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8 Tips for Setting Up Your Business as an LLC 

8 Tips for Setting Up Your Business as an LLC 

Starting and running a small business can indeed be hard. However, it is encouraging to recognize that every big business started as a small enterprise. A critical step is setting up your business using the right legal structure.   Why it is Critical to Choose the...

7 Tax Filing Deadlines for Small Businesses  

7 Tax Filing Deadlines for Small Businesses  

Business taxes are certainly complicated, so it makes great sense to get professional accounting and tax preparation assistance so that tax returns are prepared correctly, and they are submitted to meet tax filing deadlines. Meeting tax filing deadlines is critical to...

What Are Contingent Liabilities? 

What Are Contingent Liabilities? 

As renowned investor Warren Buffet has stated, “Accounting is the language of business.” Thus, it is critical for business leaders to get the “language” right. That includes properly and accurately recording, reporting, and acting on an organization’s financial...

Financial Forecasting for Small Business Growth

Financial Forecasting for Small Business Growth

One of the most important tasks of a small business owner is planning for the growth and stability of the business. The best way to do this is with financial forecasting, which is the process of predicting your company’s performance. This is done by considering the...

4 Things Not to Do When Your Business is Audited

4 Things Not to Do When Your Business is Audited

Most of the time, small business returns are not audited. However, in recent years, the IRS has gotten more active. In November 2021, the IRS announced that audits would increase by 50% in 2021. In August 2022, the Inflation Reduction Act was passed, which included...

Things to Know About Small Business Payroll

Things to Know About Small Business Payroll

Due to the size and demands of the company, larger corporations have separate departments to handle processes including inventory management, bookkeeping, budgeting, payroll, and more. However, business owners learn quickly that they are limited with time and...

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