Do you know how your income is taxed? Most assume that a higher salary means higher taxes. But, this is not how the system works. Income is actually taxed in increments, and knowing how yours is broken up will result in better financial decisions. We’ve highlighted the key things to know about tax brackets and [...]
When is it time to bring in professional help? Most small business owners start out doing it all. Not only do they handle the day-to-day operations but take on the company finances, projections, taxes, filings, and more. However, juggling all of these tasks quickly becomes overwhelming and can cause stress, mistakes, and countless wasted hours. [...]
Do you know if your small business taxes were filed correctly? Taxes for small business owners can be a lot to manage. Between the deadlines, paperwork, rules, rebates, penalties, and more, owners are at risk of missing something and making a filing error. To avoid any mistakes from impacting your small businesses, we’ve outlined the [...]
What should you do with your tax refund? Taxpayers are usually tempted to spend a refund right away. But, impulse buying doesn’t set people up for financial success. Instead, things like debt, investments, and savings should all be thought about beforehand. Below we’ve outlined the things that a tax refund should be used for to [...]
Does your company have a system for managing records? Taxes aren't the only reason small business owners need to stay on top of their records. Keeping records organized year-round helps to save time, reduce stress, maximize deductions, and prevent accounting mistakes. Without this upkeep, owners don’t have an accurate picture of their financial health, which [...]
How do you reconcile your small business records at the end of the year? Year-end is a busy time for small business owners. With projects needing to be wrapped up, and new year projections to be made, it becomes easy to overlook accounting. But ignoring finances is not an option for owners, as year-end financials [...]
Are you planning on retiring soon? From tax laws to personal desires, health care, cost of living, and lifespan, making good financial decisions can drastically impact how comfortable you are in your golden years. So, if you plan on retiring soon, keep reading below where we’ve compiled five key insights that help you retire stress-free. [...]
Is payroll wasting too much of your time? Payroll is one of the most important responsibilities for business owners. It ensures employees are paid on time for their work and that the company is compliant with IRS regulations. But despite the importance of payroll, many small business owners struggle to get it done. This often [...]
Do you know all the deductions you’re eligible for? Every small business owner knows that deductions help offset costs at the end of the year. But, knowing which expenses quality can be hard to remember. That's why we’ve compiled a list of the most commonly forgotten deductions so that you don’t miss potential savings. 1. [...]
Taxes don’t have to be stressful. Staying organized is the best way to make filing taxes easier. Whether you decide to begin early, use a digital system, or track regularly there are plenty of things you can start doing today to alleviate your stress in the future. In the article below, we’ve compiled a list [...]
