Few things are more important for a small business than bookkeeping. You want your business to be profitable and will likely want to expand eventually. When that time comes, you want to know that your business has a solid financial foundation and sound bookkeeping...
Your business is growing, and you want to handle the financials better. You may be starting a new business and want enough cash to make ends meet. The answer to many financial concerns for small business owners lies in a sound bookkeeping system. Luckily, bookkeeping...
Is a business credit card the right move for your business? The proper use of a credit card has the same rules for business or personal use. If managed properly, credit cards used for business purposes can benefit small businesses. Benefits of Business Credit...
Proper small business financial management requires several essential skills, including expense tracking. First, you must ensure the business is an ongoing opportunity, generating revenue and maintaining cash flow. Second, you must manage expenses within...
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. If you have already met the requirements for deducting your vehicle for your business,...
If you deduct your vehicle mileage for business purposes, you will want to be aware of new standards going into effect. The IRS released new standard mileage deduction rates for 2023. If you have already met the requirements for deducting your vehicle for your...
As we enter the new year, many small business owners focus on tax obligations and how they can reduce the current year’s taxes. However, after the year is over, little can be done to change a business’s tax situation. It is best to get a jump start on next year’s...
Audits by the Internal Revenue Service (IRS) are rare, but there are certain behaviors the IRS tends to keep an eye out for. The reasons for an audit are not always clear, but here are six of the most common IRS red flags for small businesses to avoid. Small Business...
Three common roles in a company have the most influence over financial affairs and functions: the Certified Public Accountant, the Chief Financial Officer, and the Controller. Some might find it difficult to know the difference between a CFO and a Controller. These...
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...
