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Is Your Holiday Party Deductible?
Want to throw a great business holiday party for your employees? We all want to show our appreciation to our employees during the holidays and having a great party is one way of doing that. But is your holiday party deductible?
Can I Give a Gift to an Employee Without Tax?
Can I give a gift to an employee without tax? Gifts and bonuses are a great way to reward for hard work, so here’s how to do it tax free!
How to Improve Efficiency in Small Business
Today we’re going to talk about how to improve efficiency in small business to either help growth or help smooth out processes.
How to Tax Prep
How to tax prep. Today we are going to discuss the options of getting your tax return prepared. As a business owner, you have options out there, and we want to highlight some of those options for you. Do It Yourself The first option for how to tax prep is to do it...
End of Year Analysis
There's a whole lot of stuff that happens at the end of year. For some people the end of year means a rush to get all their records in place. They haven't done it all year. We never suggest this because you don't know what you're making. You don't know how well your...
Upcoming Deadlines for Small Businesses
Today we’re talking about the end of the year upcoming deadlines for small businesses. These are some of the things that have to get done before year end not as a business growth aspect, but as true deadlines that a business needs to be aware of when they're coming up...
3 Tips to Keeping Finances Organized
Organization can be one of the biggest issues and dilemmas that small business owners have. It causes a lot of stress that could be eliminated with a consistent way of doing things. Here are our three biggest tips to keeping finances organized. Pick a Method (and...
How to Tell If You Need to File a Tax Return
Today we're going to talk about how to tell if you need to file a tax return. We won’t get into a lot of the specific details on numbers and dollar amounts. But we do want to talk about filing different returns and what impacts actually having to file a return. We’ll...
How to Find Out If You Qualify for Tax Deductions
You might be wondering how to find out if you qualify for tax deductions. This is a hot topic for many people. For most people that use the internet, they usually just Google the answer. You can Google just about anything, but what you find may not be peer reviewed or...
Does Having a Small Business Help with Taxes?
Does having a small business help with taxes? A small business definitely allows you the opportunity to take expense deductions that you otherwise may not get as an employee. Employees may incur assets to do their job but they can't take a deduction on them because of...
Can I Take Money Out of My Business Account for Personal Use?
Today we're going to talk about a question we often get, can I take money out of my business account for personal use? The answer is, it depends. There's a number of different factors that go into deciding or determining whether you can take money out of your...
Setting Up a Small Business Line of Credit
Today we're going to talk about setting up a small business line of credit. But first let's discuss the differences between a line of credit vs small business loan. A credit line small business operates almost like a credit card. You have a limit of how much you're...
Tips for Figuring Out Business Roles
Today we're going to discuss figuring out business roles. We get a lot of questions from our clients in our consulting practice that revolve around the roles of people within the business as well as the duties that they have. There are a lot of roles and...
Deducting Personal versus Business Expenses
Today we're going to talk about deducting personal versus business expenses. What are personal expenses versus business expenses? The first step is determining when you can deduct business expenses is to define what those are. What is a Business Expense? A business...
How to Determine Tax Rate
Today we're going to talk about how to determine your tax rate. A lot of pass-through entities and small businesses have all their activity reported on their personal income tax return. So you’ll want to take into account your personal taxes when determining your tax...
Bank Services for Small Businesses
Today we're going to talk about bank services for small businesses. We'll talk about some accounts that you typically would want to set up for banking services. And we'll also talk about the necessity of the connection with the bank and how having the right bank setup...
How to Choose the Right Accounting Programs for Small Businesses
What are good accounting programs for small businesses? This is a question that a lot of people come to us with. Small businesses will often start off using an Excel spreadsheet to record their business activity. But as businesses grow, so do the Excel files. The...
How Does an S Corporation Save You Money
How does an S Corporation save you money? The first question you should be asking is what is an S corporation? An S Corporation is an entity - could be an LLC, or an actual corporation - that files that election with the IRS to be taxed as an S corporation. Once...
How to Choose the Right Accounting Programs for Small Businesses
What are good accounting programs for small businesses ? This is a question that a lot of people come to us with. Small businesses will often start off using an Excel spreadsheet to record their business activity. But as businesses grow, so do the Excel files. The...
Tips for Refocusing on Financial Goals
Do you have goals for your business that are just not being met? Are you having trouble keeping track of your financial goals or just aren’t sure where to start? Today we're sharing tips for refocusing on financial goals for your business so that you can be successful...
Six Ideas to Help Your Business Survive and Thrive
If you are like millions of taxpayers trying to make a living running a small business, you know it is tough out there. Here are six ideas to help your business survive and thrive. Understand your cash flow. One of the biggest causes of business failure is lack...
Never Take on an IRS Tax Audit Alone
Sleuthing your way through an IRS tax audit by yourself is not the same as fixing a leaky faucet or changing your oil. Here are reasons you should seek professional help as soon as you receive a letter from the IRS: IRS auditors do this for a living — you don’t....
Avoid Misclassification: Understand Independent Contractors
The best way to avoid misclassifying workers is to understand the defining characteristics of independent contractors — and then treat them as such. Use this infographic to help you identify independent contractors and understand how they are different than employees....
Select the Right Health Insurance for Your Business
If you have employees, you know how important health insurance is for your benefits package. It also takes a big bite out of your budget. Selecting the right insurance for your company is extremely important for employee retention and maintaining your bottom line....
Cash Flow Concepts That Can Save Your Business
A sad and oft-repeated truth is that half of all new businesses fail within the first five years. Although many factors contribute to business failure, a common culprit is poor cash management i.e. cash flow. All businesses, large and small, must deal with the...
Basic Customer Retention Questions You Need to Answer
Your business’s ability to retain customers is one of the most important components to sustain growth and profitability. Here are the three retention questions every business owner should be able to answer: What percentage of your customers return each year? The...
Make Setting Salaries Easier With These 5 Steps
Whether you are hiring for the first time, filling an open position, or conducting annual performance reviews, finding a salary range that attracts and retains valued employees can be a difficult task. Here are some suggestions to help make the process a bit easier...
Elements of a Strategic Plan
Roughly 90% of all businesses lack a strategic plan. Yet running your business with intention ensures you get from point A to point B the most efficiently. One of the best ways to set your intentions for your business is with a Strategic Plan. If you answer yes to one...
Is Your Holiday Party Deductible?
Want to throw a great business holiday party for your employees? We all want to show our appreciation to our employees during the holidays and having a great party is one way of doing that. But is your holiday party deductible?
Can I Give a Gift to an Employee Without Tax?
Can I give a gift to an employee without tax? Gifts and bonuses are a great way to reward for hard work, so here’s how to do it tax free!
How to Improve Efficiency in Small Business
Today we’re going to talk about how to improve efficiency in small business to either help growth or help smooth out processes.