• Small Business Tax Preparation Mistakes to Avoid from the Pros

    tax preparation

    When it’s time to get your taxes in to the IRA, all your hard work over the year can come to naught in the heat of the moment. When you’re under intense pressure mistakes happen.  But they needn’t. We’ve compiled these small business tax preparation mistakes to avoid from the pros.  These are key areas…

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    QuickBooks Online vs Desktop: Which Is Right for You?

    man figure questioning which QuickBooks version is best

    In a recent post, we discussed the fact that QuickBooks for Mac’s desktop version is being phased out, effective May 31, 2019.  On that date, availability to tech support and other features for desktop users will no longer exist, as Intuit moves operations for that operating system to its cloud-based QuickBooks Online product. As for…

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    QuickBooks for Mac: Best Options in 2018

    QuickBooks for Mac

    Uh-oh!  QuickBooks for Mac is being discontinued.  For those of you using QuickBooks for Mac 2016 (the most recent version), you’ll still be in business until May 31, 2019.  After that, you’ll need to make a change. QuickBooks moves online at that point, with Simple Start, Essentials and Plus versions to choose from.  So, don’t…

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    Year-Round Tax Planning For Reduced Liability

    man doing tax planning

    Planning for your finances beforehand can ultimately save you a tremendous amount of stress as well as ensure that your professional and personal goals succeed. Don’t wait until it’s too late. For many businesses and individuals, 15th April is usually a hectic day of the year in particular if you are trying to fill up…

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    Tips to Guarantee Your Business’ Longevity

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    You had the power to start your business. How do you ensure you stay relevant in the industry and avoid extinction? People open businesses every day, and some of them have failed. In as much as failure is part of progress, it is helpful to learn a few tips to help you succeed in keeping…

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    Reducing Tax Liabilities for High-Income Earners

    tax planning

    There is a direct relation between the overall taxes you pay and your total earnings. This particular relation can potentially lead to a high tax liability, especially for high earners. Nonetheless, federal tax rules permit precise deductions which can minimize taxes for the higher earners. As a higher earner, understanding these provisions in the tax…

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    Small Business Tips: How to Expand Your Business

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    Small business entities play an essential role in the business world. People are quitting their jobs to start something on their own. If you’re good at your business and it’s generally doing well, the thought of expansion must have crossed your mind. Nonetheless, keep in mind the fact that you only expand when you have…

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    Which Accounting Period is Right for My Business?

    a clock with tax instead of 12

    Perhaps you have just started a new business and you’re wondering how to choose the right accounting year for your business. Basically, there are two kinds of tax years: the fiscal tax year and the regular calendar year. The choice of your accounting year will significantly affect your accounting strategy and business taxes as you…

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    Top Payroll Service for Small Businesses

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    Contrary to what many people think, payroll is not a simple bookkeeping function or an annoyance that business owners or accountants have to take care of every month. It plays a crucial role in attracting, motivating and retaining employees. If miscalculation leads to errors, employees may become demoralized and dissatisfied. Errors in calculation aren’t the…

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    Small Business Accounting: Accrual vs. Cash Methods

    accountant working

    When it comes to managing your business’ books, one of the most important decisions to make is choosing which accounting method to use. Thankfully, there are only two options: accrual accounting and cash-basis accounting. While cash accounting recognizes expenses and revenues only when money changes hands, accrual accounting recognizes expenses when they’re billed and revenue…

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