If you’re a small business owner, you know how valuable your time is. You want to approach tax season feeling confident about your business tax compliance, not worrying about time-consuming return prep and potential tax penalties. This guide will help you understand how – and when – to prepare for your business tax return filing. […]
The entity you choose can have serious implications for you and your business, including taxes, raising capital, and personal liability. Selecting the right entity has numerous benefits and can make a positive immediate impact. For example, small business owners who select their optimal entity can cut their tax burden in half in their first year […]
Ensuring your business is firing on all cylinders and moving in the right direction can be incredibly challenging, especially when you have partners. That’s before you attempt to navigate mountains of complex financial work, including Form 1065 the US Return of Partnership Income, that can get in the way of building your business. If you […]
Partnering with vendors is an important part of being a small business owner. One aspect of working with vendors is making sure you’re complying with applicable state and federal tax rules. Similar to employees having a set of tax rules that business owners must follow, vendors have their own set of rules that owners are […]
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 […]
