Being in business has many rewards.  We needn’t tell you that but due to the subject matter, it’s always good to remember why you started your business – because it’s rewarding! But entrepreneurship also has its annoyances, like when a client won’t pay up.  You’ve done your best to get that invoice paid.  You’ve sent…

It’s about that time – tax time!  That means it’s time to make sure you’ve got everything you need to file a return that’s coherent and fully documented. If you’re planning on claiming a deduction, then corresponding documentation must be attached to your return.  If you can’t prove the deduction, then you open yourself up…

The new changes to federal income tax regulations are the most monolithic in over 30 years. The Tax Cuts and Jobs Act passed at the end of 2017 by Congress, encompasses over 600 changes. While tax season usually starts at the end of January, this year’s tax season has been heavily impacted by the recently…

Breaking out in a cold sweat at tax time is nothing new and you’re certainly not alone.  But this year’s a little special, with the new Tax Reform Bill. We’re offering this post about your 2019 taxes:  what you need to know about the Tax Reform Bill, so you can come out the other side…

Your accounting practices are vital to the success of your business.  When you don’t get them right, there can be problems.  And source documents provide accounting paper trails which ensure that you know exactly what’s coming in and going out. Source documents like canceled checks and receipts need to be retained in a coherent manner…

You may look at the title of this blog and see just one more business expense.  But there are so many advantages to hiring a bookkeeping service and one of them, you’ll be pleased to hear, is reducing your costs. But hiring a bookkeeping service that delivers is what you’re after.  So, this post is…

The record you create with double-entry bookkeeping is the basis for your general ledger.  The general ledger is a compilation of all the financial records you’ve kept since the inception of your business. Your general ledger acts as a complete archive of all the financial transaction you’ve made for your company since you started out. …

Good and transparent accounting is the bedrock of any successful business.  Keeping your books straight is a major priority whether you like it, or not.  Somebody’s got to do it! But an important question you need to answer is:  which is best:  single-entry or double-entry bookkeeping?  It’s a crucial decision but one which needs to…

The time has come.  You’ve got all your ducks in a row and your ticket and hotel are booked.  You’re headed off on a much-needed vacation. But in the back of your mind, the wheels are spinning at warp speed.  You’re walking away from your business, leaving it in the hands of your trusted employees. …

Is the title alone making your head hurt?  Don’t worry.  It’s not as complicated as it sounds. Instead of starting with the subject of the title, why don’t we first define how a business plan, a forecast and budget are all part of the same thing? All three of these practices boil down to having…