the same guides to check for [...]

Beware of These Fraudulent Payroll Schemes

By |October 15th, 2019|Categories: Payroll Fraud|Tags: , , , , , , , , , , , , , , , , |

According to recent information published by the Association of Certified Fraud Examiners (ACFE), payroll fraud occurs in approximately 30 percent of American businesses each year. Around half of the payroll fraud victims are small businesses [...]

How to Evaluate Accounting Firms to Find the Right One for Your Business

By |September 26th, 2019|Categories: Small Business Accounting|Tags: , , , , , , , , , , , , , , |

When searching for an accounting firm to assist with your small business financial functions, keep in mind that this will be a long-term relationship. If you do your due diligence in choosing the right firm [...]

Make Sure to Deduct the Cost of Business Meals Correctly on Your Tax Return

By |September 13th, 2019|Categories: Business Expenses|Tags: , , , , , , , , , , , , |

Even though the Internal Revenue Service (IRS) changed the law regarding the deduction of business meals almost one year ago, some people still feel confused about what they can and cannot deduct. According to the [...]

Classify Your Workers Right to Avoid an IRS Audit

By |August 30th, 2019|Categories: Small Business Accounting|Tags: , , , , , , , , , , , |

An independent contractor relationship can be mutually beneficial for both the worker and the employer. The worker, whom the Internal Revenue Service (IRS) considers self-employed, decides which clients and projects to take on and how [...]

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