by | May 16, 2016 | Accounting & Bookkeeping, Income Taxes, Small Business Owners
Those who are self-employed are known as Independent Contractors. They may act as a consultant or a virtual staff member for a company or corporation. Meaning they do work on behalf of the company but aren’t considered an “employee” as far as benefits go – this means...
by | Apr 28, 2016 | Accounting & Bookkeeping, Business Profit & Cash Flow Tips, Small Business Owners, Small Business Success Series
Regular Profit and Loss Statement A business owner can only survive with good and current information. Outdated financial statements have very little value. You might receive your year-end financial statements in May of the following year and find that...
by | Apr 27, 2016 | Accounting & Bookkeeping, Books, Small Business Owners
If you’ve been thrust into the role of accountant in your business and have been assigned the unpleasant task of performing an audit, there’s no need for stress. Performing a basic accounting audit isn’t as scary as one may seem. Once you’ve determined the area...
by | Apr 25, 2016 | Accounting & Bookkeeping, Income Taxes, Small Business Owners, Tax Tip of The Week
When tax time rolls around, many tax payers have a difficult time determining if the deductions they think they are entitled to are really business deductions or just hobby expenses. The Internal Revenue Service has a very definitive answer to help determine...
by | Apr 19, 2016 | Accounting & Bookkeeping
Due to the reality shows that are plaguing the television airwaves, the word “forensic” might cause one to think about DNA evidence and fingerprints, but forensic accounting has nothing to do with either of these. While some may think that “forensics” is an...
by | Apr 13, 2016 | Accounting & Bookkeeping, Cash Flow, Income Taxes
Hard to believe, but it is tax season again. (For us it seems like it never ends!) That means it is time to start getting ready to file your tax return and pay your taxes. Most business owners put visiting their CPA right up there with visiting...
