Establishing your limited liability company (LLC) in the big, bustling state of Texas offers numerous advantages. Texas features a pro-business climate and a large professional workforce, making it an attractive choice no matter your industry. But before you send your paperwork to the Secretary of State, there are some things you should know. While certain […]
Small business owners wear many hats and have a lot going on as they build their businesses. So, it’s understandable that some tasks and priorities are pushed to the side in favor of what they deem to be more pressing aspects of their work. Typically, accounting and financial tasks are among the priorities relegated to […]
Navigating the maze of federal tax requirements can be difficult for busy business owners, especially regarding indirect taxes such as excise taxes. If your business sells goods that qualify for the excise tax, you must understand the Internal Revenue Service (IRS) tax Form 720, the Quarterly Federal Excise Tax Return. In this article, we’ll explore […]
There are numerous instances where a Certified Public Accountant (CPA) can help your small business. From tax preparation, advisory, submitting your quarterly estimated taxes to the IRS, and even bookkeeping services, a CPA can take on the difficult financial tasks that tie you up and slow you down. But not every CPA and CPA firm […]
Virtually every small business owner understands the valuable services a qualified accountant can provide. Accountants can handle business taxes, tax preparation, and day-to-day operations, giving owners peace of mind so they can continue focusing on building their businesses. Many of the same business owners who see the value in using an accountant don’t actually use […]
Of all the financial tasks small business owners must address, bookkeeping might be one of the most consequential and time-consuming. Do your books right, and you’ll gain important insights into your finances that will help you make critical, time-sensitive business decisions. Do them wrong, and it might hinder your ability to compete in the marketplace […]
Business partnerships always begin with good intentions. Two friends, two family members, or two co-workers have a great business idea, each person brings something valuable to the table, and “Voilà!” You have yourself a business that will hopefully last a lifetime! With partnerships, though, there will come a point in time when one of the […]
As your business grows, your taxes become increasingly complex. Avoid the headache of complicated calculations and worrying about errors on your tax return by outsourcing your tax preparation to a professional CPA. An accountant can help you reclaim your time to grow your business. You can help your CPA prepare accurate tax filings by providing […]
It’s an understatement to say that small business owners, especially new ones, have a lot on their plates. From marketing and team supervision to managing payroll and bookkeeping, there’s much to take on. However, one of the most important things a small business owner does is ensure their taxes are paid accurately on time every […]
It is essential for taxpayers to understand Adjusted Gross Income, commonly called AGI, especially if you prepare and file your own business taxes. AGI significantly impacts your tax rate, tax payments, and potential refunds. If you don’t fully understand how taxable income is calculated, you could end up paying more or less than legally required. […]
