There are many tax scams out there with the purpose of stealing your identity, stealing your money, or filing fraudulent tax returns using your private information. Tax scammers work year-round, not just during tax season and target virtually everyone. Stay alert to the ways that criminals pose as the IRS to trick you out of…
Taxes for the individual can often be onerous, but when you have a business or company involved, the tax situation can be downright frustrating and confusing. The tax laws seem to change with each passing year, and one year there may be a benefit to you, but the next it is gone and replaced with…
Hiring your child to work as a legitimate employee is a great tax strategy, which got even better with the Tax Cuts and Jobs Act. Starting in 2018, the standard deduction nearly doubled, from $6,350 to $12,000, meaning under the new law, your child can shelter almost twice the wage income without paying income taxes. …
Owning and running a law firm of any size can be challenging. At any given time, you could be working with many clients, attorneys, and other staff, creating billing hours, cycles, or more paperwork than you ever thought you would see. It is a good thing that your firm is busy, but you may find…
When you pay a bill in your business, are you 100 percent comfortable that the bill payment is correct and justified? Is there ever a chance that a bill is fake or fraudulent? What about duplicates? With so many fake bills being mailed to businesses these days, it makes sense to think about controls you…
You know you need vendors you can rely on. No matter what your industry is, no matter the kind of product or service that you offer, you have to be able to trust the people who work with your business. If your delivery people aren’t up to snuff, or if your telecommunications provider can’t get…
As an entrepreneur, you likely place a high value on freedom. When the word “budget” is mentioned, you might cringe and feel like it hampers your freedom. But it’s really the opposite. Here’s why. According to a 2019 article in Small Business Trends, “Startup Statistics – The Numbers You Need to Know,” 82 percent…
Can you believe that half of 2019 is gone already? That means it’s a great time to take stock of how your business has done for the first half of the year so that you can meet your financial goals for the entire year. Evaluating your business is a crucial part of it’s prosperity and…
In the eyes of pop culture (and most people) bookkeeping is frozen forever in images from years ago: physical ledgers, tiny numbers written in pen, red ink, black ink, and the like. Today, virtual bookkeeping makes bookkeeping not just easier, but more efficient. It can help businesses in many different ways that traditional, physical bookkeeping…
There are firms that offer business management. There are firms that offer tax preparation. Here at Abedian + Totlian, we offer both and so much more. Our business management in Glendale area seeks to build on the foundation you already have with your business. We do this by working with you. Indeed, our firm is…
