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In the blink of an eye, 2023 will be in the rearview mirror. The end of a calendar year and the start of a new one brings annual deadlines and tasks for employers. At the top of the list is preparing W-2 forms for employees. For many small business owners, this can be an overwhelming …
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Search online for great places to live in the United States, and Lancaster County consistently tops the list. Lancaster boasts a vibrant small business community grounded in the area’s robust manufacturing, distribution, agriculture and tourism sectors, as well as a rapid growth in the live entertainment and events technology industry. Additionally, Lancaster is steeped in …
Continue reading “Key Questions to Ask When Selecting a Bookkeeping Firm”
From lawn care services to restaurant owners, small businesses play a vital role in Pennsylvania’s economy. In fact, small businesses employ 2.5 million people and account for 99.6% of businesses in the state. Most small business owners know sales tax is part of doing business, but not everyone understands their responsibility for use tax under …
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Chances are if you are a small business owner you have heard of the ERC or the Employee Retention Credit. This credit was introduced as part of the 2020 CARES Act as a refundable payroll tax credit for employers to encourage employee retention during the pandemic. Since then, numerous “fly by night” companies popped up solely …
Continue reading “IMPORTANT MESSAGE Do I REALLY Qualify for the ERC?”
If every small business owner had a crystal ball to predict the future, making business decisions would be a piece of cake. There would be no need to analyze financial statements or seek professional guidance. All the answers would be right there, gazing back at us through the curved glass. Though in reality, we live …
Continue reading “Five Key Steps to Produce Data-driven Business Projections (Most People Aren’t Doing #4!)”
Financial statements are key tools to understand the financial status of an organization and make sound decisions for the short-term and long-term future.
It is important to explore the difference between exempt and non-exempt employment status as it impacts the taxes, benefits and incentives your business will pay. Understanding the rules for both classifications will help you build a staff structure that is best for your company.
Wouldn’t it be great to have a compilation of all of your business’s financial transactions at your fingertips? With QuickBooks, an up-to-the-minute look at your chart of accounts is just a click away. Chart of Accounts A chart of accounts is a complete list of your company’s financial accounts in one place. Typically, each account …
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For many business owners, tax season is a stressful time. There’s a delicate balance between making sure you receive all possible deductions to optimize your tax bill and going too far and misunderstanding what qualifies as deductible business expenses. Read on to learn how eligible business expenses can save you money when filing your tax …
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As another year is drawing to a close, tax season is just around the corner. To help you get everything in order for the new year, we’re sharing some helpful tips and information to get you organized with year-end planning. Year-End Tax Planning Resources To Consider Invest in retirement accounts Consider investing in an IRA. …
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