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Better Guidance for Business Owners

By |2021-02-01T19:08:45-06:00January 29th, 2021|Categories: Accounting, Better Guidance, Business, Consulting, Growth, Professional Etiquette, Smarter Decisions|Tags: , , , , , , |

As a business owner, you have the opportunity to grow your business purposefully and instill trust and confidence in your clients. I've worked with many business owners in my professional career and I've noticed a few key strategies that I'd like to share with you on your path to business success. Embrace Change and Adapt Those [...]

Networking for New Accountants: Lose the Stress

By |2021-01-04T15:33:10-06:00January 4th, 2021|Categories: Accounting, Communication, Growth, Leadership, Positive Focus, Smarter Decisions, Values|Tags: , , , , , , , , , , , |

Public speaking can be an extremely stressful event at any stage of your career. Not to say that a green accountant fresh out of college has it any worse, but they may lack a few of the key factors that can make it just a little easier. For example, new accountants lack the knowledge, experience, and [...]

Renting Space in Your Home: What You Need to Know

By |2021-01-17T19:46:34-06:00January 4th, 2021|Categories: Accounting, Better Guidance, Business, Communication, Consulting, Smarter Decisions, Tax|Tags: , , , , , , , , , , , , |

Renting out a portion of your home can add income and help pay off your house. You can rent out your garage as a storage unit or part of your home to a small business or tenant. If you rent part of your main home, you must claim the rental income as part of your total [...]

Form 1099-MISC & 1099-NEC – Changes and Best Practices

By |2021-01-18T20:05:51-06:00December 30th, 2020|Categories: Accounting, Business, Communication, Government & Policy, Smarter Decisions, Tax|Tags: , , , , , , , , , , , |

Every year, businesses must issue 1099s to individuals and partnerships for payments issued of $600 or more for items such as rent, other income, contract labor, and payments to attorneys. Starting January 2020, payments for non-employee compensation, box 7 of 1099-MISC, will now be issued on the new form 1099-NEC box 1. Determining who must receive [...]

New Business Owners: The Accounting Partner You Need

By |2020-12-30T17:43:22-06:00December 30th, 2020|Categories: Accounting, Better Guidance, Business, Communication, Consulting, Growth, Professional Etiquette, Smarter Decisions|Tags: , , , , , , , , , , |

You have your business idea, the concepts laid out, and you’ve registered your business. You’re getting set up for opening day but then you start to think of all the different outcomes your business could take. Will it be profitable? If I have projections, will they be accurate? How will I know how well I am [...]

What COVID-19 means for your IRS Payments

By |2021-01-17T19:49:01-06:00September 4th, 2020|Categories: Accounting, Better Guidance, Business, Communication, Government & Policy, Smarter Decisions, Tax|Tags: , , , , , , |

You know when you go on vacation or are over the road for extended periods, and you come home, and the mailbox is SO full you can barely open it. Well, with the global pandemic going on with COVID -19, the IRS has tons of mail. No, they weren’t on vacation, but due to the pandemic, [...]

Better Guidance for Business Building Depreciation Benefits

By |2021-01-17T19:49:18-06:00August 28th, 2020|Categories: Accounting, Better Guidance, Business, Communication, Consulting, Growth, Tax|Tags: , , , , , , , , , , , , |

Got assets and need cash? As a Senior Analyst for Abacus CPAs, I have seen this all too often. Business owners, like you, get the short end of the deal. You spend a ton of money to build, buy, and add on to facilities for your business and at the end of the year, you still [...]

When Should I Pay Estimated Taxes?

By |2021-01-17T19:49:31-06:00August 21st, 2020|Categories: Accounting, Business, Communication, Consulting, Growth, Tax|Tags: , , , , , , , , , |

You might be surprised to know it, but taxes are not only due April 15th.  The IRS wants taxpayers to send in money throughout the year to keep the government running.  Most people have their taxes sent in by their employers through deductions straight from their paychecks.  But for those who have income from outside of [...]

When to hire a Controller or CFO

By |2021-01-17T19:49:45-06:00July 31st, 2020|Categories: Accounting, Business, Communication, Consulting, Growth, Leadership, Tax, Values|Tags: , , , , , , , , , , , , , , , , , |

As a small business grows from a single person sole proprietorship to a multi-national corporation, the needs of the company will grow and change.  In the beginning of the company’s life cycle, growth is driven by the vision and talent of a small group of people, either the owner or an inner circle of similar-minded individuals.  [...]

Understanding Real Estate Investments & Taxes

By |2020-11-11T13:47:41-06:00July 10th, 2020|Categories: Accounting, Business, Consulting, Tax|Tags: , , , , , , |

Investing in real estate has been a common way to make money throughout history. In today’s world, real estate investments, in the form of flipping houses or holding property long-term, are especially popular. Programs like Fixer Upper and House Hunters show the profits that are available to those who are willing to take the risk of [...]

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