Year End Small Business Tax Tips
When the year begins to wind down, many small businesses wonder if there are any last-minute tax tips that can save some money when they pay taxes. After all, once the year is up you may lose the ability to claim certain deductions or benefits, so it makes sense to ensure you’re taking advantage of […]
7 Mistakes To Avoid When Reclassifying Employees
Organizations across the country are responding to the U.S. Department of Labor’s new overtime salary threshold by reclassifying some of their exempt employees into overtime-eligible nonexempts. Starting Dec. 1, the new DOL rules take effect that nearly double the salary threshold at which most salaried workers become exempt from having to be paid overtime. The […]
2016 Tax Brackets
Did you know that not everyone or every dollar earned is taxed the exact same amount? This is because the United States tax system aims to be progressive. A progressive tax system tries to collect more tax from those who earn more. In essence, a million dollar earner pays more total tax as well as a […]
6 Money Saving Tax Tips for the Self-Employed
Self-employment can be hard, but if it was easy, everyone would do it, right? In an attempt to lighten your load and ease your burden, whether you are just trying to make the October 17 tax extension deadline, figuring out estimated taxes, or are gearing up for next tax season, take a look at these six […]
IRS Warns Of 2017 Tax Refund Delays
The Internal Revenue Service today issued a warning of 2017 tax refund delays for certain taxpayers, urging folks to adjust their tax withholding now. We’re talking about your 2016 taxes that are due April 15, 2017. There’s good reason to pay attention—at least there’s something you can do about it. A couple things are to […]
5 Reasons Your Business Needs a CPA
As a business owner, you probably thrive in a DIY environment; but the more hats you wear, the less you’ll accomplish successfully. Accounting is one of the most important areas for keeping your company profitable. As you start out and your company grows, software can only take you so far. A CPA can help your […]
The Top 5 Accounting Mistakes By Small Business Owners
Small business owners face numerous everyday challenges, and they usually conquer them with their entrepreneurial strength. Unfortunately, keeping the books on their growing business is not a skill someone can simply persevere through and get it right. The potential consequences of messing up on the accounting functions can be serious when it comes to the […]
The 5 Most Common Payroll Mistakes by New Businesses
There are payroll mistakes that benefit employees, as well as those that benefit employers. But either way, a mistake is a mistake. If you come across any type of mistake, such as overpaying or underpaying employees, it is imperative to act fast, discuss the situation with your workers, and provide a remedy that will allow […]
Year End Tax Tips for Businesses
The National Society of Accountants is offering some year end tax tips for businesses. Consider several general strategies, such as use of traditional timing techniques for income and deductions and the role of the tax extenders, as well as strategies targeted to your particular business. As in past years, planning is uncertain because of the […]
Beware of Pervasive Phone Scams
Recently we’ve had an uptick in clients calling worried about calls threatening arrest for unpaid taxes, and they aren’t alone. The IRS has seen a recent increase in local phone scams across the country, with callers pretending to be from the IRS in hopes of stealing money or identities from victims. These phone scams include […]
Consult with Your Dallas Accountant for Entity Selection and Structure
Starting a business is one of the most rewarding experiences you will ever have. However, the process is wrought with pitfalls for inexperienced entrepreneurs. Seeking advice from your Dallas accountant regarding entity selection and structure enhances your chances for long term success. Your accountant can act as a sounding board for your ideas and suggest […]
Still Time to Act to Avoid 2014 Tax Surprises
Even though only a few months remain in 2014, you still have time to act so you aren’t surprised at tax-time next year. You should take steps now to avoid owing more taxes or getting a larger refund than you expect. Here are some actions you can take to bring the taxes you pay in […]
Avoiding the Top Tax Mistakes that Small Businesses Make
As we are half way through the year, now is the best time to take action and avoid most common tax mistakes that small businesses make. Following are some of the best practices to help your business avoid tax trouble. Maintain Good Records Mid-year is an ideal time to examine your recordkeeping habits. Good recordkeeping […]
Why Many Restaurants Fail in the First Year of Operation
Opening a restaurant can seem like a failsafe venture. After all, everyone has to eat. The reality, however, is that eateries are notoriously risky enterprises, with most studies suggesting that somewhere around 60% of them will fold within the first year. At Gurian CPA Firm, we are experienced accountants with expertise working for local restaurant […]
3 Ways You Can Use Technology to Simplify Your Payroll
To save money and time, it’s critical that you simplify your company’s payroll processes and modern technological advances let you do this with minimal hassle. If you haven’t started using powerful accounting software or cloud services to help you streamline your payroll processes, our Dallas CPA is here to help you with three ways you […]
Top 5 Reasons Why You Should Hire a CPA for Your Restaurant Accounting Tasks
Owners of new restaurants don’t always make hiring a Certified Public Accountant a priority, but putting a CPA on your payroll can make a huge difference in whether your eatery succeeds. The Dallas financial team at Gurian CPA Firm encourages restaurant owners to consider these main reasons why an accounting professional is so essential to […]
