Blog Category: Accounting, Payroll, & Taxes
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How to Reconcile in QuickBooks: A Start-To-Finish Guide
Are you one of the more than two million people who use QuickBooks for their business’s financial and operational needs? If so, you know that the tool is robust enough to handle large-scale transactions but nimble enough to support startups. To get the most use out of your software investment, it pays to know your […]
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Bankruptcy Foundations: Chapter 11 Bankruptcy
We are living in unprecedented times as the COVID-19 virus takes hold of the world. As businesses are forced to close, business owners are in desperate need of a solution. For many business owners affected by this pandemic, filing for Chapter 11 bankruptcy seems like the only option. If you’re a business owner struggling to […]
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How to Choose the Best Payroll Service for Your Business
Research shows that more than 50% of business owners completely outsource their payroll service and tax reporting services. Moreover, nearly all businesses outsource at least a portion of their payroll in some capacity. They do so to help manage costs, lower risks, minimize exposure, reduce manual efforts, and ensure access to skilled staffing. Are you looking […]
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An Employer’s Guide to IRS Form 940
Congratulations! Your business is off the ground and you’ve hired your first W-2 employees, now it’s time to learn what a Form 940 is. As you prepare to run payroll, you’ll notice that there are multiple forms to complete, taxes to pay, and complexities to navigate. Maintaining a team takes more work than simply running […]
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Small Business Tax Deductions for 2020
Do you want to know one of the easiest ways to reduce your income tax bill? It’s claiming for all of your business’s relevant and possible tax deductions. We know that filing your taxes can be intimidating and time-consuming, but we hope to make things simple by sharing the easiest tax write-offs that can help […]
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A Simple Profit and Loss Statement Template for Businesses
As a business owner, you’ll be responsible for managing the financial health of your business. From handling the accounting duties yourself or having others take on this task. One of the more important documents for any type of a business is a profit and loss statement template. If you’re outsourcing these services then it pays […]
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A Sample Profit and Loss Statement for a Small Business
As a small business owner, you’re deeply involved in every aspect of your company. You might be the hiring manager, marketing director, and accountant, all in the span of one day which is why you need to know what a profit and loss statement is. Knowing the roles you have to play is important to […]
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Bankruptcy Foundations: Chapter 11 vs Chapter 13
When you founded your business and started asking big questions about how to help your business succeed, chances are you didn’t ask about how to file for Chapter 11 vs Chapter 13 bankruptcy. After all, no young business wants to think about the prospect of failure. But sometimes, when the going gets rough, it’s helpful […]
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11 Pro Tips for Choosing Payroll Services for Small Business
As a small business owner, you juggle a thousand things a day. From tax compliance, inventory, and point of sale systems to customer care and loyalty programs, you have to wear a dozen different hats every day. And one of the biggest chores on your list each month is likely managing payroll. Getting the right […]
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W2 vs W4 – Discover the Different Types of IRS Tax Forms
For the majority of Americans, tax season begins at the end of January. At this time, tens of millions of people are receiving a Form W-2 from their employer. Receipt of the W-2 form and other documentation allows individuals and businesses to file their income taxes for the year. The U.S. Internal Revenue Service (IRS) […]
