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4 Key Elements of Great Business Books

Your bookkeeping system is the financial heart and lifeblood of your business. When set up and operating properly, your books help you make smart decisions and seamlessly turn your financial data into useful information. Here are four key characteristics to build and maintain a healthy bookkeeping system: Select the proper accounting method There are two […]

Watch Out! 7 Vacation Costs That Sneak Up on You

Going on vacation is a time to get away, relax and enjoy new experiences. But if you don’t pay close attention, extra costs can sneak up on you like tiny money-stealing ninjas. Here are seven sneaky vacation costs to watch out for: Covert airfare increases. Airline pricing algorithms are programmed to store your browsing history to […]

Al Capone, Aunt Becky, Tax Fraud and You!

How you can learn from high-profile tax scandals The recent college admission scandal involving Lori Loughlin (who played Aunt Becky in the Full House TV series) and others is shedding light on just one way people allegedly cheat on their taxes. Here are examples of some famous people in tax trouble with the IRS and helpful hints […]

You Know You Need Tax Planning If…

Effective tax planning helps you make smart decisions now to get the future outcome you desire — but you need to make sure you don’t miss anything. Forget to account for one of these situations and your tax plans will go off the rails in a hurry: Getting married or divorced. One plus one does not […]

Owe Taxes? What Went Wrong in 2018 and How to Survive It

The 2018 tax filing deadline came and went. Whew! But for some Americans, the tax headache has just begun. This year was the first filing under the Tax Cuts and Jobs Act and while some taxpayers saw larger refunds others received a rude awakening. If you’re reeling from a large tax burden, this article is […]

Art of Accounting: Anything less than a 10 is an F

It goes without saying that your accountant should have a keen understanding of who pays you, who you pay and how to maximize your returns on investments. Because your accountant is so intimately involved in assisting with your financial decision-making needs, the relationship should be one that is built on a foundation of trust and transparency. However, […]

How Outdated Accounting Is Costing You More Than Money

Accounting is one of those disciplines that without fail, a lot of people associate with old traditions and endless paperwork. Although accounting is very similar to technology and other fast moving disciplines. Changes in governance, reporting requirements and business acumen mean that outdated accounting could be costing your business a lot more than you realise. […]

What are the most prevalent start-up bookkeeping mistakes?

Start-ups succeed – or fail – based on their cash flow. If your start-up spends all its initial capital and can’t pay the bills or make payroll, then it’s going to be bankrupt This is why getting bookkeeping right is so crucial. It might not seem like a very exciting area of your business – […]

Can your business take advantage of the new TCJA income deduction?

Tax reform represents the largest change to the tax code in 30 years, and impacts virtually everybody — including business owners both small and large, who are still working to untangle the qualified business income deduction. The new deduction is one of the biggest complexities in the Tax Cuts and Jobs Act and as tax […]

5 smart tax moves you can still make for your 2018 return

The filing deadline is April 15, but it’s not too late for some savvy strategic moves With the April 15 deadline for filing your 2018 Form 1040 only a few days away, it’s still not too late to make some moves that will save taxes on last year’s individual federal income tax return. And maybe […]