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...
Dec 14, 2019 | Bookkeeping
When looking for different types of expenses that one would think may be on an Income Statement, it can get confusing when they can’t be found, like Debt Payments and Owner’s Draws! Believe it or not, there are times when things may ONLY show up on the Balance...
Oct 8, 2019 | Bookkeeping
1099s – What Are They? With tax season quickly approaching, one of the big questions that we get is based around the 1099 form. While there are multiple kinds, we’re going to focus on the 1099 MISC. So, what is the 1099 MISC tax form? This is a tax return...
Aug 13, 2019 | Bookkeeping
Did you have a chance to read our Common Accounting Terms – Part One? If not, take a peek and than come back for Common Accounting Terms – Part Two! When looking at all of these items, you’ll also want to make sure you understand if they were prepared using the GAAP...
Aug 1, 2019 | Bookkeeping
Be honest. How many times have you walked into a conversation about accounting and finance items in business and spent some of the time faking your way through the discussion as others were throwing around unfamiliar words and explanations? It’s totally uncomfortable,...
Jun 11, 2019 | Bookkeeping, Business Updates
Many business owners face the question of when it’s time to open a specific business bank account for their business. Some, however, continue to use their personal account and never think about the consequences it may cause down the road. There are many reasons why...
Apr 30, 2019 | Bookkeeping, Business Updates
Reconciling your accounts may seem like an arduous, or even unnecessary process, but alas, it is one that must be done. Do you ever sit back and wonder why, though? You’re not alone. Many don’t understand why they constantly reconcile their accounts, but after you go...
