Bookkeeping tracks the performance of an organization. Without this tracking, companies are left stranded at sea in the night with no lighthouses to guide them. Detailed financial records allow businesses to see what’s working and what isn’t so they can … Read More
The Internal Revenue Service (IRS) has issued its 2021 standard mileage rates. Beginning on January 1, 2021, the standard mileage rates for the use of a car, van, pickup or panel truck will be: 56 cents per mile for business miles … Read More
Are you are considering adding another member to your team? If so, do you think your employee will only cost you the $15/hour you plan to pay? Think again. Most business owners are surprised to learn that on average an … Read More
There are many ways to improve cash flow, so let’s take a look at some of the strategies that have been working for our clients. Review your cash flow statement (cash summary) regularly If you want your cash flow to … Read More
It is common practice this time of year for employers to give their employees gifts. Where a gift is infrequently offered and has a fair market value so low that it is impractical and unreasonable to account for it, the … Read More
IRS Tips for the Home Office Deduction Taxpayers who use their home for business may be able to deduct expenses for the business use of it. Qualified persons can claim the deduction whether they rent or own their home. Use … Read More
Let’s talk fear. Fear of costs, fear of information, fear of change. Businesses are often held back by fear in one or more of these areas. Sometimes it isn’t the fear itself but rather the unknown on the other side … Read More
Congratulations, you now own your own business. Now, you need to prove yourself in the role, which means staying motivated and on-task. This can be hard for a new entrepreneur. Here are some quick tips to ensure you’re a doer, … Read More
Between the upcoming presidential election and the COVID-19 pandemic and its attendant stimulus packages, this year has seen more than its share of uncertainty around tax — which makes helping clients with year-end planning all the more crucial. “Year-end tax … Read More
Thankfully, the odds that your tax return will be singled out for an audit are pretty low. The IRS audited only 0.4% of all individual tax returns in 2019 (down from 0.59% in 2018). Plus, the vast majority of these … Read More
