Plan Ahead..Tax Time is Just Around the Corner!

Business owners, do you really need to keep all those receipts? The short answer is YES. The long answer isβ¦ As a small business owner, you make tons of purchases for your business. If you are like me, you make them all with a debit or credit card because, after all, who uses cash in…
Often overlooked, receipt keeping is a necessary component of good bookkeeping. Receipts are the primary and easiest way for a business to support all entries recorded on the books and on tax returns. Should the IRS audit your business’ tax return, they will require supporting documentation showing not only the amount paid but a detail…
Ever wonder why some small businesses pay far fewer taxes than others? It all comes down to expenses, deductions, credits, and documentation. Here are some important tips to help you maximize your small business deductions and only pay what you NEED to… Tip #1 Keep detailed records of all ALL expenses. This means always ask…
Is your bookkeeper working with you to maximize your tax write-offs? Is she helping you to reduce your company’s tax liability? Is he pushing you (nagging) to get him the documentation that he needs to document EVERY POSSIBLE expense your company may have? Ask yourself the following questions….. 1. Does your bookkeeper provide suggestions on…
As a business owner, unless your business is accounting, bookkeeping is normally the last item on your to-do list. But is ignoring your company’s finances wreaking havoc on your business? According to an Entrepreneur Magazine article, “Entrepreneurs who hire accounting help usually discover they weren’t doing nearly as well on their own as they thought…
Running a small business can be overwhelming. Boy, do I know the feeling! Are you the owner, the manager, accountant, human resources director, compliance department, janitor, salesman, and IT guy/gal all in a single day? Yep, I’ve been there and so have my clients. When you’re first starting out, it seems like a no-brainer that…