Is it a good time for a Roth conversion?
The downturn in the stock market may have caused the value of your retirement account to decrease. But if you have a traditional IRA, this decline may provide a valuable opportunity: It may allow you to convert your traditional IRA to a Roth IRA at a lower tax cost. Traditional vs. Roth Here’s what […]
Businesses will soon be able to deduct more under the standard mileage rate
Business owners are aware that the price of gas is historically high, which has made their vehicle costs soar. The average nationwide price of a gallon of unleaded regular gas on June 17 was $5, compared with $3.08 a year earlier, according to the AAA Gas Prices website. A gallon of diesel averaged $5.78 […]
What Is Small Business Accounting?
Even though a business may be small, it’s still important to keep track of its finances in a meaningful way in order to ensure its continued success. Every business owner wants to be sure he or she is using the resources of the business in the most efficient way, is making the smartest tax decisions, […]
What Is a CPA Firm?
A CPA firm is an accounting firm with at least one Certified public accountant (and perhaps more) who are licensed in their state. The benefits of hiring a CPA firm is that they are highly-qualified and knowledgeable on accounting practices. They can help you to take your business to the next level and offer valuable […]
Top Small Business Tax Mistakes
Filing your business income taxes each year is an occasion you may not always look forward to, but nevertheless, it must be done. If you are finding it too difficult and confusing or if you have doubts about whether or not you’re using all the deductions you could, it may be wise to hire a […]
Strategic Planning in Modern Business
The environment of modern business has changed drastically over the past few decades due to rapid advancement of technology, demographic changes, and developing trends. Keeping up can be difficult and sometimes the old rules for success no longer apply. However, as they say, “those who fail to plan, plan to fail”. That’s why strategic planning […]
Questions to Ask Before You Hire a Bookkeeper
If you own a business and want to focus on pursuing goals for future growth, hiring a bookkeeper can save you time and give you a more accurate picture of your company’s financial status. But when you’re getting ready to hire, you need to ask the right questions to find out if the bookkeeper you’re […]
How to Handle an IRS Audit
If the IRS audits your business tax return, they will want to take a closer look at whether you included all your income and if you took the proper deductions or credits. These audits aren’t random as they choose returns that are more likely to have errors. They have three years from the date of […]
How to Find the Best Tax Preparer Near You
When you file your income taxes, you want to be sure it’s done accurately and that you get the largest refund possible or at least have to pay the smallest possible amount. Finding an excellent tax preparer is one way to do this, but how can you find one near you who will charge you […]
How Much Does it Cost to Have Someone Do Your Taxes For You?
Very few people actually relish the thought of doing their own taxes, so hiring someone else for preparation of the annual tax return is a popular option. There are a variety of tax preparers to choose from, some who are more qualified to handle complex financial situations than others. You can hire an actual attorney […]
