Before You Choose Accounting Software: 3 Essential Steps

All too often, new start-up businesses go with the accounting software that seems to be cheapest, or most popular, or was recommended by their father-in-law (even though his business is totally different). A couple years down the road, it becomes clear that their...

6 Bookkeeping Habits of Highly Successful Small Business Owners

We know, you didn't go into business to spend all your time doing the books. But what if just a few tasks of daily, weekly or monthly maintenance could save you many hours of work and thousands of dollars? It would be worth it, right? Now they need to go shopping for...

5 Benefits of Owning Your Small Business Property

Is it time to purchase the commercial property you’ve been leasing?  If you’re a small business owner who currently rents office or retail space, you could be in position to benefit from becoming an owner. Of course, the decision to own or rent will depend on a number...

File Your LLC in These States and Save $$$

Did you know that you don't have to register your limited liability company (LLC) in your home state? Instead, you can file in one of the states below, and save considerably on fees and state income taxes. There are also advantages to keeping all the paperwork close...

2019 Tax Deadlines for Small Businesses

Keep this chart handy or copy it into your calendar so you won't miss a due date throughout the year.    W-2 Filing   (Wage and Tax Statement for Full- and Part-Time Employees) January 31    Form 1099-MISC Filing   (Statement of Payments Made to Independent...

How To File Tax Forms as a First-Time Business Owner

If you're new to the world of entrepreneurship, taxes are one of the things you need to learn about, fast. Not to worry, help is at hand. Here's our handy guide to the forms you'll need, both for yourself and your employees.   Income Reporting for Yourself The...

How to Pay Yourself When You’re the SMB Owner

It’s all too easy to dip into the company’s bank account as and when you need to. But there are many good reasons to put yourself on a fixed salary, including simplifying your tax return, protecting yourself from the company’s debt liability…

Taking Stock and Shaping Up For 2019

One of the most popular New Year's resolutions is to get fit. We say your business should be as buff as your body — and making it happen will be a lot easier on the muscles! Here are 4 areas of your business that should get a fresh look every year, along with tips on...

Using Freelancers? Here’s How to Report Their Earnings

There's a major shift in how America works going on. More and more people, in all industries and of all skill levels, are working as independent contractors rather than in traditional full-time jobs. By 2027, more than 50% of the entire workforce will be freelancing....

How to Do Estimated Tax Payments for Small Business

If you're a sole proprietor, LLC owner or partner, you need to know about quarterly estimated tax payments. That's because you pay both your business and personal income tax through one personal tax return, so you are subject to the rules governing anyone who is not...

Organize Your Income Tax Forms Once and for All

Want an easy way to make tax time less stressful? Have all your documents organized, accessible and easy to find all year round. When you sit down to fill out the return, all you have to do is plug in the numbers that are already at your fingertips. Once upon a time,...

5 Year-End Tax Saving Tricks for Small Business Owners

It’s not too late to reduce the income tax hit you’ll take next April. Act now, and you’ll have one more reason to pop the cork and look forward to a happy New Year. 1. Accelerate Business Expenses If you’re considering a major investment in equipment

The Small Business Year-End Checklist

Just like spring cleaning your house, your business needs a good tidying and updating once a year. Make December the month you get organized, focused, ready and able to create more success than ever in 2019. Catch up on your bookkeeping.

Bookkeeping New Year’s Resolutions for a Smarter SMB

Are you hoping to be more profitable and efficient in 2019? Good bookkeeping habits can go a long way toward helping you achieve your goals. I will not mix business and personal bank accounts. It’s all too easy to pull out the business credit card

Best Books for Your Favorite Small Business Owner

You probably know someone who works very hard to make a success of their small business (or maybe that someone is you). This gift-giving season, help them work smarter with these 10 great reads. Written by world-renowned experts, they offer wisdom and

IRS Estimated Quarterly Tax Payments Basics

What Are Estimated Quarterly Taxes? This is how the IRS collects income tax from individuals and businesses who are not employees of another company. You will make payments using Form 1040ES (Estimated Tax for Individuals) or Form 1120-W (Estimated Tax for...

Outsource Your Accounting and Feel Better in the Morning

When they're first starting up, it's common for business owners to do everything themselves, including keeping the books — even if it isn't really their area of expertise. But as the business grows, it becomes necessary to delegate some tasks to others. At this point,...

Ins and Outs of Accounts Receivable for Small Business

You may call it bills receivable, or simply invoicing. By any name, it's crucial to the success of your business to get paid the money you're owed on a timely basis. Here are our top tips for effective accounts receivable management. Accounts Receivable Activities...