Did you know that by the third year of business, 44% of start-ups have folded? According to Statistic Brain, some of the top reasons this can occur include having “no knowledge of financing” as well as “nonpayment of taxes.” There is one big mistake many small business owners tend to make when it comes down […]
As tax season comes upon us, many business owners are starting to really wonder, “Do I need an accountant for my small business?” Perhaps at first they thought they could handle things, but as they started to work on taxes, they realized how far out of their element they were. These business owners are master […]
Do you have a deadbeat boyfriend or girlfriend? That’s great! At least for tax deduction purposes. “Couples who can claim their significant other as a dependent can also use them as a tax break,” ABC News reports. The claimant must also pay half, or more, of their partner’s expenses. When it comes down to it, […]
There is a good reason Americans hire more than 1 million tax accountants or small business tax preparation professionals per year. Unfortunately, filing taxes — on an individual and/or on a company level — is not necessarily straightforward. In fact, it can be far from it. Why are taxes so complicated? What do individual tax […]
Financial projections for startup companies are incredibly important for several reasons. You will need financial projections to secure financing from prospective lenders and investors, as well as to make sure your business is on the right track. Comparing actual financial statements with projections allows you to determine if your business is breaking even, falling short […]
We love hearing from our clients. “Thank you guys so much for everything. It was a pleasure doing business with everyone in the organization and it took a load off our shoulders to have such competent and professional individuals taking care of this because God know my wife hates doing it and I try to […]
It is estimated that Americans spend around $28 billion dollars a year filing tax returns in the United States. If you own a small business, that money might seem like it could be better used somewhere else; why pay someone when you could do them yourself? But the truth is that hiring a small business […]
Is this practice allowed? In the past, some employers have reimbursed employees for the cost of medical insurance the employees purchased through the individual market. The reimbursements were made pretax. In this way, the employer sought to provide health coverage to their employees without establishing a group health plan. Is this still allowed under the […]
There are approximately $5 million dollars worth of tax exemptions ready and waiting for Americans who are lucky enough to qualify for them. (That figure is up from $1 million just a few years ago.) Taxpayers have plenty of time to prepare for next season, and — with that in mind — the best tax […]
It’s Christmas in July! Retailer and small business celebrations range from simply having sales to decorating storefronts with Christmas trees and reindeer — and sometimes even snorkeling Santas. Financial risk management firms and certified financial accountants, on the other hand, celebrate Christmas in July by sharing the bizarre, and sometimes even downright twisted, money decisions […]
