Time is money, but for small businesses sometimes it seems like you don’t have either to spare. While there are some tasks that you can tackle yourself with the help of a book or a few YouTube videos, there are others that you shouldn’t risk letting someone else handle....
How do you make the right decisions for your business? You might be surprised how many businesses don’t have updated bookkeeping and accounting records. Without them, there is no way to fully understand what the best path forward for your business is. What are some of the benefits of...
Medical practices that work with insurance providers always need to be conscious of the accuracy of claims that they are submitting. If you suddenly receive an audit notification from one of the companies that you work with, it can be panic-inducing if you aren’t sure whether or not your...
As a business owner, you are always working hard to stay on top of your finances, plan ahead for future growth and improve your current business. One of the best ways to manage your money with a plan is by utilizing the five most important accounting reports for businesses....
As we approach the end of a particularly stressful and tumultuous year, it’s time to take a moment to assess the financial state of your business and complete your accounting end of year checklist. A single mistake on one financial statement during one business year can snowball into major...
Failure to pay business taxes punctually or accurately is usually due to inadequate preparation. The following daily, weekly, and monthly tasks will help you keep your finances in order and avoid paying tax penalties: Daily Accounting Responsibilities 1. Check Account Balances Check your business bank account and credit card...
Dear Clients and Prospects: First and foremost, we are here to support you and your businesses during this challenging time. As the Covid-19 situations unfolds we continue to monitor the latest tax law changes and incentives for businesses and employers. Below is a summary of the more recent changes...
Are you required to file a 1099 tax form? As a general rule, you should issue a Form 1099-MISC to each person or unincorporated business to whom you have paid at least $600 in rents, services (including parts and/or materials), prizes, awards, medical and health care payments, royalties (at...
In a recent revenue procedure, the IRS updated two lists of countries with which the United States has agreements that require payers to report certain deposit interest paid to nonresident alien individuals who are residents of the other country. One list is of countries with which the United States...
Cryptocurrencies were the rage until December 2017 when the Bitcoin pricing reached all-time highs of close to $20,000 after having been as low as $1,000 in January of that year. The pricing of Bitcoin was only 7 cents when trading started in 2010. By the end of 2018, the...
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