As summer winds down, your business’s financial statements may be due for a quick check-up. Here are several review suggestions to help determine the health of your business prior to year-end. Balance sheet reconciliations. Reconcile each asset and liability account every quarter. A well-supported balance sheet can guide decisions about cash reserves, debt financing, inventory management,… Read More
With the increased popularity of working-at-home, you may consider moving to one of the nine states that don’t impose an individual income tax. Before doing so, you should understand how each of these states raises its revenue. And then consider how you can reduce your tax obligation in your current home state. Here’s some help.… Read More
If you are concerned about protecting your valuables, here are several suggestions to consider for protecting them from would-be thieves: Rent a safe deposit box. It may make sense to keep seldom worn jewelry, coins and other important documents in a traditional safe deposit box at your local bank. But beware if you go this route,… Read More
How to Shield Your Money From Inflation Recent high inflation rates are driving up the price for almost everything and eroding the value of your money. With varying opinions on the potential duration of the current inflation surge, it’s important to understand the causes and how you can protect your money. Possible causes of this… Read More
A recent survey by the National Federation of Independent Businesses (NFIB) found that many companies are struggling to attract and retain qualified workers. While some businesses have countered this shortage of workers by raising hourly rates to record levels according to the NFIB, other businesses don’t have the financial flexibility to do this. If you’re… Read More
Summertime means the 2020 tax filing season is firmly in the rearview mirror for millions of Americans. But summertime is also the season when the IRS sends letters to unlucky taxpayers demanding more money! If you receive a notice from the IRS, do not automatically assume it is correct and submit payment to make it… Read More
A checking account at one bank is the same as a checking account at another bank, right? Well, maybe not. In fact, according to the J.D. Power 2021 U.S. Retail Banking Satisfaction Study, now 41% of people do all their banking online. This is a pretty big shift from traditional banking. After reviewing the financial… Read More
Tips for enhancing your digital privacy Companies are following your every move. When you have a cell phone, they are tracking what apps you use, where you go, who you talk to and more! Other smart devices listen to your conversations in your home, keep track of what you view on your TV, and report… Read More
Tracking your miles whenever you drive somewhere for your business can get pretty tedious, but remember that properly tracking your vehicle expenses and miles driven can lead to a significant reduction in your taxes. Here are some tips to make the most of your vehicle expense deduction. Keep track of both mileage and actual expenses. The… Read More
The first advance payment from the newly expanded child tax credit was recently sent out by the IRS. Payments are scheduled to be made on the 15th of each month through December. Here’s what you need to know about the child tax credit and the advance payments. Background For the 2021 tax year, an expanded… Read More