Why Does My Business Need Internal Controls?

Why Does My Business Need Internal Controls?

Your business may need internal controls. Internal controls are the policies and procedures a business takes to safeguard its assets. A key to running a profitable business is to make sure that the assets, especially cash, are protected. Assets are the lifeblood of...
The Difference between an Employee and an Independent Contractor

The Difference between an Employee and an Independent Contractor

At some point in time, a business owner has to decide whether to seek help in growing their business.  They are going to need employees or independent contractors or both for the business to grow. An employee is hired by a business to perform a specific task or tasks....
Taking the Home Office Deduction

Taking the Home Office Deduction

Taking the home office deduction can be complex and vary between individual small businesses. For more information on whether you should take the home office deduction, please consult with your licensed CPA. Many small businesses are based at home. There are numerous...
What to Know about the CARES Act August 2020

What to Know about the CARES Act August 2020

On March 25, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law. A summary of the provisions of the law can be found here. Updates to the CARES Act in Summer 2020 On June 5, 2020, the Paycheck Protection Program Flexibility Act of...
When Should My Business Hire a Controller?

When Should My Business Hire a Controller?

At some point in their existence, a small business may face the decision about whether to hire a Controller. The timing of this will vary widely among businesses depending on their size, projected future growth, current staffing, and organization of the firm’s...
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 they are subject to. 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. ...