Do I need a CPA for my small business?
Generally, a small business doesn’t need to hire a CPA or accountant. However, a CPA is needed when a small business must have financial statements prepared to get a bank loan, to bid on a job, to apply for a grant, or other legal reasons. A small business can utilize a CPA to help evaluate […]
Do I Have to File a Trust Tax Return?
If you have assets that are held in a trust, you may have wondered whether or not you’ll have to pay taxes on them. In most cases, this depends upon the type of trust you have, and whether or not the grantor of the trust is still alive. A trust is a legal agreement that […]
Why do partners sometimes report more income on tax returns than they receive in cash?
If you’re a partner in a business, you may have come across a situation that gave you pause. In a given year, you may be taxed on more partnership income than was distributed to you from the partnership in which you’re a partner. Why is this? The answer lies in the way partnerships and […]
CPA vs. Accountant
Finances are an integral part of your business, so choosing the right professional to handle them is important. When it comes to accounting, you’ll want to choose between a CPA or an accountant. Each has different roles to their job. Understanding the differences will help you to make an informed decision for your business. What […]
