A Guide to Compiling Personal Financial Statements
As a small business owner, having a guide to compiling personal financial statements is crucial for evaluating your financial health and ensuring compliance with generally accepted accounting principles (GAAP). These financial statements are essential for monitoring the health of your…
Read moreHow to Prepare for an Audit of Your Small Business
Understanding how to prepare for an audit of your small business is crucial in maintaining compliance and avoiding potential financial setbacks. As a small business owner, you may face different types of audits, so we’ll cover various aspects of preparing…
Read moreSmall Business Tax Planning: 5 Things To Do Throughout the Year
Although small business owners have a lot on their plate, tax planning should be a priority. Creating a financial plan to maximize your income and reduce your tax burden can help you profit more from your business. The best way…
Read moreWhen Should You Invest in Small Business Accounting Services?
You have a lot on your plate as a small business owner. From creating a business strategy to marketing, management, and accounting, there are often more things to do than there is time in a day. Delegating tasks can help…
Read more4 Money-Saving Tips for the Self-Employed
Especially following the work-from-home days of the pandemic, many workers are seeing perks of being self-employed. Owning your own business means making your own hours, setting your own standards and expectations, being your own boss, and having a limitless income. …
Read more5 Tips to Help You Figure Out How Much to Save for Retirement
Throughout your career, you’ve likely dreamed of what your retirement might look like. You imagine the vacations you will take, the place you will live, and the people you will spend your time with. Making that dream a reality, however,…
Read moreShould I Hire a CPA for my Small Business?
When running a small business, every dollar counts. Because of that, many small business owners simply use an accountant or try to navigate as much as possible out on their own. The problem with that idea? It often ends up…
Read moreEverything You Need to Know about a 401k Audit
If your business includes a retirement plan with 100 or more participants, you can expect to work with a CPA (certified public accountant) who will perform an audit. Essentially, the government wants to be sure the retirement plans provided are…
Read moreHow to Apply for PPP Loan Forgiveness
When the CARES Act became law in March of 2020, one of the most in demand offerings was the Paycheck Protection Program (PPP), which offered loans to businesses facing hardship as a result of the pandemic, and offered a path…
Read moreTax Cuts and Jobs Act – Changes for Businesses
On Friday, December 22, 2017, the Tax Cuts and Jobs Act was signed into law. The following tax law changes are effective for tax years beginning after December 31, 2017, unless otherwise noted. INCOME TAX FOR BUSINESSES There are several…
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