With the partial government shutdown last month and the possibility of another shutdown looming, there has been a lot of talk about the IRS and filing taxes for 2018. Regardless if lawmakers pass a budget in the coming weeks and keep the government open or not, tax laws remain in effect and deadlines stay the…
How to Save More in 2019 Many people in their retirement years have regrets about not saving more during their earning years, but you don’t have to be one of them. All you need to do is be realistic and proactive about saving. It’s all about paying your future self. When you are decades away…
Emil Abedian discusses his thoughts on the potential rise of IRS audits of S corporations in his guest post on Forbes. As a CPA with over 10 years of experience in the accounting industry, I’ve found that while no two businesses are the same, one major draw for shareholders incorporating a business with an S…
2019 is right around the corner, which makes today the perfect time to think about your business goals and where you want to be one year from now. As year-end wraps up, you’ll soon know your financial numbers for 2018. You’ll then be able to evaluate how you did and map out a new plan…
With the holidays approaching, this is the perfect time of year to take a moment and reflect on all of the things we are grateful for. Being grateful may sound a bit trite, but it’s also the number one, hands down, fastest way to a more positive life. Gratitude can reduce stress, increase the amount…
The New 20% Small Business Deduction There is a new 20% small business deduction that everyone is talking about. In the tax and legal professions, it’s know at Section 199A. Here are some facts about this deduction: The Basics All pass-thru entities, such as Sole Proprietors, S-corporations and Partnerships that qualify may be able to…
Internal control is a very special phrase in the accounting profession. Tactically, it’s the set of processes that help a company produce accurate data throughout the organization, follow reporting requirements and laws, and maintain consistency and accuracy in its operations. Strategically, it’s an entirely new way of thinking and doing business. Internal control helps to…
Optimize your marketing spend to get the most for your money. One of the most important success factors of small businesses is the ability to generate revenue, and to do that, most businesses need to market their services and products to bring in new clients and sales. The challenge for a small business…
Do you know how long you are supposed to keep documents? Do you know when it’s safe to shred? Having this knowledge is the first step to good recordkeeping. By following these guidelines, you can keep your documents and files organized and updated. Avoid keeping things you don’t need – or discarding something you should…
The 10 Biggest Cracks in Your Accounting System The last thing most entrepreneurs want is for their hard-earned dollars to go down the drain because of a money leak in their business. Since so many entrepreneurs are working harder than ever before earning their living, it just makes sense to shore up every profit leak…
