Category: Tax Strategy

Accounting

Closing the Fourth Quarter Strong

It’s that time of year again. Yes, the holidays are nearly upon us, but so is the closing of the fourth quarter. And while closing every quarter is important to the financial success of a business, closing the fourth quarter accurately is even more critical. Not only does it represent the final stretch of the fiscal year, but it also sets the tone for the year ahead. Further, as the fourth quarter encompasses the busy holiday shopping season, many companies (not limited to retail) see significant boosts in revenue during this time.

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Accounting

The Accounting Industry and AI

Artificial Intelligence (AI) is a phrase that is heard regularly in our technologically advanced world. Whether you are working in tech, accounting, health, or any other industry, you have likely heard all about it by now. That’s because while AI has been around for some time, organizations are just recently starting to explore how it can benefit them in their own industries. The ability to streamline work and create a more efficient and profitable workforce is one of the primary reasons organizations are incorporating AI into day-to-day operations, including finance.

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Accounting

Maximizing Your Extension

For business owners, staying organized with financials is about more than spreadsheets lining up nicely or thoroughly reconciled accounts (although both are important). It’s about the crucial role organized bookkeeping plays in the actual tax filing process. Simply, organized records both save time and reduce errors during tax preparation. For those who filed an extension this year, this means getting organized now, as those due dates are quickly approaching.

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tax reporting
Accounting

New Tax Reporting Rule Impacts Venmo, CashApp, and PayPal Users

Changes to the tax laws are nothing new. In fact, you can generally count on them with as much regularity as the change of seasons. Often, these changes are obscure, affecting different groups for different reasons. This year, one of the primary changes will impact millions, as it reflects a nearly universal increased use of third-party payment networks for business and day-to-day transactions.

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Accounting

Personal vs. Business Budgeting

As an entrepreneur, it is essential to know how to properly manage both your personal finances and your business finances. At its simplest form, budgeting is the creation of a spending plan to determine in advance your income and outgoing

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Accounting

Understanding Roles: Bookkeeper vs Accountant vs CPA

Accounting nomenclatures often get thrown around like accountant, bookkeeper and CPA without an understanding for their true meaning and differences. As a business owner who has lots of solid business acumen, you may (or may not) understand the contrast between

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Bookkeeping

Time + Taxes Wait For No One

When we round the corner of the third quarter, it seems like hours turn into seconds and days into minutes. Why does the end of the year always seem to sneak up on us? The complexity in the answer to

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