Beyond the Digital Frontier: The Benefits of Hiring an Accountant for Tax Filing

Woman and man signing contract

Conquering tax season is an overwhelming challenge for many individuals and businesses. As the April deadline approaches, deciding between hiring a professional accountant or using an online platform to file your taxes is crucial. Though online platforms seem convenient, consulting a qualified accountant provides undeniable benefits. In this blog, Gift CPAs reveals why opting for […]

Financial Management Tips for the Sole Practitioner

Sole practitioner working on financial management

As a sole practitioner, you are the captain of your own ship. By forging your way independently of others, you have the freedom to chart the trajectory of your small business by pursuing projects that spark your interest. You can act nimbly and with autonomy by developing your own goals.  While running a small business […]

Completing a W-2 Form with Ease

How to complete a W2 form with ease

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 […]

Resources for Women Entrepreneurs

business and financial consulting

The year 2022 marks an important milestone for women entrepreneurs in the United States. Fifty years ago in 1972, the U.S. Census Bureau began tracking women entrepreneurship. At that time, an estimated 400,000 U.S. businesses were owned by women. Over the past five decades, the number of businesses owned by women in the country has […]

Payroll Administration Made Easy

Small business owners find themselves wearing many hats, being a payroll administrator among them. Managing payroll can be one of the most arduous administrative tasks for a company, especially if you aren’t an accounting or human resources expert. Read on to learn the ins and outs of payroll administration, and how turning to an outside […]

Demystifying Cash Flow and Budgeting

For small business owners, the intricacies of cash flow and budgeting can seem downright confusing. But hope is not lost! Read on to get up to speed on the basics and benefit from best practices on these two financial fundamentals of business. Cash Flow Cash flow refers to the movement of money in and out […]

Common Small Business Mistakes 

Starting and running a small business has many benefits. When successful, small business ownership provides independence, creative freedom and a high degree of personal satisfaction. However, small business owners also must steer clear of a variety of pitfalls. Here are two common mistakes small business owners make and how to avoid them.  Mistake #1: Not […]

IRS Increases Standard Mileage Rate for Final Half of 2022

The Internal Revenue Service published Announcement 2022-13 on June 9, 2022, increasing the optional standard mileage rate for business use of employees’ automobiles from 58.5 cents per mile to 62.5 cents per mile for the final six months of 2022. Beginning July 1, 2022, and ending December 31, 2022, the new rate will be in […]

Small Business Month Tip – Optimize Business Finances

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 […]

Understand your financial reports

HERE's THE SHORT AND SWEET GUIDE TO MAKING THE MOST OUT OF YOUR FINANCIAL REPORTS