Businesses can generally deduct their "ordinary and necessary" business expenses. But even if an expense is legitimate, it's not deductible unless it's adequately substantiated. Typically, substantiation requires proof of...
Most business owners know that sustaining a steady cash flow through the ups and downs of economic cycles is key to a business's long-term success. But when you're coping with an unpredictable economy and the many complexities of running a business, it's easy to...
Most companies with more than one owner should have a buy-sell agreement in place. Here are some of the key considerations involved in developing this legal document. BENEFITS TO REAP A well-designed buy-sell agreement provides many benefits, including: • Keeping...
Do you own a small business? If so, you may qualify for a variety of tax breaks that can slash your tax bill and reduce your administrative costs. And thanks to the Tax Cuts and Jobs Act, “small” is a lot bigger than it used to be. Previously, for tax purposes, small...
The median loss due to occupational fraud is $160,000 ($231,000 for privately-held companies.) In a recent study, 42% of victims were privately-held companies, and almost 40% of those cases involved companies with less than 100 employees. The vast majority...
Your [bankers, board members, shareholders] need the audited financial statements yesterday! The auditors said they would be done by now, but they’re not. Sound familiar? Audit projects fall behind schedule for a variety of reasons. In our experience, however, the...
As Certified QuickBooks ProAdvisors, we have experts on staff who have been tested and certified by Intuit on a range of QuickBooks products. We help clients get the most out of QuickBooks with a range of services, including setup, training and...