Many small businesses have struggled to stay afloat during the COVID-19 pandemic, and some were even forced to close. For the businesses that continue, life will never be the same. We have seen unprecedented changes during this pandemic; grocery stores were out of necessities and fresh...
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It feels as if everything is changing due to the coronavirus pandemic; events are canceled, stores are closing, schooling is different, and now, your taxes may be changing as well. While many organizations continued to work from their office locations throughout the pandemic, or closed...
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Businesses are always looking for ways to cut costs, especially during these uncertain times. Every little bit counts when it comes to taxes. Did you know there are several techniques that your small business can use in order to save money? Here are 5 lesser...
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The distinction between employees and independent contractors is important when it comes to taxes, as it determines how the person is paid by their employer and where their taxes are allocated. However before we dig into the tax distinction, it’s important to define what it...
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The Paycheck Protection Program (PPP) provided a financial safety net for small businesses across the country impacted by COVID-19. The program was able to pull many small businesses out of debt, or at least help keep them afloat. There are still a lot of questions associated...
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The pandemic has had a global impact on business finances, and many companies are facing challenges they never anticipated. It’s forced businesses to take a step back, re-prioritize, and learn to be adaptable and flexible in uncertain times. If you’re struggling to navigate these uncharted...
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Small business owners aren’t always keen on the idea of a financial audit. Sometimes it feels like ignorance is bliss, but financial audits aren’t something to put off. While an IRS audit can be stressful, an internal audit or an audit conducted by a third...
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Selecting a quality peer reviewer is a critical step in ensuring that a firm’s peer review is efficient, cost-effective and adds value to the firm’s quality control policies and procedures. In a peer review, a CPA firm (like us) reviews the practices and procedures of another...
Continue ReadingA Chief Financial Officer (CFO) plays an integral part in your organization’s financial stability. They have the responsibility of overseeing financial reporting, accounting, audit prep, and other financial related tasks. While hiring someone in-house is a good option, there are also several benefits to outsourcing...
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Knowing the difference between sales tax and use tax can be a source of confusion for many small business owners, especially if you’re selling or purchasing out of state. It’s important to have a clear understanding of both in order to stay in compliance with...
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