The Big picture Hopefully, when it comes to taking stock of your business, you have managed to stay on top of your book for the whole year. Even if your records aren’t perfect, with one month left before taxes are due, now is an excellent time to get a handle on your accounting. Most people…
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Almost to the end of 2020 Towards the end of the fourth financial quarter, it is essential to take stock of where your company stands. Hopefully, you have been keeping track of your business’s economic activities throughout the year, so you are not scrambling to catch up. We know that taxes are one of the…
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Cross your T’s and Dot your I’s If you are a business owner, you have to keep an eye on many aspects of the company. Making sure you remain profitable with a good debt to asset ratio is your number one priority and allows you to continue the venture and pay your loyal employees. However,…
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Some Things Change It sure has been a whirlwind few years and the changes seem to be coming faster and faster. It is important to gear up for the upcoming fiscal year starting on October 1st. We will take a look at some important habits to have with our bookkeeping and note any upcoming IRS…
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Taxation with Representation Tax season is a hectic time for most people. Trying to dredge up required IRS documentation is a hassle. Even if you keep meticulous records, you may find yourself rummaging through confusing and perhaps even excessive paperwork. While individuals feel the pressure to be accurate to avoid messes like audits down the…
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Bookkeepers Save You Time As a small business owner, time is your most valuable asset. Unfortunately, finding the time to deal with tedious paperwork, complicated tax forms and budget calculations is not always on the top on the list. Proper financial management is the cornerstone of getting your business off the ground and keeping it…
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Not everyone with a business background is qualified to manage finances. Even for small businesses, bookkeeping can be complicated. Balancing payroll and profits, along with fixed and variable expenses, can easily get out of hand. When you have other important responsibilities to juggle (like day to day operations and staff management) it’s easy to become…
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Why Budgeting is Important Setting up a budget for your small business is quite possibly the greatest determining factor in how viable your business will become. A budget lets you clearly identify if your company is making money or losing money before it’s too late. Budgets are a very important tool for business planning. Before…
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Get a handle on Bookkeeping. As a small business owner, your job is not easy. You’re already challenged enough by all the hats you wear without the added stress of record keeping and paperwork management. But since proper bookkeeping is absolutely vital to the success of any business, large or small, you may find yourself…
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Every year at mid-year, our bookkeeping specialist Trisha sends out a financial letter to her clients. This letter, often referred to as her “scary letter”, contains beneficial information about potential tax liabilities and gives some insight into what small business owner’s could potentially owe in taxes. Although not intended to be scary, some of the…
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