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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Audit vs Review: How to Know the Difference and Which is Right For You
In the last few posts, we’ve been focusing on what it takes to work as a general contractor in the state of Tennessee. (Check out this one on “TN Contractor’s License Renewal Made Easy…” if you’re just getting started.) One of the big steps in that process is...
How to Know When a Reviewed Financial Statement is Better Than an Audit
“Audit” is a word that strikes fear into most small business owners. If it’s from the IRS, it means that the government is taking an extremely careful look into your finances and tax reporting. (Your level of participation in the tax process up to that point will...
3 Ways Nonprofits Can Benefit From Having a Trusted CPA
It’s hard running a nonprofit business. Most days, it’s like you’re part of a band—and you’re the drummer, the lead guitar, the bass guitar, and lead singer (while running sound and lights) all at the same time—and struggling to keep tempo! We understand...
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Accounting For Nonprofits (A Complete Guide To What You Need To Know)
Nonprofits exist to make positive improvements in their community (or however far their impact reaches). They meet needs and raise awareness of issues in our world in ways that lone individuals usually cannot. And they are an incredibly valuable part of our society....
Can You Deduct Farm Expenses Without Income? (What You Need To Know When The Crops Don’t Come In)
We all know that you pay taxes on the money you make during the year. We also know that one of the nice things about our current tax code is that business owners are able to deduct expenses from those taxes in order to reduce their overall tax bill. Farms are...
How Often Do Small Businesses Get Audited? (And What You Need To Do To Prepare)
How often do small businesses get audited? And should you be concerned that your company might be next? These are questions that small business owners face at some point in their careers, and knowing the answers might help you avoid a lot of stress and headaches...
Is A Venmo Nonprofit Account A Good Idea For Your Charity?
Venmo nonprofit accounts are quickly becoming a big part of the charitable giving scene. But is it something your organization should be using or not? What are the advantages? Are there any downsides? We think you deserve the best information when it comes to making...
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...