Mar 24, 2021 | Business Updates
Like all things, this pandemic will eventually come to an end. But that does not mean businesses, large and small, have not learned some important lessons. Especially when it comes to beneficial financial items that could have been more helpful to have, had we known...
Oct 13, 2020 | Bookkeeping
When you have your own business (and are not taking traditional payroll), there is nothing worse than getting to the end of the year, preparing your taxes, and realizing that you owe WAY more than you anticipated. The government is not taking out taxes from your pay...
Aug 3, 2020 | Bookkeeping
Recently, we discussed Why Debt Payments and Owner’s Draws Don’t Show Up on a P&L, but Will be on the Balance Sheet. Since then, we’ve had a few questions on the major differences between the balance sheet and P&L statements. Therefore, we thought we’d dig in...
Jul 16, 2020 | Company Updates
We have Big News for Knecht Business Solutions! It is with great excitement that we share a big change coming to Knecht Business Solutions in the second half of 2020! We Are Growing! As a result of quarantine, many of us have been working from our homes over the past...
Jun 3, 2020 | Bookkeeping
With the tax filing extension moving to July 15th this year, due to COVID-19, we will discuss the Top 5 Tax Audit Red Flags to Watch Out For. 1. Not Reporting All of Your Income As you’ll remember from our blog on 1099’s which involved filing 1099’s, because the IRS...
May 27, 2020 | Business Updates
For those of you who received a PPP loan, the application to apply for loan forgiveness is now available. This PPP Forgiveness application needs to be completed in order to have the loan forgiven. Along with the application, supporting documents listed on Page 10 of...
Apr 11, 2020 | Bookkeeping
In today’s crazy environment, the importance of building an emergency fund for your household has been brought to the forefront. But, Is It Important to Build A Business Emergency Fund? You bet! The U.S. Bureau of Labor Statistics reports that approximately one-third...
Feb 20, 2020 | Bookkeeping
The dreaded tax season is back, but it doesn’t have to be painful. Here’s our Successful Tax Day Checklist for an LLC! This will help your business file successfully without being overwhelmed with too much information. Confused if you’re supplying the right items or...
