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Documents Needed to Prepare Your Tax Return 

By |2021-01-31T16:04:33-06:00January 31st, 2021|Categories: Better Guidance, Consulting, Smarter Decisions, Tax|Tags: , , , , , , |

The documents you need to file your tax return depends on your situation and is different for everyone. Some individuals receive a W-2 from their employer, whereas others own a business and the documentation required can be more complicated. Consider what, if any, changes happened during the year.  Did you get a new job?  Did you [...]

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 [...]

What You Need to Know About Counterfeit Currency

By |2021-02-09T07:10:34-06:00January 29th, 2021|Categories: Better Guidance, Government & Policy, Smarter Decisions|Tags: , , , , , , |

You assume the cash you receive for your sale on Facebook marketplace or the bills you pull out to pay for your lunch is worth the amount printed on the face of the bill. But with $82.1M of counterfeit currency estimated to be passed in fiscal year 2018, it is not guaranteed that you can deposit [...]

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 [...]

The Hidden Tax Trap of Short-Term Rentals

By |2021-01-17T19:46:52-06:00December 30th, 2020|Categories: Better Guidance, Business, Communication, Smarter Decisions, Tax|Tags: , , , , , , , , , , , , |

Some travelers want to experience the natural wonders of an area to feel like a local when they stay in a new city. They do not want to be confined inside a highway motel. They dream of staying in a quaint cottage, venturing out of an apartment into the jazz district, of feeling the vibe of [...]

Why Do I Have to Pay Income Taxes?

By |2021-01-17T19:47:00-06:00December 30th, 2020|Categories: Better Guidance, Communication, Consulting, Government & Policy, Smarter Decisions, Tax|Tags: , , , , , , , , , , , |

Why do I have to pay taxes?  Such a small, interesting question that opens the door for a barrage of follow-up.  What are taxes? How are they used? Do we need those things?  Are there better ways to pay for them?  If you know the answers to these questions, then you might have a bright future [...]

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 [...]

401(k) vs. IRA: Which is best for you?

By |2021-01-29T21:41:36-06:00December 30th, 2020|Categories: Better Guidance, Business, Communication, Consulting, Smarter Decisions, Tax|Tags: , , , , , , , , , , , |

Some of us dream about the day we get to retire. All of those long, hard years of labor, you can finally hang up the laces for good and life will be wonderful, right? A lot of individuals do not plan financially for that day. You should start planning for retirement right away, in fact, as [...]

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