If you’re a small business owner, you know how difficult it can be to keep up with financials. You also probably know that little knot in the stomach entrepreneurs get when they think about it. The good news is that completing a compilation for your business can remove difficulty and untie knots. So, let’s take…… Read More

The Corporate Transparency Act (“CTA”) was enacted January 1, 2021, as part of the National Defense Authorization Act, representing the most significant reformation of the Bank Secrecy Act and related anti–money laundering rules since the U.S. Patriot Act. The CTA is intended to address and guard against money laundering, terrorism financing, and other forms of…… Read More

Compilations, reviews, and audits are hardly hot topics in the business world. If you’re like most small business owners, you’ve probably never heard of at least one of the three. That’s unfortunate because these services are to your business what exercise is to your health. Without them, you might function, but you’ll never excel. So,…… Read More

We’re only a few months removed from the 2023 tax filing dates for many types of business structures, so it may seem strange to talk about business tax refunds. However, if you think about it, this is a great time. You may still be mulling over what to do with yours. Or you may already…… Read More

If you’re new to business, you’re probably also new to quarterly taxes. The Internal Revenue Service mandates this if you expect to owe $1,000 or more in taxes for the year. That may sound like just another thing to do in an entrepreneurial calendar that is already too crowded. But there are advantages to this…… Read More

The recent IRS expansion discussed in last week’s post is aimed at wealthy individuals and large corporations. However, that doesn’t mean they’ve become complacent toward small businesses. The IRS press releases are littered with stories of small businesses that, knowingly or unknowingly, ran afoul of the IRS and paid stiff penalties. This week, we’ll take…… Read More

When the Inflation Reduction Act injected $80 billion into the Internal Revenue Service budget, the reaction was predictable. Polarized entities in politics and the media waxed hyperbolic about all the good or bad things that were to come for the American taxpayer. Almost two years in, the story doesn’t sell soap anymore, and few are…… Read More

Every day, millions of self-employed workers all across America convince themselves they don’t need a tax strategy. That’s a shame because they lose the opportunity to keep more of their hard-earned income and solidify their solopreneur lifestyle. Today’s blog post will debunk some of the most common tax strategy myths solopreneurs tell themselves. Let’s go!…… Read More

As a small business owner, you’re probably bombarded with emails and ads about tools to help grow your business. Ironically, the Internal Revenue Service provides one of the best ways: taxes.   That’s right, you can use taxes to your business advantage. And why not?  As Ben Franklin said, taxes are one of the only two…… Read More

Growing businesses often find themselves in personnel limbo when hiring new financial leadership. They need help but can’t afford a full-time Chief Financial Officer.  Enter the fractional CFO, which is just a fancy name for a part-time CFO.  Fancy names aside, a fractional CFO can provide your growing business with interesting options to smooth the…… Read More