Blog

October 8, 2018

Key Benefits of Outsourcing Your Accounting and Bookkeeping Functions

The primary goals of businesses are to reduce overhead and increase productivity. One way to achieve these goals is to outsource the company’s accounting tasks to a third party. Here are five benefits of hiring a third-party company to manage your organization’s accounting. Decreased Costs When hiring in-house accounting professionals, […]
August 31, 2018

What to Know if You Want to Start Your Own Business

When starting your new business there are several important decisions you will have to make. This includes your business type, your customer base, location, marketing strategy, staff hirings, and so on. However, despite hard work and dedication, 30% of new businesses fail within the first two years of opening. A […]
July 5, 2018

The 20% Domestic Production Activities Deduction Replaces the 9% Domestic Production Activities Deduction

Section 199 of the US Tax Code defined the requirements for a business to take a tax deduction for certain production activities. This part of the tax code was designed to encourage business to start or expand manufacturing businesses in the United States. This was usually called the Domestic Production […]
May 27, 2018

What’s the Difference Between a Professional Accountant and a Bookkeeper?

Many business owners assume that bookkeeping and accounting are the same, but there are a few very important differences between the two occupations. Understanding the differences in how accountants and bookkeepers help support your organization’s financial goals is the key to investing your time — and money — wisely. Below, […]
April 13, 2018

How Will the New Tax Laws Affect Performing Artists?

The recent changes to the federal tax law have seen a lot of modifications made to existing deductions, deduction limits and other tax write-offs. One change in the 2018 Tax Cuts and Jobs Act is the ability for actors to deduct their expenses. The changes going into effect remove the ability […]
March 30, 2018

IRS STATUTE OF LIMITATIONS FOR COLLECTIONS, REFUNDS AND AUDITS

The term statute of limitations is defined as the time frame for which a legal entity can bring legal action towards specific parties. In the case of federal taxes, there are clearly defined time frames concerning the collection of taxes due, audits, and the issuing of refunds. Below is a […]