Accounting, Bookkeeping & Tax Blog

Your small business resource for accounting, bookkeeping, and taxes from our experts.
home-based-business-tax-deductions

6 Home-Based Business Tax Deductions to Claim

If you’re an entrepreneur who operates solely from a home office, you can take advantage of home-based business tax deductions.  In addition to your operational expenses, you may be eligible for a home office deduction. The incentive benefits self-employed taxpayers who dedicate part of their home to running their business.  Keep reading to learn about […]

bookkeeping-101-crash-course-record-keeping-small-businesses

Small Business Record-Keeping: 3 Best Practices & Tips

A well-structured financial system is vital to your business’s success, but accurate bookkeeping and recordkeeping can be daunting. While sometimes used interchangeably, bookkeeping and recordkeeping aren’t the same. Bookkeeping is a method of tracking funds and business documents that flow in and out of your business. There are two types: single-entry bookkeeping and double-entry bookkeeping. […]

5-great-things-know-rental-income-taxes

Things You Should Know About Rental Income and Taxes

Property management can be a lucrative profession, but it’s not without its challenges. Landlords must juggle several responsibilities, which include interviewing prospective tenants, managing a diversity of tenant-related issues, and maintaining property quality. With all of that to address, it’s understandable that income taxes and deductions for rental properties may not be top of mind […]

generally-accepted-accounting-principles

What are the GAAP rules for accounts payable?

Accounting is a massive and diverse field. Accounting services can include everything from bookkeeping and tax preparation to auditing and business plan development. No single path or training is required to become an accountant, either. However, there are some grounding rules and principles that all accountants rely on in all that chaos. And there has […]

need-an-accountant-for-your-llc

Do You Need an Accountant for Your LLC?

You’ve had that Eureka moment and founded a small business to realize that vision. You’ve even made it official by forming as a limited liability company business entity, commonly known as an LLC. Congratulations! Now what? Now it’s time to consider taxes and whether your LLC needs an accountant. Because if you don’t, you could […]

bookkeeping-vs-accounting

What’s the Difference Between Bookkeeping and Accounting?

Accounting and bookkeeping are vital processes that small businesses use to ensure their financial information is accurate and complete. Bookkeepers and accountants work with financial data, and both professions require a basic knowledge of accounting practices. Because of this, small business owners might think they’re one and the same. Regardless of their similarities, the functions […]