If you’re like many small business owners, you may tend to keep many of the financial details of your business in your head or through handwritten notes. This could lead to a myriad of problems down the road, not the least of which is an IRS Tax audit. This blog provides some key bookkeeping tips for small business owners and entrepreneurs.
Learn the accounting lingo necessary for small business owners to effectively communicate with their accountants and manage their business finances.
Getting a letter in the mail from the IRS indicating that you are going to be audited is one of the scariest things that can happen, whether you're a small business owner or not. Some of these things may not be avoidable, but if they apply to you, you need to ensure your returns are done as accurately as possible.
Even with strong policies in place and regular auditing, fraud can still occur. However, keeping accurate records can help you identify offenders and lower the risk of long-running expense schemes occurring at your organization.
While not having copies of your receipts is not ideal if you're being audited, there are things you can do to prove your expenses to the IRS.
As an entrepreneur, you’re constantly striving to create the perfect conditions to help your business succeed. Here, we’ll discuss some key business practices to set your small business up for success and help you continue to grow.
Cloud computing for accounting is definitely how the firms of the future run ad optimize their business. Today we are bringing you more information on how moving to the cloud can improve your business and keep your clients happy.
As an independent, freelancer or 1099-er you may have been keeping a close watch on tax time this year as there are some significant changes to business tax code that could put extra money in your hands this year. If you can’t implement these tips this year, make sure you use them going forward so you can maximize the pass-through deduction in future tax years.
2019 is going to be all about fixing ineffective bookkeeping strategies, and helping business owners like yourself recoup some of their precious time. The following are 3 tips to help you streamline the bookkeeping for your business and start the new year off right.
In June 21, 2018 the Supreme Court ruled against quickbooks regarding internet companies paying state sales tax. This is known as the Wayfair decision. At the end of the day, it’s clear that business owners consider sales tax be much more complex than they would like.