Tax & Bookkeeping Hacks for Entrepreneurs

Yep, you can write that off! We’re here to help you maximize your profits, minimize your tax liability, and tap into the right tax deductions for your small business. 

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quarterly taxes

With tax season right around the corner, this is the time of year that many business owners are thinking about taxes. Do you want to reduce your taxes? Of course you do. One way of doing this is implementing tax deferral strategies. But what does that even mean? Tax deferral means taking a deduction and […]

Savings & Retirement, Tax Deductions

Year-end Tax Deferral Strategies

As a small business owner, one of the most critical decisions you’ll make is how to pay yourself. It’s not just about deciding how much but also about choosing the right method that aligns with your business structure and tax obligations. Whether it’s through draws, guaranteed payments, salary, distributions, or dividends, understanding these options can […]

Business Tips

How to Pay Yourself as a Business Owner

During the COVID-19 pandemic, the Employee Retention Credit (ERC) became a financial lifeline for businesses. It helped companies continue to pay employees while dealing with a drop in revenue. Unfortunately, the credit also opened the floodgates to a slew of fraudulent and improper claims. Even after the credit officially ended, “ERC mills” continued aggressively marketing […]

Business Tips, Tax Deductions

Filed an Employee Retention Credit Claim? Prepare for an IRS Audit

Are you thinking about hiring some help for your business? Or maybe you already have? It’s important to understand and correctly apply the rules for classifying a worker as an employee or an independent contractor. For federal employment tax purposes, a business must examine the relationship between it and the worker. The IRS Small Business […]

Business Tips

Employee vs. Contractor

With tax season just a couple months away, it’s time to get organized and prepared to tackle this not-so-fun side of being an entrepreneur. I know that taxes can be confusing and feel overwhelming, especially to business owners. I know that sometimes figuring out what can be deducted and how to file taxes accurately can […]

Business Tips, Quarterly Estimated Taxes, Tax Deductions

4 Must Do’s Before Tax Season

Payroll—it’s one word that can cause even the most seasoned business owners anxiety. Whether you’re dealing with payroll tax complexities or ensuring you comply with the latest labor regulations, managing payroll can feel like navigating a maze. But don’t worry! The right payroll software can make the daunting task of payroll management significantly simpler and […]

Business Tips

9 Essential Payroll Software Features

Small business owners understand how complex and overwhelming managing their bookkeeping, business finances and taxes can be. In fact, many of them go it alone. According to OnPay’s Small Business Finance and HR Report, only about 30% of small business owners work with an accountant and many that do tap their accountant’s expertise only do […]

Business Tips, Quarterly Estimated Taxes, Tax Deductions

5 Questions to Ask Your Accountant

Chances are, your business will soon face a new compliance requirement: FinCEN’s Beneficial Ownership Information reporting requirements, also known as BOI reporting. This new requirement takes effect on January 1, 2024, and it could be tricky for business owners who aren’t aware of the reporting requirements and familiar with the kind of information these reports […]

Business Tips

How to Prepare for FinCEN’s BOI Reporting Requirements

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