When you're working in the business world, one of the most important aspects is being able to manage and access your data at all times. For example, let's say that you have an accounting system on your personal laptop, and that's the only device where it's available. While that may seem like a convenience to [...]
Before remote services were readily accessible online, businesses were limited to their local areas for bookkeeping and tax services. Sometimes this meant hiring in-house year round and/or going to a local CPA for yearly tax preparation. Times have changed since then, but businesses can use this to their advantage. We'll discuss this more as we [...]
The effects of a disaster are especially noticed by small business owners, who may struggle keeping their doors open after a fire or flood. In fact, the U.S. Department of Labor estimates that 40 percent of all businesses affected by a disaster never reopen their doors. A good number of the remaining 60 percent [...]
Not all businesses have the same needs when it comes to AP/AR, yet all have the opportunity to streamline these processes to save time and money. Innovative cloud technology is giving businesses (of all sizes) the ability to simplify these processes; outsourcing professional accounting services optimizes these technologies, making them work for each unique business. [...]
Not only can your personal life get busy this time of year, but running a business can also become more hectic. Many people struggle more than they need to, simply because they do not know how outsourcing accounts payable and receivable saves you time & moneyduring the holidays. Perhaps you have never took time to [...]
When an individual itemizes deductions, one of those deductions is the cost of medical and dental expenses, including health insurance premiums. However, the medical expense deduction has been historically limited to the amount that exceeds 7.5% of a taxpayer’s adjusted gross income (AGI). With passage of the Affordable Care Act, commonly referred to as Obamacare, [...]
A frequent question that arises is: Can I deduct the cost of my work clothing on my tax return? The answer to that question is “maybe.” The IRS provides the following guidelines for when expenses for work clothes are deductible: 1) They are worn as a condition of employment, AND 2) The clothing is not [...]
If you are a divorced or separated parent with children, a commonly encountered but often-misunderstood issue is who claims the child or children for tax purposes. This is sometimes a hotly disputed issue between parents; however, tax law includes some very specific but complicated rules about who profits from the child-related tax benefits. At issue [...]
Many small business owners recognize the importance of hiring a CPA, yet underestimate how essential it is to choose precisely the right one. If you would like to know how to find the perfect CPA for you, a good way to start is by ensuring you avoid some of these very common mistakes. Mistake [...]
How do you know when you've found the perfect CPA for you?What does that even mean? Finances are so important in our current economy and life in general. We work hard for our money and when we have the opportunity to invest and watch that hard work multiply, the thought of making a poor [...]