Accounting

Introduction Real estate accounting can be a daunting task for beginners. There is so much to learn and understand! However, with a little bit of guidance, you can be on your way to mastering real estate accounting. In this blog post, we will provide an overview of real estate...

Hiring an accountant is widely considered best practice for small business owners.  But delegating financial analysis and reporting doesn't mean completely checking out of the process each month or quarter. On the contrary, it's recommended that business owners work closely with their accountants throughout the year to better understand their financial position,...

Are you one of those business owners who hates looking at their bank statements? If you’re in business to make money, why wouldn’t you want to look at your numbers? Have no fear: you’re not alone. Money is a huge stressor for business owners, in part because they get confused over the...

If you’ve been considering making the move to a cloud-based accounting system, you’re not alone. Cloud technology has impacted many business functions, including making managing financial aspects of your business easier and more efficient. Cloud-based accounting moves your accounting from being hosted on your computer’s hard drive to an...

Understanding Statute of Limitations on Tax Audits Nobody wants to spend their whole life looking over their shoulder, wondering if the IRS is going to audit them. Luckily, there is a statute of limitations on IRS audits and tax assessments. This time period is called the...

Receipts are vital to successfully running a business. You need receipts to track your purchases and expenses. Your clients need receipts for their tax purposes and to manage their finances. Paper receipts have been around a long time, so many people are used to them and may even be resistant to moving...

Payroll is one of those things that starts out simply enough. You start your business, hire a few employees, and things tick along pretty well. It’s straightforward enough to keep everything in line at first, but what happens to most companies is… they grow! This is a great thing,...

Introduction to Small Business Finances Importance of Managing Finances Effectively Managing finances effectively is crucial for the success and survival of any small business. Proper financial management clearly understands the company's financial health and enables informed decision-making.  Maintaining a strong grasp of...

Since 1986, lawmakers have limited business meal deductions: first to 80 percent, and then to 50 percent (unless an exception applies). But on December 27, 2020, in an effort to help the restaurant industry due to the COVID-19 pandemic, lawmakers enacted a new, temporary 100 percent business meal deduction...

In their landmark decision in the South Dakota v. Wayfair case, the Supreme Court of the United States (SCOTUS) just radically changed the sales tax landscape for online sellers. But don’t panic! This blog post will take a look at what has changed and how online sellers can determine next steps to remain sales...