Category Archives: Accounting

Schedule Consultation

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 …

Read More

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 …

Read More

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 …

Read More

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 …

Read More

Accounting, Bookkeeping

What Can Owner Operators Write Off?

An owner-operator is a truck driver who owns their own business. For owner-operators, building a budget is critically important. You need to make sure that your business accounting is done properly so that you are in the best position to take advantage of all available tax deductions.  This raises an important question: What can owner-operators …

Read More

Accounting, Business Consulting, Tax Preparation, Tax Resolution

How to Build a Budget as an Owner-Operator

Trucking is one of the most important industries in the country. According to data published by the United States Census Bureau, there are more than 700,000 trucking businesses nationwide. Independent owner-operators make up a significant portion of truckers. It can be an excellent business opportunity. A 2019 report from Convoy.com found that the average owner-operator …

Read More

Accounting

What are the Basics of Payroll Accounting?

For an employer, running payroll involves the issuing of checks & direct deposits, the handling of payroll deductions/contributions, and the tracking of expenses. While it can be a frustrating and time-consuming task, payroll is extremely important. Companies that fall behind on their payroll end up facing serious problems, potentially even legal sanctions.  Accounting is the …

Read More

Accounting

What is the Difference Between an Accountant and a CPA?

Are you looking for professional financial help for your business or organization? If so, you may be considering hiring an accountant or a CPA. This raises a common question: What is the difference between an accountant and a CPA? There is an important distinction. Although all CPAs are accountants, not every accountant is a CPA. …

Read More

Accounting, Tax Preparation

What Do I Need To Give My Accountant For Small Business Taxes?

For small business owners, dealing with tax issues can be a real headache. As noted by the Internal Revenue Service (IRS), business taxes fit into five broad categories: Income taxes, estimated taxes, self-employment taxes, employment taxes, and excise taxes. Of course, within those categories are many different complex issues.  To ensure that your company is …

Read More
decrotive photo of levels
Photo of attorney Donald Williams

Are you ready to work with us?

Let’s Talk!