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An Overview of Accounting in Health Care Industry

Health care is one of the largest industries in the United States. According to the Centers for Medicare and Medicaid Services (CMS), total U.S. health care spending now exceeds $4 trillion per year. Medical practices and other businesses operating within the health industry have some unique accounting needs. Here, our medical industry business accountants provide …

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Tax Preparation, Tax Resolution

Five Tax Preparation Tips for Businesses

Tax time is fast approaching for businesses. The due date for federal business taxes depends on the specific type of entity in question. The Internal Revenue Service (IRS) notes that the business tax returns are due on the following dates for 2022:  March 15th: Partnerships, S-Corporations, and multi-member LLCs;  April 15th (April 18th Due to …

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Accounting, Bookkeeping, Tax Preparation, Tax Resolution

Heavy Highway Vehicle Tax

Owning and operating a successful trucking company can be challenging—particularly in today’s hyper-competitive market. It is crucial that your business complies with all federal and state tax regulations, including the Heavy Highway Vehicle Tax.  At Williams Accounting & Consulting, we specialize in helping truck company owners navigate complex tax matters. In this article, our trucking …

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Accounting, Bookkeeping, Business Consulting, Tax Preparation

Measuring True Expenses of Operating a Trucking Business

With record high demand expected over the next several years, trucking can be a lucrative industry for qualified entrepreneurs. At the same time. trucking is a complex, highly regulated industry. One of the biggest challenges that truck company owners and operators face is navigating tax issues. It is crucial that you accurately measure (and record) …

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Accounting

Debt vs. Equity Financing: Which is Better for Your Business?

Building and growing a successful business is never easy. You may need an infusion of outside capital to start or expand your operations. There are two main ways that businesses raise money:  Debt financing; and Equity financing.  There are advantages and disadvantages to each option. Which one is better for a business depends on many …

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Accounting, Tax Resolution

What Triggers an Audit from The IRS?

There are few things more stressful and frustrating than finding out that you are facing a federal tax audit. As unnerving as it can be, it is important to remember that an audit does not mean that you did anything wrong. The Internal Revenue Service (IRS) defines a tax audit as a “review/examination of an …

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Accounting

How Much is the Heavy Highway Vehicle Tax?

Do you own and operate your own trucking company? If so, it is crucial that you have the proper accounting system in place to protect your financial interests. Running a trucking company can be complicated—especially when it comes to tax matters. The Heavy Highway Vehicle Use Tax is one of the most important taxes that …

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Accounting, Bookkeeping, Payroll

Why Doctors Need Accountants

Doctors have a lot on their plate—even more so when they own and operate their own medical practice. After a long day of work, the last thing that most physicians want to do is spend time sorting out the financial books for their business. Of course, proper bookkeeping and accounting is absolutely essential to the …

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Bookkeeping

What is Medical Bookkeeping?

Medicine is one of the most important industries in the United States. Hospitals, physicians, and other medical practitioners help people get better when they are unwell. The medical industry is also highly competitive—owning and operating a successful medical practice is not easy.  All medical industry businesses and professional medical practices need well-maintained financial books. In …

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Bookkeeping

Do Truck Drivers Need Bookkeepers?

As a truck driver, owning and operating your own business has the potential to be highly lucrative. According to a report from Trucks.com, independent truck drivers (owner-operators) earn more on average than company drivers. At the same time, owning and managing your own trucking business can be challenging. There are a lot of issues that …

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