As a small business owner, you have a million questions running through your mind each day—and typically, it’s up to you to answer them! However, having a business accountant comes in handy for those questions you can’t answer on your…
Read MoreIncome Statement
Understanding the Income Statement The income statement is one of the basic financial statements that disclose the financial performance of a company. Profit and loss statement (P&L), statement of income, and statement of earnings are other names for the income…
Read MoreAccrual Accounting Vs. Cash
Cash vs Accrual Accounting You have finally taken the leap and started the business you have always dreamt about. However, now you must make one more tough decision: what accounting method should your business follow: cash or accrual accounting? Accounting…
Read MoreBusiness Owners: Accounting Checklist
End of the Year Accounting Checklist One of the things that you will need to do for your business at the end of the year is to close the books. If you have been keeping them up-to-date using generally accepted…
Read MoreCash Flow: Keeping It Positive
How to Keep A Positive Cash Flow Up While Waiting for a Payment Congratulations! Your company has just been awarded a government contract. You have accomplished the first step toward a successful business. Now the company needs to deliver the…
Read MoreLiquidity Ratios: Current vs. Quick Ratios
Current Ratio vs. Quick Ratio Liquidity ratios are an important tool used to measure how efficiently a company can pay off its debt. The most common liquidity ratios used are the current and the quick ratio. These ratios help investors…
Read MoreTax Changes in 2018 That Will Impact You
Tax Changes in 2018 That Will Impact You There have been a lot of rumors and speculations in the past year regarding potential tax changes. At the close of the tax year, it is hard to know what is fact…
Read MoreS Corp Shareholders: Section 199A Qualified Business Income
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 MoreHow Can the HUBZone Help?
How Can the HUBZone Help? The world of government contracting can be a difficult world to establish a new business, especially a small business. This has been addressed through the ‘Small Business Reauthorization Act of 1997’. As a result, the…
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 More