We recently discussed updating your business plan for 2020. Reviewing your finances is obviously a big part of that — big enough that we thought even more attention is needed for your budget. Nearly everything you do in your business can be bounced off of your cash budget. It’s one tool that will keep you… Continue reading Prepare your Business Budget for 2020
Category: Accounting
Know Your Cannabis Taxes
Taxes. Does that kill your buzz? You don’t often hear the word ‘taxes’ in conversations about cannabis and cannabis industries. But it’s important. Just like any other tax, there are tax implications of a marijuana business. But first, let’s look into this idea of running a cannabis business. Types of Business in the Cannabis Industry… Continue reading Know Your Cannabis Taxes
Benefits of Outsourcing your Bookkeeping
Bookkeeping is the foundation of your financial records. From that foundation, you’ll build your accounting strategies, taxes, business plans, budgets, and more. That is why bookkeeping is so important, and outsourcing your bookkeeping to a pro will greatly benefit your bottom line and your strategic growth. But, what does that all mean? Let’s start with… Continue reading Benefits of Outsourcing your Bookkeeping
Small Business Tax Preparation: Work with a Tax Pro
Signs That Your Need a Tax Pro Usually, the biggest sign that it’s time to hire a tax pro is that sinking feeling in your gut. You know that you’re not on top of the tax codes. Maybe you’re not even sure when or what to file, or you’ve got that nagging feeling that you’re… Continue reading Small Business Tax Preparation: Work with a Tax Pro
1099 Reasons to Hire Independent Contractors
Maybe not 1099 reasons. But there are good reasons to go the independent contractor route versus hiring employees. Of course, there are also compelling reasons to go the other direction on that. There’s a lot to consider when you make this choice, so let’s dive in. Independent Contractors versus W2 Employees Before we get into… Continue reading 1099 Reasons to Hire Independent Contractors
5 Tips in Preparing For Your 2018 Business Taxes
As if taxes aren’t scary and complicated enough, we now have a brand new tax law to learn. As 2018 comes to a close, there are things you can do to plan for your 2018 taxes and potentially save your business tons of cash and yourself some headaches. Here are 5 tips in preparing for… Continue reading 5 Tips in Preparing For Your 2018 Business Taxes
5 Ways to Finish 2018 with a Bang!
2018 is fast coming to a close, and the Holiday festivities are already starting to fill up your calendar. You set some aggressive goals for the year and did some much needed strategic and tax planning with your advisors. Crunch time is coming, and there are some things you can do to finish 2018 strong… Continue reading 5 Ways to Finish 2018 with a Bang!
Why Update Business Accounting Software?
Many entrepreneurs ask us why update business accounting software so often? Well, when you buy accounting software, even if the installation goes well, you will eventually grow frustrated when you don’t get the return on investment you’d expected. There’s a simple reason for this: Stuff changes. Technological improvements are occurring at a breakneck speed. So yesterday’s cutting-edge… Continue reading Why Update Business Accounting Software?
How to Decrease Your Business Insurance Costs
Adequate insurance coverage is, in many cases, a legal requirement for a business. Even if it’s not for your company, proper coverage remains a risk management imperative. But that doesn’t mean you have to take high insurance costs sitting down. If you are wondering how to decrease your business insurance costs, there are a… Continue reading How to Decrease Your Business Insurance Costs
What Are the Tax Implications of Making an Employee into a Partner?
In today’s competitive environment, offering employees an equity interest in your business can be a powerful tool for attracting, retaining and motivating quality talent. But what are the tax implications of making an employee into a partner? If your business is organized as a partnership, however, there are some tax traps you should watch out… Continue reading What Are the Tax Implications of Making an Employee into a Partner?