As a small business owner, you probably think about tracking expenses and keeping up with tax deductions, but these aren’t the only critical accounting tips you should know. Whether you’ve been in business for a while or you’re a new start-up entrepreneur, read on for our 8 best accounting tips. 1. Outsource your bookkeeping. For […]
General Information
5 Common (and Costly) Payroll Errors and How to Avoid Making Them
Payroll is one of the most important aspects of any business, but when it’s running smoothly, business owners don’t tend to think about it much. However, when there’s a payroll glitch, it jumps to the forefront of an owner’s mind. Here are several payroll mistakes that can cost you a bundle — and how to avoid […]
Payroll Troubles & The Work from Home Revolution
Facing the pandemic, an estimated 40 million U.S. employees were suddenly granted an opportunity to work from home. Ever since, employers have been trying to figure out ways to get them back into the office! Naturally, conflict ensues. Strongly worded emails are dispatched, birds are flipped, chairs are tossed, tissues expended — everyone resigns. Fast-forward […]
Review and Rebalance Your Prior Year Returns
Carrying out a post-tax season review of your income tax return can be very helpful way to gain new insight into your financial situation. It’s a bit like looking at a familiar place from a different and fresh perspective — you never know what you might discover. See what a review of your federal income […]
Treatment of Business Expenses Paid with PPP Loan Funds
In December 2020, Congress passed the Consolidated Appropriations Act, 2021. The Act includes the COVID-related Tax Relief Act of 2020, which provides for the full deductibility of business expenses paid with PPP loan funds. A Refresher: What are PPP Loans? As a reminder, the Paycheck Protection Program (PPP) is a Small Business Association (SBA)-backed loan […]