How Accurate Accounting Boosts Your Company’s Value
Keeping track of your business’s money (accounting) is really important. It’s not just about following rules; it can also help your business become more valuable. Here’s how. 6 Ways to Increase Business Value Here are several ways in which accurate books can increase your business’s value: 1. Make Better Money Choices When you know exactly […]
6 Month-End Bookkeeping Tips: Start The Year Off Right
Each January you might be writing your goals for the year. How about putting month-end bookkeeping on your list? It’s important to make sure your company’s money records are well-organized. 6 Month-End Bookkeeping Tips So, here are some simple tips to help you. Match Your Bank Records: First, make sure that what your bank says […]
Understanding the 1099-NEC: Who Needs to Receive It?
In the landscape of tax forms and IRS documentation, the 1099-NEC Form is a crucial form for certain types of income. As tax season approaches, it’s essential to understand who is required to receive this form. What is a 1099-NEC? The 1099-NEC, “Nonemployee Compensation,” is a tax form introduced by the IRS for the tax […]
The Top 5 KPIs Business Owners Should Know
As a growing business, monitoring and tracking various Key Performance Indicators (KPIs) is essential. KPIs are quantifiable measures of performance over time for a specific objective. They help to provide practical goals and milestones to gauge progress, providing insights to help managers make better decisions. What KPIs should I track? While there are various KPIs […]
Boost Your Business’s Bottom Line: Tax Saving Strategies for Business Owners
As a business owner, maximizing your tax deductions and implementing effective tax saving strategies can significantly impact your bottom line. With the complexities of business taxation, it is essential to stay ahead of the game and navigate tax season with confidence. By unlocking the secrets of business tax planning and understanding key principles, you can […]
Florida Residents May be Entitled to Tax Relief
Victims of recent storms in Florida now have until August 15 to file various federal individual and business returns and make tax payments. The IRS automatically provides filing and penalty relief to taxpayers with an IRS address of record in the disaster area. Taxpayers would get the extra time even if they did not request an […]
Early Filers May Be Due an Extra Refund
Taxpayers who filed their federal income taxes early this year and reported state refunds they received in 2022 as income may want to take the time to file an amended return. After some uncertainty about the taxability of refunds and rebates issued by certain states concerning inflation, general welfare, and disaster relief, among other issues, […]
Tax planning shouldn’t be a last-minute headache!
Tax planning is not just a task to tackle hastily as December 31 approaches or a source of panic right before April 15. It is a year-round activity that requires continuous attention and consideration. Let’s explore some personal and business tax issues you can address throughout the year to make your tax planning more effective […]
Let’s Be Reasonable…
Has your CPA had a compensation discussion with you recently? Did they infer that your compensation is “unreasonable”? Don’t take offense. It’s not personal. But as a business owner, paying yourself a salary that aligns with the general marketplace is essential. After all, if your compensation is deemed out of line, the IRS could get […]
Accounting for Crypto
Cryptocurrency is a relatively new monetary instrument that has the potential to change the way we do business and transact currency across the globe. Often misunderstood or misvalued, it’s been at the crux of financial frauds and institutional collapses. It badly needs boundaries, categorization, and established policies for both trading and holding the currency. If […]
