A comparison of tax planning and tax preparation Do you normally think about your taxes during the year, or do you just gather documents at year-end to prepare the return? If you have a business, do you check on your business income throughout the year and consider its taxability and/or wonder about...
As life changes, so do your tax responsibilities. Throughout the year, certain events can significantly impact how much you owe in taxes or what you may be eligible to deduct. Being aware of these events and understanding how they influence your tax situation can help you avoid surprises and maximize...
Starting a new business is an exciting venture, but it often comes with unexpected challenges, particularly when it comes to taxes. Many of my clients who start businesses encounter a significant tax bill in their first year of formation, before they have had a chance to do any tax planning. ...
My self-employed clients often ask me about what an S Corporation is and how it can save them money. Overall, an S Corporation is a formal entity that allows a business owner to become an owner-employee. Setting up an S Corp can save tax money since any funds that are...
Get your accounting done with the click of a button! I just finished the new QuickBooks Online training module to re-certify myself as an Advanced QuickBooks ProAdvisor, and I was amazed by the usefulness of all of the new add-ins the cloud-based QuickBooks platform now offers. It is truly loaded...
CPA services may seem expensive for your small business, but in the end they will pay off. All of your business transactions (every sale, every bill you pay, every distribution you make), your form of entity, and how you set up your processes will impact your profits and cash flows. The...
Accounting is the language you speak if you want to be profitable. Essentially, accounting is the story of what is happening day to day with your money. If you want to be profitable, you need a positive balance. The best way to interpret where your money is going is to...