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Does a Start-up Really Need a Professional Accountant and Bookkeeper?

Start-up vs Professional Accountant and Bookkeeper? We are living in the times where self-employment, freelancing, and small time entrepreneurship has become quite popular among young people. Many millennials and generation Z individuals prefer owning a start-up rather than being on… Read More »

Dealing with Sales Tax in the US

Dealing with Sales Tax in the US If you are doing business anywhere in the United States, then you are liable for paying local sales taxes. And for that, it doesn’t matter if your business is located within the US… Read More »

3 Benefits of Working with Form W2 Professionals

3 Benefits of Working with Form W2 Professionals It’s not easy for small business owners to make decisions about hiring full-time employees.  From bookkeeping to tax preparation, everything gets affected when a small venture even hires a single worker as… Read More »

4 Benefits of Working with Form 1099 Professionals

4 Benefits of Working with Form 1099 Professionals Working with the right workforce is crucial to the success of any business. Different studies suggest that 70 to 80% recurrent expenses of any business are associated with its workforce which is… Read More »

A Short Guide to Profit and Loss Management for Small Businesses

A Short Guide to Profit and Loss Management for Small Businesses Whether it’s the question of maintaining the operations or integrating new products and services, a business needs to do better than breakeven between Profit and Loss. In other words,… Read More »

3 Ways Entrepreneurs Can Save on Taxes

3 Ways Entrepreneurs Can Save on Taxes After evaluation of extensive data furnished by bookkeepers over the years, it was found that nearly 9 out of 10 entrepreneurs pay more than the required amount in taxes. While we all know… Read More »

Five Form 1099 Variants That Matter in Business Taxes

Five Form 1099 Variants That Matter in Business Taxes We hear about form 1099 at a certain time of the year. To begin with, there isn’t a single form 1099. They are 18 forms in total, pertaining to different entities,… Read More »

3 Financial Reports Every Small Business Proprietor Must Diligently Review

3 Financial Reports Every Small Business Proprietor Must Diligently Review When any small business picks up a certain pace, it starts experiencing a greater flow of financial information. During this time, business owners need to give attention to the given… Read More »

3 Reasons to Not Represent Your Business in an IRS Audit on Your Own

3 Reasons to Not Represent Your Business in an IRS Audit on Your Own IRS audits are part of the taxation landscape set out for commercial entities. Audits are not always evoked in order to unmask some financial corruption. In… Read More »

A Short Guide to Deal with IRS Audits

How to Deal with IRS Audits, A Short Guide to Deal with IRS Audits In one of the previous blogs, we have discussed the instances when a small business has to go through IRS audits. Here, we will extend that… Read More »

Businesses Expenses and Assets that Can Be Deduced from Taxation—Part 2

Businesses Expenses and Assets that Can Be Deduced from Taxation —Part 2 We will continue the discussion from the last blog article part 1 (Businesses Expenses and Assets that Can Be Deduced from Taxation —Part 1)and discuss some further avenues… Read More »

Businesses Expenses and Assets that Can Be Deduced from Taxation—Part 1

Businesses Expenses and Assets that Can Be Deduced from Taxation—Part 1 No one wants to give away their earnings in taxes. However, it’s the national and civic duty for every individual and business to file taxes. In fact, a good… Read More »

Form 1065: The Declaration of Partnership Income

Form 1065: The Declaration of Partnership Income Every business entity has to file a tax return through a different form. For instance, LLCs file their tax returns through different forms while a corporation has a different filing process. Similarly, business… Read More »

Dealing with an Incorrect Form W2

Dealing with an Incorrect Form W2 Have you received a form W2 that shows incorrect figures of your wage? If this happens with you just a few days before the tax-filing deadline, then you might get in trouble with the… Read More »

How to Avoid Last-Minute Pitfalls in Tax Filing

How to Avoid Last-Minute Pitfalls in Tax Filing   Many businesses and individuals wake up to fulfill their tax duties just one or two weeks before the tax filing deadline. Some people are even more reckless in this regard. They… Read More »

Tax Penalties Your Small Business Should Watch Out for—Part 3

Tax Penalties Your Small Business Should Watch Out for—Part 3 In the last two blog posts (Part 1 and Part 2), we have talked about six different types of tax penalties that any small business could face. Here, we will… Read More »

Tax Penalties Your Small Business Should Watch Out for—Part 2

Tax Penalties Your Small Business Should Watch Out for—Part 2 In this blog series, we are discussing different tax penalties that any small business can be subjected to particularly if it is not working with an experienced tax preparation firm.… Read More »

Tax Penalties Your Small Business Should Watch Out for—Part 1

Tax Penalties Your Small Business Should Watch Out for—Part 1 The tax world can turn out to be quite cruel for all small businesses if they are dealing with their returns without the help of any tax preparation firm. More… Read More »

A Short Guide to Form 1120S

A Short Guide to Form 1120S The IRS issues form 1120 for corporations so they can file federal income tax returns. They are further categorized into C and S forms for C-corporations and S-corporations respectively. Since most of the small… Read More »

Advantages of Getting Managed Payroll Services for Your Small Business

Advantages of Getting Managed Payroll Services for Your Small Business Small businesses are already fighting different battles at so many fronts that they are not often left with enough resources to deal with financial management through in-house expertise.  Firms dealing… Read More »

A Short Guide to Different Types of Form 1040

A Short Guide to Different Types of Form 1040 Form 1040 was introduced in 1913 to record the individual incomes, tax deductions, and credits on a single piece of documents. Over the last hundred years, certain new categories have been… Read More »

What Information Is Required to Fill the Corporate Tax Return Form 1120?

What Information Is Required to Fill the Corporate Tax Return Form 1120? The IRS has established a range of tax forms used by different commercial entities to file their taxes. For instance, all commercial ventures that are registered as corporations… Read More »

4 Things You Need to Know About Financial Statements Generated by Professional Bookkeepers

4 Things You Need to Know About Financial Statements Generated by Professional Bookkeepers Fresh entrepreneurs often don’t have the right idea regarding the financial statement being churned out by professional bookkeepers. Unfortunately, textbook knowledge is not of much help in… Read More »

Why Small Businesses and Startups Should Switch to Online Bookkeeping

Why Small Businesses and Startups Should Switch to Online Bookkeeping Whether it’s budgeting, future planning or tax preparation, bookkeeping has always been a part and parcel of any commercial operation. Also, the perception that fulltime bookkeeping is only a thing… Read More »

Four Reasons Why Bookkeeping for Small Business Is Also Essential

Four Reasons Why Bookkeeping for Small Business Is Also Essential Gone are the days when expert bookkeeping was exclusive to large businesses and conglomerates. Now, it has become part and parcel of every commercial operation regardless of its size. If… Read More »