Are you ready to save money on your taxes by making the most of meal deductions? Understanding how to navigate IRS guidelines can unlock savings that many individuals overlook. Imagine putting that extra cash toward your business or even a fun family outing!...
Bad Bookkeeping Costs Your Business Do you know where your money is going? If you're running a business, keeping your finances in check is crucial. But what happens when your bookkeeping isn’t up to par? Bad bookkeeping can lead to missed opportunities, costly...
Reading financial reports can feel overwhelming, but it’s a vital skill for any business owner. Knowing how to interpret a balance sheet and profit & loss statement helps you make informed decisions about your business’s future. You’ll gain insights into your...
How you pay yourself is crucial and depends on your business structure. If you run an S or C Corporation, you’re likely required to take a salary and for sole proprietors, you'll take an owner distribution. Regardless, it’s important to establish your compensation...
As a small business owner, choosing the right accounting services is crucial for managing your finances effectively. When doing so, you might consider whether monthly or annual accounting is the better fit for your business. Each approach has its own set of benefits,...
As a small business owner juggling daily tasks and dreaming of the day you can have someone else handle your accounting, you might be wondering how much you should budget for an accountant. So, let’s talk about the factors that influence accounting costs. We'll...
Let's be real, firing your accountant is never an easy decision. But sometimes, it's the only choice left when they drop the ball one too many times. Whether it's radio silence for months on end, a complete lack of tax-saving strategies, or last-minute scrambles to...
If you’re a business owner you probably started your business because you had an idea or a marketable skill set, not necessarily because you understood business. And as your business has grown, your skills have improved. We see this a lot in our clients, but what we...
Running a business demands precision and discipline, especially when it comes to financial matters. One common pitfall that entrepreneurs should steer clear of is the commingling of business and personal funds. This practice occurs when business finances and personal...
A MODERN CPA WILL HELP YOU LOOK FORWARD. As a business owner you are constantly worrying about how you can increase your income, make payroll, hire new employees, and a million other things. I get it. I’m a business owner too. But what I have found to be the most...
When hiring, you may find yourself considering whether to hire a new employee as just that, an employee, or hire them as a 1099 independent contractor. Before you make a decision, know that there are specific guidelines surrounding each type and what your...
Staying Compliant With Your Trust Accounting In working with law firms we see lots of trust accounts, along with processes that firms are using to ensure they are staying compliant with trust accounting rules. We want to make sure you are staying compliant too! Here...