Starting a business can be equally exciting and stressful. Before you can get your business up and running, there’s much to consider regarding small business accounting and taxes. Ideally, a CPA (certified public accountant) tax accountant could handle everything from the initial EIN filing to business tax preparation on your behalf, so you can focus […]
What Is the Inflation Reduction Act? After another round of intense negotiations, Congress passed an ambitious $739 billion spending bill to address numerous issues within health care, taxes, and climate. The Inflation Reduction Act represents a major victory for President Biden’s administration. The Senate passed the Inflation Reduction Act through the budget reconciliation process, requiring […]
Nothing may be more rewarding than laboring all day to clean up a messy house and then seeing how sparkling and new it looks after this hard work. While house cleaning service providers may get this nice dose of satisfaction, they are still like all self-employed professionals who get hit with countless taxes and IRS […]
As a small business owner, you should never overlook your accounting needs. Learning the financial accounting basics is essential, regardless of industry or entity type. There are accounting basics and terms which are helpful to know as your small business develops and can help you understand the most critical financial concepts. Here are the financial […]
Congrats on the new business! As a new small business owner, the world is full of opportunities. It’s time to take action, develop your product, and show your audience what they’re missing. Before you do any of that, however, you’re going to need to write a business plan. Whether you’ve just started a small business […]
What does it mean to have a 509(a) status in the United States? What provision does the law offer, and which government agency grants this distinction and oversees them? Organizations that are classified as 501(c)(3) tax exemption status are further classified by the government as one of five types under section 509(a) of the Internal […]
As a small business owner, you’re accustomed to wearing many hats. It takes a lot of energy and resources to keep your business running smoothly. Small business accounting is a lot to take on for a single person. It can quickly become overwhelming when you consider complex needs for filing taxes, processing payroll, and day-to-day […]
Have you been dreaming about starting your own business? That’s wonderful! Becoming an entrepreneur can be an exciting and fulfilling journey. But where do you start? There is a lot to think about when establishing your new business. One of the first steps for many business owners is setting up their business entity. What is […]
Petty cash can cause difficulties with small business expense tracking. This article blog discusses common issues from manual handling to fraud, offering to manage expenses. Keep reading as we introduce a game-changing solution to streamline your financial operations, improve control, and reduce the risk of fraud. Don’t let small expenses become bigger problems. Here are […]
When a loved one or relative passes away, they may leave behind an inherited IRA. As the beneficiary, you may be the recipient of either an inherited Roth IRA or an inherited traditional IRA. Different timelines can affect beneficiaries. Beneficiaries also have rules for handling an inherited Roth IRA or an inherited traditional IRA. Here […]
