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If you have ever actually owned or used Bitcoin, you might be interested in knowing just how cryptocurrency may affect tax payments — or your tax picture. Regardless of how you acquired your bitcoin, understanding its outlook on your tax… Read More
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Tax Changes – How Will Tax Season 2022 Look?
The 2022 tax season is the third one since the COVID-19 pandemic began, and as has been the trend, there are a lot of changes. It’s unlikely that the 2022 tax season will look like it did in past years,… Read More
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How to Spot Accounting Discrepancies
Unfortunately, accounting errors are all too common. In fact, even the most educated accountant and the most experienced CPA can make minor mistakes. However, these mistakes could be detrimental, which is why you want to avoid making some of the… Read More
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Tricky Business Questions: S Corporations and LLCs
Business owners often struggle with properly determining how to effectively and efficiently set up their overall business and tax structure. There are so many different terms out there, from “sole proprietorships” and “limited liability partnerships” to “corporations” and “limited liability… Read More
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Here’s How You Can Budget Your Small Business!
It’s possible to balance your budget. Although this prospect gets even harder when you run a business, you can do it without fear of breaking the bank. With a solid financial foundation in place, you can ensure that your startup… Read More
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2 Ways You Can Avoid Penalties from the IRS
Tax Day 2022 returns its original April 15th deadline. While that seems like it’s ages away, it’s a good idea to stay on top of your finances. Falling behind on tax payments (or even worse – outright dodging the taxes… Read More
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What in the World is the Withholding Tax?
The only thing that is as certain as paying taxes is how complex they are. There’s no way around it: taxes are confusing. That’s the way they’ve been for centuries (when collectors took wheat or rice instead of coins or… Read More
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3 Good Reasons to Switch to Cloud Accounting
The accounting industry is always changing. Advances in technology change the landscape, which is true for many facets of modern life. Even if you own a relatively small business, you can afford to utilize cloud accounting. This approach will, hopefully,… Read More
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How to Make Sense of Complicated Balance Sheets
There are no two ways about it: it can be hard to decipher a balance sheet. It tracks your incomes and outlays. In other words, it shows you what assets you have and who their owners are. You must keep… Read More
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Receipts and Paperwork: Getting Your “House” in Order
Running a small business is much different than being responsible for a larger company. Piles and piles of paperwork can quickly add up, which means your important papers and incoming mail could be getting lost in the shuffle. How do… Read More