Income Statements and Balance Sheets for Your Business We love helping you save on your business taxes. Having these two statements gets us both off on the right foot when preparing those taxes accurately and efficiently. 1. Top Recommendation: Use QuickBooks QuickBooks is the go-to tool for generating professional financial reports. With its intuitive interface, […]
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Wave is a tool we’ve recommended many times. It’s simple and fast. It’s easy to understand. Overall, we like its features for the price at least as well as Quickbooks, if not much better. It’s an excellent choice for business owners with straightforward needs. If you simply bill clients for services, and your business revenue
Starting January 1, 2024, most small businesses will have to file a Beneficial Ownership Information (BOI) report with the Financial Crimes Enforcement Network. What is the BOI report? It is a report that discloses the identities of certain business owners as required by the Corporate Transparency Act. What is my deadline? Did you form
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Accountable plans help businesses to optimize their tax footprint, especially for home office deductions. What is an accountable plan? It allows for the reimbursement of legitimate business expenses incurred with personal funds. Think home office setups, mobile phone bills, and even mileage. The key factor? Reimbursements are tax-free for the employee and deductible for the company.
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