Hiring the best virtual Certified Public Accountant (CPA) is an essential step for your business’s financial stability. Finding the right CPA for your business requires a discerning approach, and we recognize the complexity involved in the process. This article provides…
January is a busy month for accounting departments, filled with the year-end closing of the financial books and several tax filing deadlines. For businesses that utilize the services of independent contractors and vendors, 1099 filing requirements are an essential consideration….
In 2009, when cryptocurrency (“crypto”) emerged, it raised many questions among investors and the accounting community alike about how to tax it, as it was a novel concept. Since then, the Internal Revenue Service has released guidance that clarifies the…
Cryptocurrency has garnered significant media attention in the last few years. This is especially true after cryptocurrencies experience large price increases, as has occurred several times over the last ten years. For Bitcoin, the most widely used and recognized cryptocurrency,…
The business landscape is ever evolving, and as such business owners must continuously evaluate ways to improve the efficiency of their operations. With the advent of remote work software, one relatively new resource gaining popularity is virtual Certified Public Accountants…
A limited liability company, also called an LLC, is one of the most popular business entities, as discussed in our article Choosing the Right Business Structure. LLCs are relatively easy to set up and provide business owners with the flexibility…
Many businesses will reach a point at which they need to hire help. At this time, they must decide whether to hire employees versus independent contractors. The difference between these classifications has important legal and tax implications. Understanding the differences…
Embarking on an entrepreneurial journey can be an exciting endeavor. However, it requires important decisions early on. One of the first crucial decisions a business owner must make is how to legally structure their business. The choice, also known as…
If you are a business owner who uses your car, van, or pickup truck frequently for work-related travel, you may have heard that you can deduct certain car-related expenses on your tax return. In some cases, this can be one…
You may have heard that you can hire your children as a legitimate way to reduce tax liability. This recommendation may seem like an appealing way to save on taxes and start teaching your kids about business. However, there are…