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

5 Tips to Raise Your Prices

Needing to raise your prices is typically good news – it means your business is growing! However, raising your prices is nerve-wracking. It is a sensitive topic, and it can be uncomfortable bringing this up to your customers, especially those … Read More

Self-Employed Tax Deductions

There are a lot of benefits to being self-employed. Many would argue the ability to write off business expenses is one of those benefits. However, tax deductions can be a mixed bag. Incorrect deduction can draw the flaming eye of … Read More

Can an S Corporation Own an LLC?

My clients often struggle with determining how to set up their businesses and tax structures since “corporations,” “limited liability companies,” and “sole proprietorship” can often seem like overwhelming terms. Along these lines, one question I am sometimes asked is: Can … Read More

How To Handle An Audit

The pandemic brought on many tax changes- including the uptick in small business audits. In 2020, the IRS announced its plan to increase small business tax audits by 50% in 2021[1]. This is likely the last thing business owners need to worry about. Plus- … Read More

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