When Should My Business Hire a Controller?

When Should My Business Hire a Controller?

The best time to hire a financial Controller depends on the business’s size, current staffing, projected future growth, and organization of the firm’s accounting function. What Is a Controller? A Controller is an employee in a management position responsible for some...
Tips for Small Business Financial Management

Tips for Small Business Financial Management

Small businesses exist for many reasons, but they all share 3 common purposes: They must be worth pursuing, as envisioned by the person or persons starting them Once pursued, they must continue To continue, they must earn a profit For a small business to succeed, it...
How to Deduct Your Vehicle for Your Business

How to Deduct Your Vehicle for Your Business

Clients often ask what vehicle expenses are tax deductible. While this may seem a somewhat complicated aspect of business ownership, this article aims to help clarify the process. The use of a vehicle is often an ordinary and necessary expense of conducting business...
4 Reasons a Small Business Should Outsource Accounting

4 Reasons a Small Business Should Outsource Accounting

When it comes to a business’s financials, much depends on the type of business and the needs and motivation of the business owner(s). Accounting is essential to all small businesses.  Many small businesses that pay little or no attention to their accounting...
7 Common Reasons the IRS May Audit a Tax Return

7 Common Reasons the IRS May Audit a Tax Return

The IRS may audit a tax return for a variety of reasons. Surprisingly, most individuals will never face one, and only the IRS knows for sure how they select a tax return for audit. However, experience shows several reasons the IRS might select a tax return for an...
What to Do When You Receive a Tax Notice

What to Do When You Receive a Tax Notice

A taxpayer can receive a notice from any taxing agency. This could be a state agency for income, sales or payroll (including unemployment) matters or, of course, the Internal Revenue Service (IRS) for federal income or payroll tax matters. Here’s what to do if...
Avoid 6 IRS Audit Red Flags for Your Small Business

Avoid 6 IRS Audit Red Flags for Your Small Business

An Internal Revenue Service (IRS) audit is usually rare, and the reasons for an audit are not always clear. However, certain factors may cause the IRS to audit a business. Here are six IRS audit red flags a small business should avoid. 6 IRS Audit Red Flags to Avoid...
Top 6 Small Business Financial Mistakes

Top 6 Small Business Financial Mistakes

Owning a business is part of the American dream, but starting or running a business is not easy. There are six critical small business financial mistakes a successful business needs to avoid. Top 6 Small Business Financial Mistakes Many new businesses start every...