Tax Resources

As a business owner, you want to make sure that you’re doing what’s necessary under the law. You want to pay your taxes, file in a timely fashion, make sure you’re doing withholding taxes correctly, and more. For many businesses, a qualified accountant can take care of all of that with no problems. Yet, there are times when it might be beneficial to work with a tax attorney instead. A tax attorney has special training and qualifications that set her apart from your average accountant.

Here are some factors to consider when you’re deciding between a tax attorney vs accountant:

•If you need confidentiality from the legal perspective, a tax attorney may be the better choice.

There is any number … Read more →

If you’re just starting your business, you’ve got a lot of decisions to make. Not only do you need to figure out how you’re going to make your product or provide your service, but you also need to figure out where the money’s going to come from, what business form to take, and even carpet color for the office in some cases.

One of the important choices you need to make is whether you’re going to use cash basis accounting or accrual basis accounting. Both methods track your business income and expenses, but they work quite differently.

Cash Basis Accounting

The vast majority of small businesses operate on a cash basis. The way this method of accounting works, income is … Read more →

Bookkeeping is one of those tasks that small business owners love to hate. It’s a necessary evil; keeping on top of your books provides a number of benefits, but the lure of those benefits often simply doesn’t outweigh the tedium. So, for many small business owners, small business accounting updates happen once a year – in the mad scramble to get your taxes prepared.

Falling behind on your bookkeeping creates a number of problems. You need to understand the consequences of falling behind and take action today to get on top of your books and stay on top of them.

Here are some reasons you don’t want to get behind on your small business accounting:

• You Simply Don’t Know Read more →

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