Recent Posts
Paying yourself when you are self-employed is not always a simple affair. Staying on the right side of the tax laws means you can’t always just have someone write you a check, deposit in your bank account and be done with it. When you decided to head out on your own, at least one of …
Continue reading “Paying Yourself When You Are Self-Employed; Understanding the Options”
Managing your automotive services business involves juggling a lot of tasks and responsibilities. From planning your marketing to managing payroll and approving vacation requests, there are several details that you need to keep track of. And so many of them are about managing and tracking the money. Finding the right software solution for finances can …
Continue reading “5 Reasons to Choose QuickBooks Online to Manage your Automotive Business Finances”
You have spent all of your PPP loan monies and now you want to apply for forgiveness to complete the process. You may want to consider delaying the submission of your forgiveness application for a few reasons: We are expecting additional legislation related to the forgiveness of the PPP loans in the next congressional bill …
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If you are like most independent repair shops, you started 2020 worried about how to find the time to keep your team trained on changes in vehicles and regulations, staying on top of diagnostic advances or finding talent to help you grow your customer base. All of these come in addition to the difficulties of …
Continue reading “Want to Tune up Your Auto Services Business? Outsource Your Bookkeeping.”
You don’t want to lose it. For any nonprofit organization, the path to gaining a 501(c)(3) status is difficult, whether it was last year or last century. It’s important to do everything you can to hang on to that tax-exempt status, for reasons from funding to operations to, well, taxes. Here, we’ll walk you through …
Continue reading “Protect Your Nonprofit Status”
If you are a small business owner, you wear a lot of hats: Human Resources, Customer Support, Marketing, Accounting… the list goes on. All of these hats can lead to some incredibly long hours – taking away precious time from running your business. Accounting is often an area that creates quite the challenge – especially …
Continue reading “Top 5 Accounting Challenges Small Businesses Face”
Small business taxes are not for the weak of heart. While taxes are doable for some business owners, others prefer to hire an accountant to help with the many nuances that come with tax season. There is always the question of should I try filing my taxes myself or work with an accountant? We will …
Continue reading “Should you Hire an Accountant for Your Taxes?”
Earlier this week the SBA released a few items of guidance regarding the recently enacted Flexibility Act and new forgiveness applications. As a reminder, the Flexibility Act extended the PPP forgiveness period from 8-weeks to 24-weeks. Borrowers still have the option of using an 8-week forgiveness period. It also reduced the amount required to be spent on …
Continue reading “SBA Releases New PPP Applications”
Cash or property? If you have used or invested in cryptocurrency, such as Bitcoin, the taxes may not be as straightforward as you think. Taxes are what we know best, and we’re here to walk you through the layers of filing your taxes when owning cryptocurrency. What is cryptocurrency? Cryptocurrency is a digital form of …
Continue reading “Taxes and Cryptocurrencies”
The U.S. Senate passed the House version of the Paycheck Protection Program (PPP) and the President is expected to sign it. The updated legislation, passed Wednesday night, will triple the time allotted for small businesses and other PPP loan recipients to spend the funds and still qualify for forgiveness of the loans. Following is a …
Continue reading “Paycheck Protection Program Reform Bill Coming”