Mar 26 Small Business Accounting Services – What to Know Before You Look When looking for small business accounting services, there are a few things you need to determine before you start looking. First, small business accounting services can come in all shapes and sizes, so you need to determine what exactly you need and want. Do you need simple data entry with no regard to accuracy? Do […] Read more
Mar 19 Top 5 Mistakes To Avoid When Choosing Small Business Accounting Services I see it all the time…small business owners making mistakes when choosing small business accounting services. In the life cycle of a business, it makes sense to outsource your accounting and bookkeeping when you reach a certain point. When you start your business, you have some extra time to do the accounting, and this makes […] Read more
Nov 01 5 Business Tax Planning Ideas To Ask Your CPA About Before Year-End If your CPA has not approached you yet about year-end tax planning, you may have to approach them to get the ball rolling. Here are 5 tax planning ideas to bring up that could save you some money… -New 20% deduction – many businesses will qualify, but many won’t. This is especially true for service […] Read more
Oct 22 Do You Have a “Qualified Business” for the Angel Investor Tax Credit? In 2013, South Carolina passed the High Growth Small Business Job Creation Act, otherwise known as the Angel Investor Act. This Act allows angel investors a South Carolina state tax credit on up to 35% of its qualified investment in a “qualified business.” From an investor standpoint this is a great deal…and it is a […] Read more
Oct 17 A Simple Way to Spot Issues in Your Financial Statements Most CPA’s seem to start with the assumption that a business owner should know how to read a financial statement. When a client has a question about their business or cash flow, a CPA’s typical response is “well, you need to review your financial statements each month.” I’ve worked with enough business owners to understand […] Read more
Oct 08 You May Now Get The Lucrative 20% Pass-Through Tax Deduction Under the Trump Tax Law, certain service businesses were excluded from the new 20% Pass-Through Deduction. More specifically, businesses that make more than a certain amount of income, and were in the following fields: health, law, accounting, actuarial science, brokerage, financial services, performing arts, athletics, consultants, AND any other trade or business where the principal […] Read more
Oct 05 Uncovering Customer Needs & Wants When you are in business, it’s understandable that you want to make sales. You have to make sales to make a profit and pay your employees, overhead, etc. Most customers, when they come to you, have certain needs. In our case, it might be a tax return or accounting, or an audit, for example. And […] Read more
Oct 03 Quickbooks 2019 Tutorial – How to Easily See How Fast Clients Pay I put together this Quickbooks 2019 Tutorial to show you how to pull up a pretty cool report in Quickbooks to see how long it takes for your clients/customers to pay you. This is a really important metric to track in your business, as it directly impacts your cash flow. Not paying attention to this […] Read more
Sep 30 The Foundation for Effective Tax and Business Planning is… If you are a business owner, there is one basic thing that is essential for effective tax and business planning. Is it some crazy secret only us CPA’s know about? Are you ready for it? It’s good Accounting (or Bookkeeping, Recordkeeping, or whatever you want to call it)! Is this a secret? No… Is it […] Read more
Sep 25 The Quickest Ways to Go Out of Business Most entrepreneurs love sales. The more sales the better. They use words like scale and velocity and other fancy terms for growth. But in the “real” day-to-day world of starting and running a business, sales are sales, no matter what you prefer to call them. And chasing sales for sales sake is a sure-fire way […] Read more