What Is the Consistency Principle
Your financial statements are key to showing the state and solvency of your business. When you need to borrow money, look for investors for expansion, or take your company public, your financial statements and accounting methods will be reviewed. An accurate view of your company’s numbers is critical for lenders and investors in determining whether […]
How to Report Self-Employment Income Without a 1099
Make sure your taxes are accurate and learn how to report self-employment income, even if you didn’t receive a 1099 for your work.
How Far Back Can The IRS Audit?
We’re sharing a timeline on how far back the IRS can audit you.
What Is The Difference Between Bookkeeping And Accounting?
Bookkeeping and accounting are often considered the same thing, but learn how bookkeeping and accounting services are different.
How to File a Tax Extension
If you can’t make the April 15th tax deadline, you can request a tax extension which gives you until October 15th to file your taxes. Our CPAs will guide you through the process of requesting a tax extension as well as the pros and cons of requesting an extension versus failing to pay the IRS money you owe from your tax return.
8 Reasons the IRS Will Audit You
If you are being audited by the IRS, here are 8 possible reasons why this could be happening.
Cash vs Accrual Accounting: What’s The Difference?
The two most common types of accounting are cash and accrual. They each have their own strengths and weaknesses, which is why many businesses use a combination of the two methods. The basic idea of cash accounting is straightforward: revenue is recorded when money comes in, and expenditures are recorded when money goes out. This […]
Will the Existing Income Tax Code Ever Be Replaced with a Flat Tax?
Every so often, an article or speech will make the rounds about how it would benefit all Americans to replace the current income tax structure with a flat tax. Our CPA firm is exploring what the flat tax is, its advantages and disadvantages over the existing code, and whether we believe a flat tax will […]
How a Business Purchase Agreement Can Protect You
Don’t buy an existing business without a business purchase agreement. Learn why this document is so important to protecting your interests.
Sign Your E-File Authorization Form
When completing a manual or paper tax return, you know how important it is to sign and date the document before mailing it in in order to make it legally binding. What about electronic filing – is signing still important? Our CPAs are breaking down why you need to sign your e-file authorization form and […]