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Setting up a retirement plan for your small business may seem daunting, but it can increase your appeal as an employer, offer significant tax deductions, and help you prepare for your own future. Retirement Plan Benefits As a small business owner, you know that planning for the future is important. It’s up to you to …
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Your business is responsible for providing tax forms to anyone you compensate, including contractors and other non-employees. The IRS form 1099-MISC is the most common non-employee tax form. It is used to report miscellaneous payments to contractors, experts, attorneys and vendors. Who gets a 1099? 1099 forms are commonly discussed in relation to the gig …
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Using automations in Quickbooks can make running your business so much simpler! Instead of manually repeating the same tasks day in and day out, the software will do it for you. Automations are completely customizable and setting them up will save you a lot of time in the long run. Why Use Automations? It’s easy …
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Finances can be one of the most complicated parts of running a business. Follow these tips to focus more on your business and less on onerous bookkeeping! Create a Budget Just like for personal finances, you need to understand how much money is coming into your business and where your money is going. Your business …
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Creating a detailed business plan is one of the most important things you can do for your business — and it is essential to do it right. What is a business plan? A business plan is a document that outlines your business’s mission, structure, goals and plans. According to the Small Business Administration, there are two …
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Taxes don’t have to be complicated. Whether you are self-employed, own a small business, or have many employees, utilizing a tax preparation service can help you avoid mistakes, save time and maximize your refund. Types of Tax Preparation Online Tax Filing Software The IRS partners with services to provide free or low-cost tax filing software …
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As one year comes to an end and the promise of a fresh, new start is just around the corner, now is the perfect time to plan big for your business in the new year. Your list of business goals for 2022 may include growing sales, hiring new employees, expanding your services, or taking on …
Continue reading “Considering Hiring An Accountant? Here Are 3 Reasons Why You Should”
Mechanicsburg, PA — Gift CPAs, a leading small business accounting and advisory firm headquartered in Mechanicsburg, recently named MaryAnne Reynolds as Partner. Reynolds joined Gift CPAs in 2016 with over 15 years of Marketing experience. She oversees the strategic marketing initiatives and branding efforts as well as the cultural programs of the firm. Upon hire, Reynolds …
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As a small business owner, keeping your finances, balance sheets, invoices, and other accounting documents in order can often be easier said than done. QuickBooks Online is a wonderful option for those searching for a supportive tool to track all the essential numbers. Benefits for your business QuickBooks provides a tool chest of reports, documents, …
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The IRS announced that the Child Tax Credit for 2021 will be raised to $3,600 for children under 6, and $3,000 for children 6 to 17 years old. As part of the pandemic relief package passed earlier this year, qualified taxpayers will be eligible to receive advance payments on their estimated Child Tax Credit for …
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