Category Archives: Business Bookkeeping / Accounting

3 Common Mistakes Small Businesses Make: Mistake #2

The first mistake, not saving receipts for purchases, can really trip up a business when it comes to tax time and deductions. The second mistake can creep up on a business owner without them realizing the problems they are causing. … Continue reading

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3 Common Mistakes Small Businesses Make: Mistake #1

Managing your finances is an integral part of your business. Continue reading

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New IRS Guidance for Nonprofits About Tax Treatment of Cell Phones Available

New Internal Revenue Service (IRS) guidance describes how employers can handle the cost of cell phones they provide to employees. The guidance, found in IRS Notice 2011-72 and the Sept. 14 memorandum to field examiners, “Interim Guidance on Reimbursement of … Continue reading

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Time to Start Thinking About Taxes Again

You may have already filed your taxes for this year and consider it all a distant memory. But don’t close the books on your taxes yet. Now is a perfect time to do some small business accounting and tax planning … Continue reading

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Financial Services Your Small Business Needs

Without proper financial record-keeping and reporting, it is difficult to tell exactly how successful your small business is. It’s also hard to tell where your business needs to improve. There are key accounting and bookkeeping services that a small business … Continue reading

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Accounting Accuracy for the Survival of Your Business

Small business accounting hurdles are scattered everywhere and failure to clear virtually any of them could cripple your business. Not being able to handle taxes and acquire banking loans could spell disaster for your business. Here’s why: Taxes Properly handling … Continue reading

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High Income Tax Bill? Don’t Gripe, Count Your Profits!

We often hear grumblings this time of year about how high their income tax bill is. Sometimes, it seems to us that people would rather make less money than to have to pay taxes. We believe this is the wrong … Continue reading

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Small Businesses Need to Keep Their Financial Systems Up-to-Date

Customers are flocking to your small business and you’ve been able to pay all your bills. Things are going great, right? From an outward appearance, it may look like you are on Easy Street, but is that what your financials … Continue reading

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How Small Business Should Handle Tax Notices – First, Don’t Panic!

The last thing you want to see in your mailbox is a thick envelope from the IRS. Refunds come in thin envelopes, not much larger than the size of a check. Tax notices arrive in thick envelopes. One of our … Continue reading

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Why Worry About Accounting?

Understanding how your business functions financially is often one of the most overlooked, yet important functions of being in business. However, with all tasks of getting a business up and running and making sure it continues to thrive, it’s easy … Continue reading

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