A cash flow shortage is the number one reason why small businesses fail, but even midsized and large companies need smart cash flow management to survive and thrive. Insufficient cash forces companies to make difficult decisions about who is going to get paid and when. Unfortunately, this can lead to vendors and suppliers being paid… Read More
SIGN UP FOR OUR BOOKKEEPING SERVICES BEFORE JANUARY 31ST, 2024, AND ENJOY: ◦ 15% OFF YOUR FIRST THREE MONTHS OF SERVICES! FREE FINANCIAL CONSULTATION TO ASSESS YOUR UNIQUE NEEDS! Are you ready to conquer your business goals in 2024? Start the year off right by entrusting your financial success to our expert bookkeeping services! Why… Read More
As a business owner, financial responsibilities can be complex, especially when it comes to tax obligations. One crucial aspect that often surfaces is dealing with 1099s. In this quick guide, we’ll discuss the common scenarios in which a 1099-NEC might be issued: Independent Contractors: Businesses must issue a 1099-NEC to independent contractors, freelancers, or other… Read More
Launching a new business venture in 2024? Congratulations on taking the plunge into entrepreneurship! To ensure a smooth takeoff, here’s a comprehensive checklist that will guide you through the crucial steps of launching your dream business. Craft a Solid Business Plan: A roadmap is essential. Outline your business idea, target market, competition analysis, and financial… Read More
Elevate your business with SMART GOALS. In the ever-evolving environment of business, setting strategic goals is a key driver for success. As a business owner, it’s essential to navigate the path to growth with precision. One effective method for goal-setting is the SMART criteria: Specific, Measurable, Achievable, Relevant, and Time-bound. Here’s how you can harness… Read More
Every year, most of my clients ask how they can lower their taxes. They always ask if buying a house, or buying something for work is something that they should do. Buying a house can help to lower your taxes, however, it also lowers your bank balance! Here are some examples, to put it in… Read More
Anything that you have to buy for work, that is ordinary & necessary is an employee business expense. The tax code says “An expense is ordinary if it is common and accepted in your trade, business, or profession. An expense is necessary if it is appropriate and helpful to your business. An expense does not… Read More
A client filed her own taxes on Turbo Tax, paid $29.95 for the “free” version with CA and efile. She went thru all the questions, double checked her work, and was happy with her refund of $3,421. While preparing the next year’s tax return for her, I noticed a glaring mistake… she had omitted her… Read More
Here’s a common horror story… Jane’s son Adam is 19 and still lives at home. He’s a college student, and works… you know, he takes care of himself. He’s his own man. So, he takes advice from his friend and goes to a big box tax prep place, or his buddy does his taxes for… Read More