With tax reform expected this year, we’re facing a “wait-and-see” period for tax laws, where 2011 didn’t bring many changes in small business tax filings. No president wants to increase taxes in (or leading up to) an election year, so … Continue reading →

Forty-two percent of employees surveyed said that they felt their company had a “weak ethical culture,” according to the National Business Ethics Survey (NBES), a report published by the Washington, DC‒based Ethics Resource Center (ERC). http://www.ethics.org/nbes/ This figure is up … Continue reading →

Whether the economic recovery is real or just wishful thinking on the part of economists and politicians running for office, there’s no doubt that cutting costs in your business while maintaining value is one way to stay ahead in any … Continue reading →

It’s important for a small business owner to know that, once you make the transition to accrual-based accounting, it’s frowned upon by the IRS to switch to a cash-based method. However, as a business owner, once you realize the advantages … Continue reading →

Most micro-businesses, small businesses and sole proprietors use a method of bookkeeping called cash-based accounting. For “all-cash” businesses and sole proprietors who simply file a Schedule C to report 1099 income, cash-based accounting is very simple. You can maintain your … Continue reading →

Choosing accounting software for your small business can be a harrowing process, almost as challenging as finding a small business bookkeeper, accountant or financial controller. In fact, the two activities often go hand-in-hand, since many bookkeeping firms prefer certain accounting … Continue reading →

If you thought financial reports were only important for tax filings and applying for a loan, you might be surprised at how, when you really understand financial reports, they can help you get a clear financial snapshot of your business. … Continue reading →

When you use accrual basis accounting in your business, you’ll get a better idea of your company’s overall financial health. But you may have a harder time keeping track of liquid assets — money you can spend today on the … Continue reading →

With Earth Day on April 22, now is a great time to begin thinking about capital improvements for your business that will have tax benefits… and more. While many energy tax credits disappeared in 2012, there are still several energy … Continue reading →

When many business owners start out, they run their business using the cash-based accounting method. As a new business owner, they may not be aware this is what it’s called, or even that there’s another way to do small business … Continue reading →