Most people know that CPAs are known for helping people prepare and file taxes. Small business owners who work with CPA firms probably also know that CPAs are in a great position to help with bookkeeping and accounting as well. If you’re new to business (or have...
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How Do Small Business Loans Work (And Other Things You Need to Know)
If you’re a small business owner, you already know that it takes money to make money. The only problem is…what do you do if you don’t have any money to start with?! Banks can help you get going in the form of a loan. You’ve got the idea and the passion to make it...
How to Start a Construction Company (And Pick The Best Structure)
If you’re wondering how to start a construction company, this post is for you! Starting a business that specializes in one of the many construction trades (or starting a general contracting business) can be overwhelming. But it doesn’t have to be. We’re here to take...
How General Contractor Accountants Can Help You Avoid Costly Mistakes
Construction is simply different from every other industry. With retail, manufacturing, or even agriculture, you tend to operate your business by fairly predictable patterns. Construction contractors (or general contractors), however, have to see each and every...
How To Decide Whether C Corp or S Corp Tax Advantages Are Right For You
It can get confusing when you’re trying to figure out the pros and cons of structuring your company as a C Corporation or an S Corporation. There are some definite tax advantages of S Corp for general contractors, especially for the solo entrepreneur. So we thought...
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How to Prep For A Business Audit (And Streamline Your Company)
The mere mention of the word “audit” is enough to cause some business owners to break into a cold sweat. They’ve either been through one before and it wasn’t a pleasant experience or they know that their records are in such a mess that they aren’t prepared for one.In...
Understanding The Basics of Inventory Accounting (A Guide For Small Business)
The goal of any business is to make a profit…usually, as much as possible. To do that, you have to generate revenue. And to do that, you have to move some inventory. This post will help you understand how your inventory accounting impacts your business so you can...
Unraveling Nonprofit Financial Statements To Help Your Organization Do Even More Good
When you run a nonprofit, you have to make every dollar count. Nonprofit financial statements help you stay on top of your income and expenses in a way that shows how you are responsibly using donors’ money. In this post, we’ll unpack what makes nonprofit financial...
The Minumum Acreage For Farm Tax Purposes (And Other Ways To Know If You’re Running A Real Farm)
Do you know the minimum acreage for farm tax purposes? Or what it takes to really be considered a “farm” in the eyes of the government? If you’re not sure, this post is for you. Minimum Acreage For Farm Tax Purposes We recently did a post on “How to Qualify for Farm...
Understanding The New Corporate Transparency Act (And What You Need To Do About It)
The U.S. government has passed legislation that now affects millions of businesses nationwide. If you own a small company, you need to know all about it since failure to comply can result in significant fines and penalties including imprisonment. Effective January 1...