Uncategorized

As the season changes and springtime approaches, it’s not just your home that could use a good cleaning. Your financial records, especially in QuickBooks, could benefit from a little spring cleaning too. With tax season in full swing and the start of a new fiscal year for many businesses, now is the perfect time to… View Article

Tax season can be stressful enough without having to worry about falling victim to tax scams. With cybercrime and identity theft becoming increasingly prevalent as more people file their taxes online, it’s wise to be vigilant and aware of potential scams targeting your personal information (and your financial well-being!) Here are the top 10 ways… View Article

About 3 out of 4 American taxpayers receive a refund each year when they file their income tax returns, but there are those who for one reason or another end up owing. Of those who owe Uncle Sam, many don’t have the means to pay what they owe by the return due date (usually in… View Article

Unlike employees, who have income, Social Security, and Medicare taxes withheld from their wages, self-employed individuals must prepay their taxes by making periodic estimated tax payments. These are referred to as estimated tax payments because the self-employed individual must estimate his or her net earnings for the year and pay taxes per IRS schedule according… View Article

For many business owners, the future is uncertain. Would you like to ensure the long-term success of your enterprise, reducing stress and providing peace of mind? That’s where succession planning comes in. Every successful business gets to that point thanks to careful planning and strategic foresight. While most business owners focus on maximizing present success,… View Article

There are some unique ways to make charitable contributions that can provide tax advantages to the donor. Before deciding about your charitable giving for the year, you may benefit from this article on ways to contribute that will help you tax-wise. Normally, deductible charitable contributions are limited by a percentage of your income, more specifically… View Article

In the digital age, online security is among the most critical factors for any business. As more and more people are living their lives online, security has become a priority for those giving up sensitive information – including financial data – via the World Wide Web. Cyber threats are evolving with alarming sophistication, making it… View Article

The U.S. Department of Labor (DOL) announced on Jan. 9, 2024, the issuance of its final rule regarding whether a worker is an employee or an independent contractor under the federal Fair Labor Standards Act (FLSA). The new rule, which becomes effective March 11, 2024, rescinds the 2021 independent contractor rule issued under former President Donald Trump… View Article

The death of a loved one is one of life’s most difficult times and a time for reflection and grieving. However, it also triggers unique financial and tax events that must be dealt with by the survivors. For a surviving spouse, this is an especially difficult time and can be devastating if the death was… View Article

One fundamental financial practice that often gets overlooked, yet holds immense importance, is the separation of personal and business finances. By maintaining distinct bank accounts and credit cards for business transactions, small business owners can streamline bookkeeping processes, ensure accurate expense tracking, and foster clarity in financial management. Importance of Separating Personal and Business Finances:… View Article