Blog
Circumstances That Should Prompt An Immediate Meeting With Your Accountant
Do you have financial decisions that require an expert opinion? Are there burning questions about your taxes or investments that need answers? In these cases, it's best to seek help from a financial professional – especially when time is of the essence. ...
How Families Can Utilize Tax-Free Rollovers from 529 Plans to Roth IRAs in 2024
Do you have a 529 Plan? Are you looking for ways to increase tax efficiency in your retirement savings plan? If so, you’re in luck! Starting in 2024, families have the opportunity to take advantage of a new tax law that will allow them to make a...
Why Google Searches And Youtube Videos Aren’t Enough
There’s no denying that we live in the technology age. Everything at our fingertips with a swipe of an app. Need a quick answer? Plug it in to Google. Want to learn how to build or fix something, Youtube here you come. While it can be tempting to scour...
IRS Announces Tax Inflation Adjustments for 2022
Taxes, taxes, taxes….everyday you hear, everything is going up because of inflation and that includes taxes. The good news: the Internal Revenue Service (IRS) recently announced that it will be making tax inflation adjustments for the 2022 tax year. ...
Year End Business Account Checklist: Things to Do Before 2023
The new year is almost upon us. As you plan for holiday festivities and family gatherings, don’t forget that there are things that you need to do for your business to wrap up the year, as well. We’re going to discuss twelve things that you should...
A Small Business Owner’s Guide to Planning for a New Tax Year
As a small business owner, you know that taxes are a complex and ever-changing landscape. Why? Because as the economy changes, so does each new tax year bringing with it a slew of updates and new tax laws which can keep you scrambling to keep up. ...
Cryptocurrency And Its Effect On Your Taxes
Cryptocurrency has been in the news a lot lately, and for good reason. This new type of currency has the potential to revolutionize the way we conduct transactions and do business. But what exactly is cryptocurrency, and how might it affect your...
What Is Bonus Depreciation And How Does It Work?
As a small business owner, you're always looking for ways to save money and improve your financial stability, especially with the rise of inflation. But with the tax laws constantly changing lately, it can be hard to keep up. What can you do? You...
Employee Retention Credit – What You Need To Know And How To Qualify
With the COVID-19 pandemic continuing to wreak havoc on businesses across the country, many business owners are looking for ways to hang on and keep their businesses afloat. The good news is that there is help available in the form of the Employee Retention...
How To Survive A Cash Flow Crisis-5 Strategies You Should Keep In Mind
If you're like most small business owners, cash flow is always a concern. Why? Because no matter how well you manage your finances, a cash flow crisis can strike at any time and without warning. Perhaps you had a customer who failed to pay an...
The Second Half Of The Year Is Tax Saving Season! Here Are 5 Of The Best Things To Do Before The Year Ends To Save On Your Tax Bill!
The summer is winding down and it's time to get ready for the second half of the year! September through December is often referred to as "tax saving season." Why? This is because there are a number of tax breaks and deductions that can be...
You Want To Deduct What On Your Business Taxes?!?!?
You've just wrapped up another successful year in business, and it's time to file your taxes. As you start sorting through your expenses, you suddenly realize that some of them seem a bit...unusual. Can you really deduct that foam finger from the...
How Hiring Family Members Can Be A Good Tax Strategy For Your Business
Are you looking for a new way to reduce your business taxes? I mean, as a business owner who isn’t looking to reduce their tax liability…right? Did you know that one of the best ways to reduce your business taxes is by hiring family members? ...
Accrual Accounting vs. Cash Accounting: Benefits Of One Over The Other
Are you a small business owner who is struggling to keep track of your finances? Or are you just starting out and don't know which type of accounting method to use? If so, don’t worry! You got this and I’m here to help you along the way. ...
3 Types Of Taxes – Regressive, Proportional, Progressive (What You Need To Know As A Taxpayer)
Are you confused about the different types of taxes? You’re not alone! As we all know, there are many taxes that we have to pay on a yearly basis. Federal income tax, state income tax, property tax - the list goes on! While most people are familiar with the concept...
Prepping For End Of Year Capital Expenditure (CAPEX) Purchases-What You Should Know For Your Small Business
As the end of the year approaches, many businesses begin to think about making big purchases. Whether it's a new piece of equipment or a large order of inventory, end of year CAPEX spending can have a significant impact on a company's bottom line. However, while end...
What You Actually Need To Know About Tax Brackets As A Taxpayer
There are two things in life that are definite….death and taxes! As a taxpayer, it's important to understand tax brackets and how they work. The government taxes income using a progressive tax system, which means that people with higher incomes are taxed at a higher...
How To Keep Your Bill Payments/Account Payables Organized As A Small Business Owner?
If you're like most small business owners, you have a lot of bills to pay every month. From your rent or mortgage to your internet and phone bill, it can be hard to keep track of everything. Why? Because your cup is full and you have a lot to handle. You may wonder:...
How Can Owner Draws Affect Your Business?
Some Short Term And Long Term Effects To Be Aware Of When you own a business, there are many things to think about - from the initial planning stages and allocating resources, to marketing and long-term strategy. But what about the owner draws? Ever wonder if taking...
How Do You Determine How Much To Pay Yourself As A Small Business Owner?
When Your Pay Is Usually The Last Thing That Gets Paid As a small business owner, you wear a lot of hats. You're the CEO, the CFO, the janitor, and everything in between. It can be tough to keep track of everything, let alone make time for a regular paycheck. So how...
Lower Your Tax Bill Today!
The end of the year is such a fun time as we begin to celebrate the year we’ve had while looking forward to the new one coming. No one loves a new year the way an accountant does though!! It’s tax time, and we bet you’re looking for tips on trimming your incoming tax...
Are you looking at your bank account balance to determine your ability to make business purchases?
Why your business spending ability shouldn’t be measured by the available funds in your bank account… It’s interesting that most businesses manage their cash flow this way… If there’s something that needs to be paid and the money is in the account, they take out the...