You have your 2018 tax return filed, or perhaps on extension, and now it is time to look forward to the changes that will impact your 2019 return when you file it in 2020. Keeping up with the constantly changing tax laws can help you get the most...
More InfoAll the Expert Tips You Need to Properly Manage Cash Flow for Your New Business
In the largest possible sense, handling the cash flow for your new business is exactly what it sounds like ‒ you’re trying to get the clearest level of visibility into “money coming in versus money going out” as possible. But managing cash flow...
More InfoGet Those Kids a Job, and Take Advantage of Tax Breaks
Children who are dependents of their parents are subject to what is commonly referred to as the kiddie tax. This generally applies to children under the age of 19 and full-time students over the age of 18 and under the age of 24. The kiddie tax...
More InfoWhat Are My Chances of Being Audited and How Can I Reduce Them?
First, don’t panic. Audits are relatively rare, as fewer than 1% of taxpayers grouped by income level will get that dreaded notice on IRS letterhead. Per the linked statistics, for the average American who earned $50‒70K per year, only about half...
More InfoYour Small Business Survival Guide for If (and When) the Economy Slows Down
According to one recent study conducted by the Small Business Administration, there are approximately 28.8 million small businesses in the United States that are collectively responsible for about 99.7 percent of all economic activity in this...
More InfoHow to Determine a Business’s Health by its Net Profit Margin
Determining a company’s net profit margin is valuable because this calculation gives a business and its financial officers a strong picture of the company’s profitability. Defining Net Profit Margin Net profit margin determines the...
More InfoHow to Create Cash Flow Projections and Profit & Loss Statements
When it comes to making cash flow projections, we’re all aware that it’s not an exact science. One of the main difficulties about accurately projecting cash flow has to do with timing. Examples include factoring in overhead such as payroll...
More InfoWhat is an IRS Penalty Abatement and Am I Eligible for One?
There are different types of IRS penalties that can be assessed against you. The most common penalties include those for failing to file a tax return, filing your return late, or accuracy-related penalties if you didn’t correctly state items on...
More InfoIs Your Small Business as Profitable as It Can Be? It’s Time to Find Out
There is an excellent chance that even if you’re an expert in your particular industry, you’re probably not an expert in small business finances. This may not seem like that big of an issue on the surface. However, in order to make...
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