What is Payroll Processing?
Payroll processing is an essential part of any business. In this article, we will discuss what payroll processing is, steps it entails, and tips for effective payroll processing for your Dallas business. What is Payroll Processing? Payroll processing is the entire process of how a business compensates employees. It includes determining payroll scheduling, calculating employee […]
How to find the best accountant for your construction firm
Most business owners can benefit from working with a professional accountant, but if you’re in the construction industry, it’s even more important to make sure you’re getting great advice. Due to the nature of the business, construction accounting requires a unique approach. And since the rules are ever-changing, you need an expert who is well-versed […]
How to Stay Financially Stable when Money’s Tight
When you’re on a tight budget, an unforeseen emergency or even a small, unexpected bill can create a major issue. With everything from housing and utilities to gas and groceries costing more than it used to, finding financial stability can sometimes feel like an uphill battle. Taking the time to learn how to be financially […]
What is double taxation and what does it mean for a business?
If you’re operating a business in the United States, you know that paying taxes is something you can’t avoid. However, for businesses that are structured as C-corporations, an issue known as double taxation can make you feel like you’re paying more than your fair share. The following guide takes a look at how double taxation […]
How to find the best accountant for your construction firm
Most business owners can benefit from working with a professional accountant, but if you’re in the construction industry, it’s even more important to make sure you’re getting great advice. Due to the nature of the business, construction accounting requires a unique approach. And since the rules are ever-changing, you need an expert who is well-versed […]
What is double taxation and what does it mean for a business
If you’re operating a business in the United States, you know that paying taxes is something you can’t avoid. However, for businesses that are structured as C-corporations, an issue known as double taxation can make you feel like you’re paying more than your fair share. The following guide takes a look at how double taxation […]
Why Your Small Business Needs to Partner with a CPA Firm
Running a business can be a tall order, especially if you wear many hats while simultaneously trying to expand and hit new milestones. And while most business owners will say they want to minimize costs as much as possible, this shouldn’t come at the expense of convenience and efficiency. Working with a CPA firm is […]
How to Streamline Your Restaurant Accounting
A restaurant business, like any other, relies on good accounting to ensure growth and profitability. Keeping up with the restaurant accounting process can help with financial reporting and overall business planning. We have highlighted three tips that can help streamline your restaurant accounting. 1. Be Aware of Your Overhead Cost Ultimately, every restauranteur wants to […]
Why Your Small Business Needs to Partner with a CPA Firm
Running a business can be a tall order, especially if you wear many hats while simultaneously trying to expand and hit new milestones. And while most business owners will say they want to minimize costs as much as possible, this shouldn’t come at the expense of convenience and efficiency. This is why your small business […]
Ghost Kitchen Accounting Basics: What to Know and Why It Matters
Ghost kitchens have experienced exponential growth over the last few years, giving the new restaurateur an affordable shot at success. The term “ghost kitchen” generally refers to virtual restaurants designed exclusively for online ordering and delivery. As such, ghost kitchens aren’t like your typical restaurants – these particular haunts have no seating areas or wait […]
Tips on How to Run Accounting for IOLTA Bank Accounts
If you handle a law firm, you are familiar with the legal requirement for running bank accounts. Unlike other businesses, private practice law firms must bank clients’ funds in a separate account. That’s because you’ll handle money from settlement checks, overpayment of bills, escrow funds, or advance payments for court. Separating the accounts makes it […]
Are Sponsorships Tax-Deductible? 3 Things You Need to Know
If you’ve heard that sponsorships are an effective way to support a community group or event or expose your name to more members of the community, you may wonder are sponsorships tax-deductible. Here are a few things to consider to help you decide if your sponsorship qualifies as a tax deduction. A Qualified Sponsorship Isn’t Considered […]
A Quick Guide to Taking Out a Business Loan
At some point, you will need to access capital to grow or expand your operations through business financing. Taking out a business loan can provide a much-needed capital infusion and can be a lifeline for small and large businesses alike when used responsibly. It can be the fuel your company needs to reach the next […]
4 Important Benefits of Outsourcing Your Accounting Services
Let’s face it, running a business is no easy feat. There are numerous processes and functions that you need to handle on an ongoing basis to ensure your enterprise runs seamlessly. From sorting out finances to managing your employees and making strategic plans for the future, the demands of operating a successful business can leave […]
How Do Business Taxes Differ From Independent Contractor vs Employee
When you need to staff your company, you have the option of hiring an employee or outsourcing the work to an independent contractor. Both options can get the work done, but there are key differences between the two classifications. Whether an individual is classified as an employee or independent contractor also impacts your business taxes. […]
3 Things to Know If You’re Thinking of Selling Your Business
After years of hard work, you’re ready to use your assets to fund less labor-intensive goals. Or, maybe your small business is no longer suitable to your lifestyle. Selling your business allows you to turn your investment into income. However, it’s essential to understand the tax consequences associated with selling a business. Here’s what you need […]
13 Tax-Deductible Expenses Business Owners Need to Know About
As a business owner, it’s essential to know what expenses are business tax-deductible. Otherwise, you risk paying more in taxes than necessary or potentially getting into trouble with the IRS for taking inappropriate deductions. Here are some tax-deductible expenses every business owner should know about. ⦁ UtilitiesIf there’s a utility that you use solely for your […]
Pro Tips from a Business CPA to Protect Yourself from Occupational Fraud
A report from the ACFE (Association of Certified Fraud Examiners) states that occupational fraud often lasts 14 months before it’s detected, resulting in a median loss of $8,300 each month. Over a year, this results in a loss of almost $100k. It’s essential to take steps to protect your company from occupational fraud. Here are […]
How a Restaurant CPA Can Prepare You for a Single Audit
Though the COVID-19 pandemic has ravaged many industries, the restaurant industry was hit particularly hard. Government-mandated lockdowns, social distancing requirements, COVID restrictions, high food prices, and a labor shortage left many restaurants struggling to keep their doors open. To help restaurants survive, multiple federal aid packages were approved, included the CARES Act programs and the restaurant […]
How a Business CPA is Different from a General Tax Service
If you need help preparing your taxes or making the best moves to minimize your tax bill, consulting with an experienced tax pro will help you accomplish these goals. In your search for a professional to work with, you’ll see that there are business CPAs and general tax services.While the two are similar, there are […]
