Many taxpayers are under the assumption that it’s bad to delay filing your taxes by filing an extension. While individual tax returns are due April 15 each year, you can file an automatic 6-month extension so that the return is…
5 Ways to Rejuvenate, Refresh, and Revive Your Entrepreneurial Passion
Most entrepreneurs would agree that owning a business is an incredible privilege, and they would likely never want to go back to working for someone else. However, we all have our days! And sometimes those rough days can turn into…
Test Your Financial Resilience
There’s more to being financially resilient than simply saving enough money for a rainy day. A part of being financially responsible is maintaining good financial records – and making sure people who need access to your records know where to…
Protecting Yourself from Supply Chain Shortages
The past few years have seen major kinks in the supply chain due to a number of reasons: aberrant buyer behavior, source material scarcity, government shutdowns, and worker shortages, to name a few. What can a business owner do to…
Processing Delays and Backlogs at the IRS
The pandemic shutdown in 2020, staffing shortages, budget limitations, and numerous tax law changes have converged to cause a snowball effect on the IRS’s ability to process returns in a timely manner. Both taxpayers and tax professionals have been heavily…
How Variance Reporting Can Keep Your Profits on Track
While there are literally hundreds of accounting reports that can help you run your business better, one of the most popular – and greatly underutilized – reports is the variance report. A variance report helps you compare how you are…
A Quick Guide to Understanding Accounting Software
Transport yourself back in time 50 years. An accountant sits at their desk with several big heavy ledger books in front of them. Their sharpened Number 2 pencil is posed in their hand, carefully recording numbers on scored ledger paper.…
Five Ideas to Attract Staff During the Great Resignation
You’re not alone if you’re having trouble attracting and keeping staff. A convergence of issues has created one of the greatest talent shortages in our lifetimes. With boomers retiring in large numbers, pandemic and opioid deaths, people not wanting to…
What’s in Store for 2022?
The last few years have been unlike any other in our lifetimes. As we close out 2021 and enter 2022, it’s the perfect time to reflect on what we’ve learned, what’s happening now, and what we want to accomplish in…
IRS Letter About Advanced Child Tax Credits
The IRS announced that it will be sending out letters to everyone who received advance Child Tax Credit payments. Please be on the lookout for this letter and DO NOT throw it away. IRS Letter 6419 will go out January…