Your Small Business Audit Risk Just Grew

The word “audit” makes many business owners shudder. No one likes the idea of the IRS digging into their books looking for mistakes and finding ways to increase their tax bill. But, historically, the rate of audits for small businesses has been so low that audits were almost unheard of. That’s about to change for [...]

How Dext Prepare Can Save You Time and Money in 2021

Are you looking for new ways in 2021 to save time and money?  Maybe you are looking to make your company greener or streamline processes? A great way to do all the above is with and integrated app called Dext Prepare, formerly known as Receipt Bank.  If you are a current a Receipt Bank customer [...]

Should I Hire an Accounting Firm, or Can I Do it Myself?

As a business owner, your decisions can mean the difference between financial success or stress and failure. In the past few years - especially since the onset of the COVID-19 pandemic - there have been two major trends growing for small and medium businesses: outsourcing services and DIY with online software. But which one is [...]

How do I prepare for tax time?

Prepare for Tax Time: Get it together now to make taxes as painless as possible Tax season is always a little hectic. With the rollercoaster that was 2020, this year is bound to be even more challenging (especially if your business took advantage of the PPP or EIDL programs). But there’s no reason to panic. [...]

Reap the Rewards of Great Bookkeeping: Grow Your Business with KPIs

If you want to grow your business, boost your performance, or even just survive an economic challenge like the one we’re currently facing with COVID-19, you need to measure your results.  The old idiom “what gets measured gets improved” has never been more true than it is now. With the speed of our economy and [...]

5 Big Benefits of Filing Taxes Early

Are You Ready for Tax Season? Here are 5 Big Benefits of Filing Taxes Early We all know the saying about death and taxes. Death can be a bit unpredictable, but taxes pop up like clockwork every April. But that doesn’t mean you should wait until April to get ready for tax filing. In fact, [...]

Changes to QuickBooks Desktop 2021 Set To Improve Business and Increase Productivity

QuickBooks Desktop is planning on releasing pivotal additions for 2021 that will improve your business. Not only will these additions make things easier, but it will also significantly decrease your workload in your day to day operations. QuickBooks Desktop 2021: Improvements Worth Noting Bank Feeds Require Less Manual Entry QuickBooks will be a better fit [...]

Do These 7 Bookkeeping Tasks Monthly to Keep Your Small Business Healthy

Bookkeeping can be an overwhelming job if you let it pile up. The longer you wait, the more work builds, and the harder it is to complete it. Not only that but if your bookkeeping isn’t timely, you won’t have the information you need to make wise business decisions.  So, what should you do? Make [...]

1099MISC Form 2020 – What You Need To Know

Changes to the 1099MISC Historically, the 1099MISC was used to report Nonemployee Compensation. In 2020, the Nonemployee Compensation Box is being removed and moved to its own form, 1099NEC. This form was discontinued in the 1980s, but is being resurrected to make reporting nonemployee compensation easier and more efficient. The 1099MISC will have minimal changes [...]

Why Accounting Matters For Your Small Business

As a business owner, bookkeeping and accounting can often feel like a chore. A necessary evil that you put off until the last minute and spend as little time as possible. But there are several ways bookkeeping and accounting can make your life easier and help you run a more successful, more profitable business.  As [...]

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