Five Tips to Make Tax Time Painless

Tax time is probably not your favorite time of year, especially if you have to pay the government your hard-earned dollars. Here are five tips on how we can make it just a bit less painful.   1. Have patience.   Practicing patience will go a long

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How to Write Your Mission Statement

A mission statement isn’t just for a large corporation. As an owner of a small business, you can benefit from going through the exercise of writing your mission statement. This exercise can re-connect you with your “why”.  As a result ,  it can also communicate an important part

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The Perfect Chart of Accounts for Your Business

Your “Chart of Accounts” is the list of accounts in your accounting software.  The accounts are listed in your reports, and the totals allow you to determine how much you’ve spent, made, own, or owe depending on the type of account. It’s essential to create a list

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What Is Reasonable Compensation?

For small businesses formed as an S Corporation and with plenty of profits, reasonable compensation is a term you may want to be familiar with. S Corporations Many small businesses have organized as an S Corporation form of entity.  The S Corp election allows a business owner

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When Do You Need an Accountant for Small Business?

    When should you involve an accountant in your small business? Simply put, all business owners should consider getting an accountant involved before they even launch their business.   Having an accountant involved from the beginning will help alleviate, or avoid, headaches and make sure you

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Eight Ways to Increase Your Profits

Increasing your profits might sound like it’s an unattainable dream just out of your reach. But there are a finite number of ways that profits can be increased. Once you understand what they are, you’ll have clarity on how to best reach your goals. There are two

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