Accurate Inventory Numbers are Crucial for your Business
For many companies, inventory is a significant dollar amount on the company’s financial statements. So it’s crucial that recorded inventory balances reflect actual values. Read more
Posts
Every New Business Needs a Record System
Many small start-up businesses are off and running before any record system has been set up. There is money deposited into the new business checking account, some from invested funds and some from sales. Money has been paid out for equipment and supplies, some by check and some by cash out of pocket or from sales receipts. Read more
Keep Your Records Safe in Case Disaster Strikes
WASHINGTON – IRS SPECIAL EDITION TAX TIP 2014-15 – Some natural disasters are more common in the summer. But major events like hurricanes, tornadoes and fires can strike any time. It’s a good idea to plan for what to do in case of a disaster. You can help make your recovery easier by keeping your tax and financial records safe. Here are some basic steps you can take now to prepare: Read more
Every Small Business Should Establish Controls
Every week reporters publish stories about companies that have lost thousands, even millions of dollars because of fraud. They recount the dreadful details of business owners who learned – too late – that a lack of basic controls left their companies vulnerable to pilferage, embezzlement, and other types of misappropriation. Read more
Simplify Your Tax Recordkeeping
Did you spend hours pulling together your tax records in preparation for filing your 2012 tax return? It doesn’t have to be that way. Avoid the problem next year by taking a few simple steps now. Read more
IRS Offers Tax Tips for “The Season of Giving”
WASHINGTON – IRS Special Edition Tax Tip 2012-15 – December is traditionally a month for giving generously to charities, friends and family. But it’s also a time that can have a major impact on the tax return you’ll file in the New Year. Here are some “Season of Giving” tips from the IRS covering everything from charity donations to refund planning: Read more
Recordkeeping Tips from the Pros
If you want to give your tax recordkeeping skills a performance boost, do what accounting professionals do. Read more
Organizing Tax Records This Summer Can Help You Keep Your Cool
WASHINGTON – IRS Summertime Tax Tip 2012-16 – If the sweltering dog days of summer aren’t incentive enough to get out of the sun for awhile, the IRS suggests another reason to head indoors: organizing your tax records. Devoting some time mid-year to putting your tax-related documents in order may not only keep you out of the sun, but it should also make it easier for you to prepare your tax return when the filing season arrives. Read more
Partners Need a Written Partnership Agreement
If you are operating your business as a partnership, you should have a written partnership agreement. This is true for family partnerships as well. Read more
Tax Questions After You File Your Tax Return
Once you have filed your 2011 tax return, you may still have a few tax questions. The IRS provides these answers to commonly asked questions. Read more