Is something off (performance worse than usual) in your business? Review the below list of challenges to assess your business: The Organization’s ability to continue (e.g., pay creditors, rent, payroll, etc.) as a going concern is doubtful. Flaws in your business’s operation like bottlenecks in...
Are you aware that CEOs of Fortune 500 companies hire people smarter than them? One common myth about owning a business is that you can operate it alone. Consider how a CPA can help your business increase in value: Blended roles as an outsourced team member....
It is that time of the month whereby we delve into our household or business operations. Let us also be practitioners of good money management and self-assessment tax compliance. We can reach many milestones together using the below suite of services, Business and Accounting Solutions...
The United States Department of the Treasury expects taxpayers to “pay no more than the correct amount of tax.” It is plausible that the Internal Revenue Service (IRS) receive declarations such as easier said than done, I did not know I could not deduct that expense, my...
The 2020 tax season ended on July 15. However, the tax year is in full effect. Most taxpayers account for their self-assessment tax obligation within a calendar year (e.g., January - December). Below are a few suggestions (limited scope) on how to prepare for the...
Studies show that it takes time (e.g., at least 2 months) to form a habit and takes longer to break a habit. An entrepreneur is exposed to many new concepts within his/her/they journey within the free enterprise system. Most entrepreneurs are familiar with the requirements...
Do you feel like “the hardest thing to understand in the world is the income tax (Albert Einstein)?” Yes, federal and state income tax laws are complex. Taxation in the United States of America (and internationally) is ever-changing. As you pursue meeting your tax obligations,...
The upcoming tax season is rapidly approaching. Despite the shifts in Washington D.C. (and possible updates to the Internal Revenue Code), managing your tax records throughout the year is a best practice. Consider the below action items as you deal effectively with your tax records: ...
Collect. Organize. Preserve. Evaluate. Records are a by-product of your business activity. Undeniably, the accounting of business activities takes time and willpower. You may feel overwhelmed by the requirements of your regulatory agencies. Keep in mind that knowing how you have contributed to the economy...