It has been said that “the best things in life are free, but sooner or later the government will find a way to tax them.” When it comes to paying taxes, no one gets excited. It’s a headache to get all the forms, records, and receipts together. Then, once you do get...
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Keep Up With Receipts Like A Pro With These 3 Simple Tips
Every transaction in your business has to be accounted for. In the nonstop world of a small business owner, it can be a real challenge to keep up with receipts. You either forget to enter the expense in your accounting software, or you just guess at the amount. Either...
5 Important Questions to Ask Your CPA Every Year
Meeting with your CPA shouldn’t be a one-time event where you simply hand them the keys to your finances and walk away. In order to take full advantage of the CPA you’ve teamed up with, here are 5 questions to ask your CPA at least every year.
Home Buying How To: Choose the Right People
With interest rates for homes looking so tempting right now, we are seeing a lot of interest (and hearing a lot of questions) around the topic of the home buying process. We’ve put together some considerations for you and hope they will help you be better prepared for...
Home Buying How To: Money Is Important
Are you looking at buying a new house or refinancing your current one? With interest rates being so low, we are seeing lots of our clients asking questions that direction. Before you get too far down the road of (re)financing a home, though, you will need to be as...
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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...