Are you a procrastinator? Maybe you’re overwhelmed and don’t know where to begin? Let’s just say you shouldn’t wait until tax time to work on your business books. I strongly suggest you make it a weekly task on your calendar so it becomes a habit. Plus, you’ll be able to see reports about the financial…
I’m guessing if you’re here, then you most likely own a business or are thinking about starting one. In either case are you ready to modernize, automate and make your life a little easier? Yes? Here are 7 easy apps to help simplify your small business finances. Disclosure: This page contains affiliate links to products…
Are you a small business owner and a digital nomad? Then it’s time to start to invest in your retirement. Get the tax benefit now. Save for later and grow your net worth. It’s all a win-win, right!?!?! How exactly do you multiply your net worth while also reducing your current taxable income? Invest in…
Do you want to write off business meals? You’re not alone. Thanks to a new law enacted December 27, 2020, new IRS regulations, and a new IRS notice (yep, all three are new), you have fresh opportunities to deduct 100% of your business meals. For 2021 and 2022, you can deduct 100 percent of your…
Did you already miss the tax filing deadline? The time to get going is now. Here are three reasons why you shouldn’t file your tax return late. No joking around here. You need to get on this now. Don’t wait. Don’t delay. Don’t procrastinate. The time to file your return is NOW! Why? Because three…
Are you a parent? Did you receive a little extra in your bank account? This is the first time the child tax credit is being paid out on a monthly basis. But there are some important things you should know about the child tax credit 2021. Let’s dive in. First, let’s review the 2020 child…
Every business has a legal name regardless if it’s simply your own legal name or a separate name registered with the state. However, a DBA or “Doing Business As” is a name that is separate from the legal name of the company. A DBA can also be called a trade name, assumed business name, or…
IRS audit. These are the words most of us would prefer to avoid if at all possible. Am I right? Here are 7 red flags to help you avoid an IRS audit. An IRS audit is an examination or review of information and accounts to ensure you’re reporting things correctly and following the tax laws.…
Are you self-employed? If so, how do you know which business expenses you can deduct? Do you ever worry about raising a red flag on your tax return? It’s not always easy to determine which business expenses to write off. Let’s review the different types of business expenses and how you can deduct the most…
Whether you’re new to owning a business, new to bookkeeping, or just want a refresher, there’s a lot to be said for exploring bookkeeping strategies to help your business. Successful bookkeeping strategies include any practice that allows your business to: save time or money, complete bookkeeping tasks more efficiently, mitigate the stress associated with estimated…