Category Archives: Accounting

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Accounting

How to Reduce Taxable Income for Small Businesses

As an owner of a small business, various questions will almost certainly cross your mind. How much am I supposed to pay for the tax? Why am I paying a specific amount of money? Is there a way I can reduce the taxable income? This is normal because the last thing you would want is...

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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...

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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....

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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...

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Accounting

COVID-19 Relief Bill PPP Loan Assistance: What You Need to Know

On December 21st, 2020, Congress passed a $900 billion COVID-19 relief bill. A week later, the bill was signed into law by President Trump. A comprehensive package, the latest COVID-19 bill includes a new round of Paycheck Protection Program (PPP) loans through the Small Business Administration (SBA).  If your business is closed or operations are...

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