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Read the Latest
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So your business is profitable… but is it profitable enough?
Your company is taking in more money than it spends… so it’s profitable, right? Right – but understanding how profitable you want your business to be is key to achieving success. Some people just want their businesses to produce an honest living for themselves, while...
Top Bookkeeping Tips for Small Medical Practices & Doctor Offices
When people feel sick or experience health issues, they don’t seek treatment from just anyone. They turn to healthcare professionals who have the necessary knowledge and resources to properly diagnose and treat each individual patient. Unfortunately, healthcare...
Top 3 Bookkeeping Mistakes That Cost Your Small Business Money
Everyone makes mistakes. That’s a simple fact of life. In most cases, they’re minor mistakes that cause little disruption to your business (and usually teach everyone a valuable lesson). But there’s one area in particular where mistakes are most unwelcome:...
Business By The Books
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Why Your Remote Business Should Hire a Virtual Bookkeeper
Working remotely is new for many businesses and many employees. Companies have had to adjust to new modes of working, communicating with teammates, and managing the day-to-day of their business. Like many aspects of this new world of work, employers have pivoted to...
Why Outsourcing Your Bookkeeping is Right for Your Nonprofit
Nonprofits faced more financial challenges than ever before in 2020. Shutdowns, rising demand for services, and new modes of operating have put already-strapped organizations in even more challenging circumstances. For many nonprofits, their energy is likely focused...
5 Small Business Expenses You Can Write Off Your Taxes
Small businesses qualify for tax deductions on expenses related or necessary to their business. These write-offs help decrease a business's taxable income and, subsequently, lower the amount of money owed to the government. A comprehensive bookkeeping system and...
Controlling and Reducing Expenses
Controlling and Reducing Expenses-now even more important! Earning money is hard work, but keeping that money in your pocket is even harder these days. Expenses are a part of life, but learning to control or even reduce them could save your business. Consider these...
Questions Small Business Owners Should Be Asking
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What is my growth strategy?
Many businesses and non-profits have a strong desire to grow. But, are we actually planning, preparing and pushing for growth? Have we considered our options for growth? Market Penetration Market Expansion Product/Service Expansion Diversification...
How Can I Minimize My Taxes?
Paying less tax is a great thing, but it needs to be accomplished in ways that make good business sense. Tax reduction strategies should be discussed with your CPA or tax professional as there are usually side effects or downsides. Some common strategies:...
Am I sufficiently funding my retirement?
If you read this question and say “what retirement plan”, then it is a great time to seek out a financial professional. All too often business owners: feel daily work and decisions are more pressing are counting on selling their business assume they and their...
Better Business Through Technology
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What do I need to know about IT support?
When planning for IT support it is critical to evaluate your needs across your business. All too often, I see successful businesses entrusting their IT systems to unqualified individuals or businesses. It saves them money until they have a crisis situation and...
Is Social Media a good use of my time and money?
Before we discuss social media, let’s be sure we understand how inbound marketing differs from outbound marketing. According to Wikipedia “Inbound marketing provides information, an improved customer experience and builds trust by offering potential customers...
Business By The Rules
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Employees working in other states/countries
If you have an employee who works outside of the state/country where you conduct your business – you may have Payroll tax liabilities for those locations. Transacting business in other states/countries A company conducting business in another state or country must...
Gifts
If you given gifts in the course of your trade or business, you can deduct all or part of the cost. $25 limit. You can deduct no more than $25 for business gifts you give directly or indirectly to each person during your tax year. A gift to a company that is...
Personal Use
Business Use of Car If you use your car in your job or business and you use it only for that purpose, you may deduct its entire cost of operation (subject to limits discussed later). However, if you use the car for both business and personal purposes, you may deduct...
Deductible Expenses
Business Use of Your Home Business Use of Your Car Other Types of Business Expenses https://www.irs.gov/businesses/small-businesses-self-employed/deducting-business-expenses Click Here to schedule a free consultation with Paula [gravityform id="1" title="true"...
Archived Blog Posts
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Are your books ready for year-end?
As we approach the end of the year, it’s time to start getting those files ready for your accountant. Whether you do it yourself or have been wise enough to hire a bookkeeper, this checklist should help get your business books ready for end of year for your...