6 Summertime Tax Tips

Taxes are probably not what comes to mind when thinking about Summer, but you may be surprised at some of the ways you can reduce your 2022 income taxes.  Consider these summertime strategies: 1.) Tax-free rental income If you rent … Read More

Venmo & Contractors

Venmo and other payment apps are becoming a popular way to pay contractors. We talked about the “1099-K exception” in the last post, where if you pay someone via a “third-party processor” you do NOT need to issue a 1099 … Read More

Why is Bookkeeping Important?

Bookkeeping is the regular recording of financial transactions and information pertaining to a company’s activity. It is the methodical recording of a company’s financial transactions. It guarantees that financial transaction records are up to date, correct, and complete. Individuals or … Read More

ID Theft and Cybersecurity Precautions

Almost everyone has heard about identity theft, and certainly have seen news articles about company database breaches and hacked bank accounts. Most recently, the SBA reported millions of dollars awarded to nonexistent businesses from “fake PPP loan applications.”   Information … Read More

Don’t DIY Your Business Tax Returns!

DIY or “do-it-yourself” activities are meant to save time and money by doing tasks you’d typically hire a professional for. Unfortunately, DIY projects can lead to more losses than financial benefits, especially when it comes to big jobs like preparing … Read More

Eliminating Small Business Debt

Let’s be honest, debt gets a bad rap. However, almost two-thirds of all small businesses have it. Sometimes, having small business debt can help you expand and grow your business, so it isn’t always the big bad wolf you might … Read More

2022 Standard Milage Rates Announced

As it does every year, the Internal Revenue Service recently announced the inflation-adjusted 2022 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2022, … Read More