What does Section 199A Qualified Business Income mean for S Corp Shareholders? There have been a lot of changes and uncertainties with the 2018 corporate tax changes. Since an S Corporation (S Corp) is a pass through entity, the corporation…
Read MoreThe Balance Sheet
The Balance Sheet The balance sheet is important because it’s essentially a company’s statement of financial position at a specific date. Investors, creditors, and other businesses use it to: calculate financial ratios, determine how much money the company has and…
Read MoreMaintaining Payroll
Maintaining Payroll The beginning of the year is behind us, but we still have a lot to look forward to. For one thing it means learning from last year’s mistakes and starting fresh. Chiefly, the payroll process is one area…
Read MoreShoebox Accounting: Reasons to Computerize
Getting Away from ‘Shoebox Accounting’ (Reasons to Computerize) In the business world, time means money. Accounting systems, or lack there of, can be extremely costly especially for businesses that use ‘shoebox accounting’. The colloquial term refers to the practice or habit…
Read MoreCan a Business Fully Deduct a “Luxury” Vehicle?
Can a Business Fully Deduct a “Luxury” Vehicle? The Internal Revenue Service provides criterion and regularly updated tables as guides for business vehicle deductions. The deductibility of a vehicle used for business purposes is subject to various limitations and rules. The examples…
Read MoreAre Software Costs Expensed or Capitalized?
Should Internally Developed Software Costs be Expensed or Capitalized? This appears to be a simple question, however, the answer is more complicated than one would expect. There are many factors that affect how internally developed software costs should be treated. …
Read MoreAre CPA’s Solely Tax Gurus?
Are CPA’s Solely Tax Gurus? The simple answer is no. Certified Public Accountants (CPA) are much more than just tax gurus. These professional accountants are trusted business advisors whose services are only limited by the expertise and experience of each…
Read More1099 or Employee?
Is your worker a 1099 or an Employee? The holidays will be over before you know it and it will be time to issue forms 1099 and W-2. How do you know which one you should issue? Have you paid…
Read MoreBudget for PBR’s and Price Proposals
Why Budgets are Important for PBR’s and Price Proposals Part 2 of a 2-part series Provisional Billing Rates and the Budget Provisional Billing Rates (PBRs) are crucial for government contractors. PBRs are the projected indirect cost rates, like fringe, overhead,…
Read MoreWhy a Small Business Should Have a CPA
Why a Small Business and Start-up Companies Should Have a CPA Accountants can assist with all stages of your business. Most entrepreneurs don’t realize the value a CPA can add to their business; accountants are not just for preparing payroll…
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