Author: llower31

Receiving a letter from the IRS can make any business owner become panic-stricken. There are nearly 75 different IRS letters and notices. It could be Notice number CP 136 if your payroll deposit requirements have changed, or CP 162 which notifies you of a penalty if your return was filed incomplete or late. The IRS… Continue reading IRS Notifications And What They Mean For Your Business

Bookkeepers are tasked with recording the financial transactions, while a full-service accountant is responsible for categorizing, reviewing, reporting, and summarizing this information. The initial organization and recording of a business’ transactions like payroll, daily sales, bills paid, and other expenses fall to a bookkeeper. However, there is no defined line where a bookkeeper’s role should… Continue reading The Difference Between a Bookkeeper And a Full-Fledged Accountant

Whether your business is an LLC or incorporated, there is a lot of room for error when you are filing taxes. From missing potential money-saving tax credits to misreporting expenses or income, any mistake of omission or commission can get you in trouble with the IRS. In this post, we have compiled a list of… Continue reading The 5 Biggest Mistakes Small Business Owners Make When Filing Taxes

Effective accounting is a quiet but key ingredient of business success. Without a rock-solid approach to accounting, even the most promising of companies can collapse regardless of how dashing their website is or how effective their products are. Poor accounting decisions often lead to hard-to-notice losses that start to drain the company slowly but surely.… Continue reading 4 World-Class Accounting Practices

Simply put, accounting is the language of business. It helps business owners keep track of cash flow, income, assets, and liabilities. It helps business owners as well as investors keep an eye on the business’ financial performance, allowing them to make wise decisions.  Another key purpose that accounting serves is to help you remain compliant… Continue reading Why Accounting is Important For Your Business

While you are focusing on critical business activities such as production, marketing, and customer service, keeping track of your budgets, receipts, and financial reports is probably the last thing on your mind. However, these full-service accounting tasks actually contribute a lot to your business growth and success. Choose The Best Accounting Method For Your Business… Continue reading 3 Best Accounting Suggestions to Make Your Business a Success

Whether you are a small business owner or you run a large organization, you will always be on the hook for some kind of taxes. However, there are always strategic ways to save on taxes as long as you operate within the laws. While your tax accounting consultant is the best source of tax-saving strategies,… Continue reading 5 Ways Your Business Can Save On Taxes

The rising post-pandemic challenges are driving organizations to re-imagine as well as rebuild their business processes. Remote accounting services are gaining popularity among businesses that want to increase efficiency and reduce their overhead expenses at the same time. Having a team of remote accounting experts will allow you to address your financial responsibilities with the… Continue reading How Remote Accounting Can Benefit Your Business