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To maximize your company’s growth, it’s important your organization has the ability to focus on its core business offerings. When you outsource accounting services, you remove time-consuming task that can hinder your company’s growth potential. Here are some things to consider when deciding if your corporation should outsource its accounting services. 1. Your Company’s Desire to Maintain a Larger...

If you work and live in the United States, chances are you are one of millions of Americans who rely on the help of certified public accountants for tax preparation assistance and other needs. CPAs provide valuable financial insights to both individuals and businesses, but with so many accountants and tax professionals out there, it can be challenging to know which CPA to choose. If you’re...

It’s surprising how many business owners forego hiring a tax accountant. While some smaller business owners can handle their own taxes, the vast majority would benefit from hiring a professional tax accountant to act as a trusted partner in optimizing tax matters, ensuring compliance and providing strategic insight into business operations. Benefits You Receive by Working with a Tax Accountant 1....

When selecting a tax professional, a business generally has two providers to choose from: licensed tax professionals such as a Certified Public Accountant (CPA) or an unlicensed tax preparer like H&R Block or Turbo Tax. Depending on the size of your business, you may be fine to file your taxes through an unlicensed tax preparer, but large businesses need more comprehensive services and greatly...

Student loans have become a necessary aspect of earning a college degree for millions of students and graduates. For the last several years, college costs have continued a steady climb, leading to a need to rely heavily on borrowing to cover expenses. Student loans can be easy to get, evidenced by the more than 44 million borrowers who owe a collective $1.5 trillion. However, they aren’t always a...

The IRS just released the new Tax Withholding Estimator that is intended to replace the old Withholding Calculator. The new Tax Withholding Estimator includes user-friendly features that is tailored to help retirees quickly and easily calculate the correct amount of tax that should be taken from their pension payments and Social Security benefits. The new Tax Withholding Estimator will also...

Which accounting professional does your business need? No matter how small your business is, every business needs a financial and tax advisor. The terms bookkeeper, accountant and CPA have been used interchangeably, but there are vast differences on the value they can bring to your business. Below are the tasks preformed by accounting professionals so you can determine whether your business needs...

According to the Association of Certified Fraud Examiners, nearly 30 percent of businesses are victims of payroll fraud. That’s an unsettling percentage, with smaller businesses being twice as likely to be victimized by payroll fraud than larger businesses. Here are four alarming payroll fraud schemes every business owner should be aware of: Common payroll schemes Ghost employee fraud. A ghost...

Taxes are an inevitable part of everyone’s financial life, and they are often one of the more confusing topics to understand. The tax code is complex, consisting of many rules and guidelines for what’s taxable, what’s not, and what can be used to help reduce tax liabilities each year. However, it is essential to recognize what strategies you can use to save money on taxes each year. The student...

Did you know you can rent out your property on a short-term basis tax free? Most income is taxable and reported to you and to the Federal and state tax authorities. Although, if you rent your property out for less than 15 days, that income is not taxable. Therefore, your rental is not considered a business and you won’t have to worry about business taxes. With summer coming up and Dallas being on...