Recent Blogs and Insights

Taxation

What is Form 1099-K? A Guide for Online Business Owners

If you sell products on platforms like Amazon or Etsy, provide services via freelancing platforms, or process payments through systems like PayPal…

February 5, 2025

Finance & Accounting

What is Depreciation? How It Is Calculated?

As a business owner, you invest in machinery, company vehicles, and even office equipment to run your business. With time, these assets…

January 29, 2025

Finance & Accounting

Accounts Receivable: How to Improve Your Chances of Getting Paid

The accounts receivable process serves as the backbone of any business’s financial health. It directly impacts your ability to operate and grow.…

January 16, 2025

Bookkeeping

Your Step-by-Step Guide to Transitioning to an Outsourced Bookkeeping Model

Outsourced bookkeeping is a strategic business approach that helps busy small and medium-sized business owners efficiently manage their financial records. The process…

January 7, 2025

Finance & Accounting

12-Step Accounts Cleanup Process for Solopreneurs and Small Business Owners

If you have employees, review your employees’ payroll records to ensure they are paid correctly and the records comply with tax laws.…

December 30, 2024

Taxation

5 Year-End Tax Planning Strategies to Set Your Business for Success

As the Year 2024 approaches its conclusion, many small businesses are preparing for a promising new start. For this, one must first…

December 23, 2024

Finance & Accounting

GAAP in Accounting: Why is It Important for Success in Business?

Financial statements play a crucial role in managing your business’s health. Whether it’s disclosures, balance sheets, or income statements, accurate financial reporting…

December 13, 2024

Taxation

Maximize Your Tax Savings with Qualified Business Income Deduction (QBID)

Small business owners as well as self-employed individuals are always on the lookout to minimize their tax liability. Whether it is through…

November 27, 2024

Outsourcing

Mastering Outsourcing: 8 Tips to Successfully Manage Your Complex Business Operations

Most small and mid-size businesses often operate on a boot-strapped budget. They juggle limited resources and try to manage operations and growth…

November 27, 2024

Taxation

Top 10 Tax Credits That Every US Business Owner Must Know

When saving your tax bill, Tax Credits offer the easy way out. They are the financial rewards that the IRS provides to…

November 18, 2024

Finance & Accounting

A Handy Year-End Checklist for Small Business Owners

Wrap up your year with confidence. We bring to you a quick accounting and bookkeeping checklist that can not only help you…

November 14, 2024

Taxation

What are Deferred Tax Assets and Deferred Tax Liabilities? How They Impact Your Business Finances

Have you ever wondered why your company’s tax bill doesn’t always match your financial statements? Or why sometimes your business seems to…

October 30, 2024

Taxation

What are Unrealized Capital Gains? How Do They Get Taxed?

Investing can be exciting, especially when you see your account balance climbing up the ladder. But does all that growth mean more…

October 21, 2024

Finance & Accounting

5 Accounting Services to Outsource for a More Organized Business Environment

Accounting services form the backbone of every business, and for good reason. Proper financial management not only keeps your business on track,…

October 7, 2024

Taxation

What is ERC? How does the Employee Retention Tax Credit Work

The Employee Retention Credit (ERC), also known as Employee Retention Tax Credit (ERTC) is an IRS tax credit that was created to…

September 24, 2024

Taxation

Understanding Cryptocurrency Taxes – What They Are and How They Get Taxed

Cryptocurrency is a digital asset or a virtual currency that’s designed to act as money. It works through a computer network and…

September 17, 2024

Taxation

Marginal and Effective Tax Rate – What’s the Difference?

When it comes to tax planning and return preparation, two concepts often confuse most of us – the marginal tax rate and…

September 11, 2024

Taxation

Payroll Tax vs Income Tax: Understanding the Key Differences

Taxes can be confusing, but knowing them is essential for managing your finances effectively and staying compliant with government regulations. In this…

September 7, 2024

Finance & Accounting

Cash Flow Vs. Profit: What’s the Difference (& Why It Matters)

Are you a small business owner who focuses on the bottom line? Read on to find out what parts of the financial…

August 30, 2024

Taxation

What is the Child and Dependent Care Tax Credit & How Much It Could Save You?

Whether you’re paying for preschools, summer day camps, after-school programs, or daycare, childcare expenses can take up a large slice of your…

August 27, 2024

Finance & Accounting

Cash vs Accrual Accounting: Decoding the Difference

When running a business, different accounting methods can help you understand different aspects of the business better. We explore the differences between…

August 23, 2024

Taxation

How to Resolve Tax Problems

Do you think your work ends with filing your tax returns? It may not. In this article, we delve into the types…

August 21, 2024

Taxation

Understanding Tax Deductions: Itemized vs. Standard Deductions

Applying deductions can help you reduce your tax bill. In this article, we help you understand what type of deductions to choose.…

July 29, 2024

Taxation

Decoding IRS Penalties: A Quick-Fix Guide to Reducing Tax Penalties

Who doesn’t find filing tax returns a daunting task? We decode penalty clauses for you and help you avoid or reduce tax…

July 25, 2024

Finance & Accounting

How to Prepare an Accurate Balance Sheet for Your Business? 8 Essential Steps

A balance sheet is the blueprint of a company’s financial position. One of the most important financial documents depicts the total assets,…

July 23, 2024

Finance & Accounting

Internal Audit Vs External Audit: Understanding the Key Difference

Internal and external audits are complementary processes that vary in scope, purpose, and the benefits they bring to organizations. Both internal and…

July 5, 2024

Bookkeeping

Accounting Clean-Up: Why Clean Books Accounting is Important for Your Business

Businesses frequently encounter disorganized and error-ridden data in their records. This sets them up for the critical task of cleaning the records…

June 27, 2024

Bookkeeping

Bookkeeping vs Accounting Services: What’s The Difference?

To those unfamiliar with the financial world, bookkeeping and accounting are two terms that sound similar. This is because they both involve…

June 24, 2024

Finance & Accounting

What is Business Accounting? How to Manage Small Business Accounting?

Business accounting is the systematic process of recording, analyzing, and reporting a company’s financial transactions. It is the backbone of financial management…

June 7, 2024

Payroll

10 Payroll Processing Best Practices Every Small Business Owner Should Follow

Compensating your employees accurately and on time is not only a legal obligation but also a moral responsibility and a testament to…

April 29, 2024

Bookkeeping

7 Essential Bookkeeping Tips for Small Business Owners

For successful business operations, systematically recording every business transaction is important. Known as “Bookkeeping”, this practice gives small business owners an in-depth…

March 29, 2024

Finance & Accounting

How Outsourcing Finance and Accounting Can Propel Your Business Forward

In today’s fast-paced business landscape, companies are constantly seeking ways to streamline operations, enhance productivity, and remain competitive. One effective strategy gaining…

February 14, 2024

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CEO, Real Estate Firm

The payroll processing service we were using before was a nightmare. Since the switch, we’ve experienced a world of difference. Their team is knowledgeable and responsive, and they’ve helped us streamline our payroll process. We’re grateful for their support.

Eamon S

Restaurateur

Thank you for making my fixed asset management so much easier. With your service, I now know exactly where my machinery is and how it is deployed. Your maintenance scheduling service has ensured that there is minimal downtime, saving my business time and money.

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CEO, Large Engineering Company

Thank you for expertly handling all of my bookkeeping and accounting tasks. Your accurate and timely financial reports have helped me make informed decisions for my business. You have been a game-changer for me.

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