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The New Year can be a great time for reflection and goal setting for all of us. If you own a small business, the end of the year is a time for review and preparation, which can get pretty hectic and stressful. As the month of December quickly comes to an end, here are some tips for financial success for the New Year. Tips for Financial Success Check payroll and benefits It’s easy to let things slip through the cracks sometimes, but payroll and benefits should never be one of

As a small business owner, there are so many benefits to bookkeeping. Bookkeepers can help you be audit-ready for any time of year, you’ll have a trustworthy advisor that is up-to-date with tax rules and changes, and most importantly you can focus on your small business without being bogged down by bookkeeping. Now that you’ve decided to outsource your bookkeeping, it’s time to decide if you want to go with virtual or traditional bookkeeping. Both virtual and traditional meth

Tax season is one of the most stressful times of the year for a small business. Tackling your taxes and staying in compliance is a never-ending maze, so it’s best to start preparing for tax season now, especially following the tumultuous presidential election and a catastrophic pandemic this year. COVID-19 aid, CARES Act, and Tax Cuts and Jobs Act (TCJA) will affect deductions, tax rates, and rules for the 2020 tax season. Your small business will have to stay flexible during

Managing a small business is no easy task. There are plenty of things that can go wrong, from bad marketing, incorrectly pricing your products, targeting the wrong niche, or worst of all, running out of money. No matter how you slice it, small businesses are a goldmine for mistakes, but that doesn’t mean they can’t be avoided. These are the top 3 common financial mistakes small businesses make: Combining Personal and Business Accounts Mixing finances might not seem like that