Of course, you haven’t had time to think about the Taxpayer First Act. If you’re like most business owners, you’ve been busy trying to make sure your business stays up and running. The good news is that the TFA didn’t include any sweeping economic changes like the Tax...
If you work at home or you were one of many business owners to run your business from home during the pandemic, you’re probably counting on a home-office tax break next January. It probably won’t work out that way. Changes implemented by the 2017 Tax Cuts and Jobs Act...
As a business owner, you’ve endured your share of economic upheaval over the past months. In late March, Congress passed the Coronavirus Aid Relief & Economic Security Act to provide emergency financial relief. Complying with CARES Act requirements has been...
If you received a Paycheck Protection Program loan, you probably didn’t need help with PPP compliance. The program was a Cares Act provision. The application process was designed to respond as quickly as possible. You didn’t have to provide collateral or personal...
If you’ve always run your business on a cash-only basis, now is a good time to rethink your options. Like all local business owners, you’ve probably been working through some pretty tough times. If you’re up and running, that means you’ve made the necessary changes to...
If you’ve been in business for a while, you’re probably paper-addicted. If you’ve considered breaking your paper habit but just couldn't do it, you should know that there is always hope. Paper-addicted business owners rely on paper... everything! You send paper bills...
If you’ve ever gone through an IRS audit, you know that it’s often a hand-wringing experience. The IRS’s goals are no mystery. The examiner wants to verify that your tax return is valid and to substantiate your deductions. He also wants to know that you’re properly...
How can you tell if you need a bookkeeping service? Is size the primary measure? What if you’re a small but very busy business? Do you need a bookkeeper if you’re an artsy/creative type with a small but profitable customer base? Yes. Yes. Yes. That’s the answer to all...
How Hard is it to Keep Your Bookkeeping Up-to-Date? As a business owner, you work long days and sometimes you work into the night. Even when you have the best of intentions, there’s no way to keep up with everything. At least you stay on top of the important...
When you run a small to medium-sized business, DIY is often your go-to way to get things done. For a number of important reasons, bookkeeping shouldn’t be on that list. When you DIY your bookkeeping, you can keep an eye on your financial bottom line. That’s a good...