Accounting Archives

3 Things You Need to Remember About Profits

By Tim Berry | Feb 24, 2016

Are you a small business owner? Are you looking to start your own business? The politicians can misunderstand profits, and so can the general public, but you’d better not. Profits are good, not bad; but your business runs on cash, not just profits. 1. Profits are an accounting concept, not actual money. Yes, they lead…

A CPA’s Real Job

By Dawn Fotopulos | Feb 4, 2016

CPAs think their important job is to complete and file clients’ taxes during tax season. If you’re a CPA or bookkeeper, the most important job is to help your clients build profitability, cash flow and terminal value. Most small businesses never get there. They sell a new client, do some work, get paid for it…

4 Warning Signs That Your Small Business Needs an Accountant

By SmallBizClub | Jan 5, 2016

Sooner or later, your business will need to take that all-important step from financial self-management to bringing in some expert help. Many business owners choose to do their own accounts for as long as possible, and this can work out just fine. However, poorly managed finances can lead to some nasty surprises, so it’s important…

Special Tax Concerns for Cash Businesses

By 1800Accountant | Nov 18, 2015

Many small businesses do some or all of their transactions in cash. This raises some special issues and concerns. Technically, being paid in cash doesn’t make a difference in terms of income taxes; cash transactions are reported as any transactions by check, credit card, or electronic transfer. However, there are some unique issues that those…

5 Small Business Bookkeeping Tips for New Business Owners

By 1800Accountant | Oct 27, 2015

Raise your hand if you absolutely love handling your small business bookkeeping requirements. There sure aren’t many hands up—and that’s pretty common. Documenting all payments, expenses, deposits, and withdrawals can make your head spin. The good news is that there are some easy ways to simplify this process. Consider these small business bookkeeping tips for…

2015 Midyear Tax Tips: What Tax Moves to Make Now

By 1800Accountant | Jul 27, 2015

While it may seem like New Year’s Day was just the other day with the giant ball falling in Times Square, we’re already halfway through 2015. Whether you’re an individual with a W-2 job or a self-employed small business owner who earns 1099 income, now is a good time to review your current tax and…

Starting a Business? 5 Things You Must Know

By TaxConnections | Jul 10, 2015

Starting a new business is an exciting, but busy time with so much to be done and so little time to do it in. And, if you expect to have employees, there are a variety of federal and state forms and applications that will need to be completed to get your business up and running

6 Essential Financial Tips for Small Business Owners

By SmallBizClub | Jun 25, 2015

It is universally agreed that doing taxes is everybody’s nightmare, particularly for small business owners. While average people don’t have to worry about them until the next year, small business owners usually have to make tax filing on a quarterly basis.

6 Tips for Taxpayers Starting a New Business

By TaxConnections | Jun 10, 2015

Anyone starting a new business should be aware of his or her federal tax responsibilities. Here are several things you should know if you plan on opening a new business this year.

5 Tasks to Outsource

By ScheduleBase | Mar 10, 2015

Are you like many business owners who struggle to hand over control of a task by outsourcing it? You’re not alone. Yet outsourcing tasks to others can have a powerful impact on your company’s bottom line.