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Co-written by Kevin Clark, CPA Cutting costs in your business can seem daunting, but it can also be an amazing opportunity to improve and grow and make your investment work better for you. A good accountant (especially a CPA) will start by asking a few questions to better understand your business and your objectives. Accounting is personal so try to be open and realistic with your plans and goals so that you get the best guidance possible. Before your appointment take some t

You can’t make everyone happy and that’s okay. You can treat everyone respectfully and do your best as a business owner to repair relationships with dissatisfied customers. Occasionally you will have someone who tries to take advantage of you, but for the most part people just want their expectations met when spending their hard-earned cash. Here are 5 ways to help you deal with customer complaints: 1. First, know the difference between venting a grievance and abusing you

Does it ever seem like your employees are just going through the motions each day? This can really put a drain on the entire atmosphere, bring down customer experiences and disrupt retention rates. It can make you lose out on great opportunities and loyal employees too. Let’s skip the pizza party jokes, assume you already know that appropriate pay is necessary, and that you treat employees kindly if they get sick or have a family emergency. Here are 5 ways to motivate employe

When you’ve already got a great product or service that you’ve poured your heart and soul into, it may be hard to switch gears to focus on building a website. Maybe your business is already thriving. Even the best business needs a strong online presence in today’s digital media driven world. The first step is setting up a great website that represents your brand and business. Before taking that first step make time to deeply consider how you would want your brand perceived by

“Just skip the payroll taxes and expenses, pay your worker’s straight pay and send them a 1099!” I’ve even heard other accountants say those exact words to employers, so when I’m advising a small business owner and they recite this money-saving strategy, I have to blow the whistle and at least throw out a caution flag (is that soccer, or NASCAR?). That’s what accountants do; we can’t help it. But seriously – did you know that there are rules and guidelines that the IRS uses

Do you ever get the feeling that common sense just isn’t very common after all? If you think the tax code is logical and reasonable, you may find yourself claiming expenses for your business that just aren’t deductible. Here, for your information, frustration, and amazement, is a list of the most common attempted deductions that the IRS disallows on a frequent basis. It is possible that some of these expenses could properly be shown on your financial statements and reports

It’s that time of the year, when all the good businesses and bosses are wishing their employees a happy holiday season and, hopefully, topping off the next paycheck with a little cheer in the form of a bonus. Payers and payees alike often have questions about the taxation of occasional bonuses – whether they are holiday gifts or performance-related, or just rewards for hard work in a busy season. Here are a few facts about how payroll taxes are calculated and paid on bonus p

Co-written by Kevin Clark When the year is coming to an end and it's the holiday season, the lights are going up, the shopping and traffic are humming, and small business owners are working hard. For many this is the busiest time of year and can easily become overwhelming instead of joyful. I’ve known and worked with small business owners throughout my professional career, and I’ve witnessed the drive and grit that it takes to finish out the year. You deserve to have time wit

Would you like the short answer first? YES! Here’s the “BUT”: Your benefits could be reduced if your total income for the year exceeds a certain amount, and your income may increase to the point that more of your benefits are taxable. It also makes a difference whether you’re receiving benefits before the full retirement age (67). Here are some details and examples of when your earnings may cause your benefits to be reduced: 1. For 2023, you can earn up to $21,240 i

Part 3 of 3: Easy Targets - Meals, Mileage, and Home Office deductions, soft audit targets for the self-employed. “Soft target” is a military expression, referring to something that is relatively unprotected or vulnerable to an attack. An audit on your tax returns by the IRS is clearly not a military attack, but it can be quite brutal if your business expenses are… “open to interpretation”, or not well supported. This is the 3rd of 3 articles we have posted to help busines