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As a business owner, it’s tempting to handle as many of your business’s tasks as possible to better control and reduce your expenses. However, when it comes to financial and tax-related to-do’s, it’s best to outsource these items to a CPA with experience and education pertaining to business tax compliance. Here are a few ways a business CPA can save you time and money. CPAs Understand the...

While the demand for health services is soaring, it takes more than high demand to operate a financially successful healthcare entity. Sound financial principles and accounting best practices are necessary for a financially sound organization. Here are key strategies for healthcare accounting to boost your financial success. Utilize the Accrual Accounting Method There are two accounting methods:...

Real estate investment involves buying, managing, leasing, and selling property. One of the critical aspects of the investment is bookkeeping which requires the input of a certified public accountant. A real estate CPA is an accounting professional with expertise in real estate investment. They understand tax laws, financial transactions, and accounting practices involving real estate...

Accountants are essential pillars of business success. They help you uncover tax-saving opportunities and fulfill tax obligations before closing a trading period. Although you can start a business without a CPA firm, the complexities of bookkeeping and tax filing may eventually require you to hire one. Finding a reputable accounting firm is easy, provided you research widely and ask questions...

If you’re a real estate investor or landlord, there are a few steps you can take to maximize your business’s returns; utilizing a real estate CPA is one of these moves. CPAs are individuals who have passed strict education and licensing requirements. These requirements ensure that CPAs thoroughly understand the intricacies of the tax code. Using a CPA that specializes in real estate matters has...

To run a profitable company, it’s important to know how you’re doing financially. Maintaining in-depth accounting records can help you keep an eye on your company’s overall financial health and assist with your decision-making. Here are a few things you need to know about construction accounting. 1. Construction Accounting is Different Than Other Types of Accounting While construction accounting...

People facing unique health conditions or legal matters typically seek out professionals with specialized knowledge in the issues they’re facing. They naturally want someone with the necessary expertise, experience, and understanding to ensure they receive the most accurate and professional guidance or treatment. The same concept holds true for real estate businesses needing a real estate...

Imagine a company that neglects to reconcile its financial accounts every month. Over time, bank errors, missing transactions, and data entry mistakes that go unaddressed result in misleading financial information. Cash flow problems begin to appear, and bounced payments lead to overdraft fees. In worst-case scenarios, fraud and unauthorized transactions result in substantial losses. It’s a scary...

The exhilaration you experience when your horse crosses the finish line first—or your numbers hit in roulette—is incredible. It sets off an adrenaline rush that fuels excitement and a surge of joy, making the moment truly unforgettable. You’re so excited, in fact, that it never crosses your mind that you might owe gambling taxes. We never like being the bearer of disappointing news, but come tax...

Local, state, and national governments collect sales taxes to generate revenue for essential public services like education, healthcare, public safety, and infrastructure. Sales taxes ensure a broad-based and equitable approach to taxation by distributing the burden of supporting public services among consumers who benefit from them. Governments often adjust sales taxes to reflect current...