Working With A Tax Preparer: What You Need To Know

Working With A Tax Preparer: What You Need To Know

Tax season can be a stressful and overwhelming time. Sitting down with your tax preparer should bring you answers, solutions, and an understanding of your financial being. Before setting foot into your tax preparer’s office, ask them what you should bring. This will ensure you have everything

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What Are Your Accounts Payable And Accounts Receivable?

Let’s talk about the difference between accounts payable (A/P) and accounts receivable (A/R). It’s easy to get these two confused, but they’re important components to your books. They’re the primary indicators of the financial health of your company, which means they’re constantly changing to keep up with

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Is Your Purchase An Asset Or An Expense?

First things first, what is an asset? An asset is a resource that your company owns that is used for a function of your business operations. It can be something tangible (vehicle, furniture, equipment, etc.) or intangible (goodwill, intellectual property, patents, etc.). Assets will always have a

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How To Keep Your Business Safe From Fraud

An important part of running a business is keeping it safe. This includes from fraud. Simply put, it’s best to remain cautious. If it doesn’t feel right, it probably isn’t. Be smart with who you share information with and why. Here are five easy ways to combat

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Updates To What’s Deductible This Year

New year, new rules on deductibles. Before you sit down to work on your taxes (or with your accountant), remember that some of the deductibles revolving around meals and entertainment have been UPDATED. We want to keep you up-to-date with the most recent information possible. Use the

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Who Gets a 1099?

With tax season in our midst, it’s time to get it together and figure out who needs to be issued a 1099.  These are to be sent out each year by January 31st. It can be kind of confusing to figure out who to issue a 1099

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Your Record Retention Questions Answered

By: Rachel Raupp Keeping files for your business is a necessity. The papers stack up fast and seem  to form mountains around you. Although you need this information on file and sometimes at hand, it’s normal to catch yourself wondering when you’re allowed to pitch everything. If

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