Category: Accounting

September 12, 2023

In a timely reminder from the Internal Revenue Service (IRS), taxpayers, especially small business owners such as gig workers, sole proprietors, retirees, partners, and S corporation shareholders, are urged to ensure they meet the third quarter tax payment deadline of […]

July 27, 2023

Abrand is the mental or emotional image of your business or product that automatically appears when someone sees your company’s name, slogan or logo. It’s your business’s personality or reputation, and it’s critical that an owner holistically and methodically builds […]

July 26, 2023

It’s easy for the prospect of tax season to overwhelm small business owners. Do you have all the necessary documents? Are you capable of filing your own taxes, or can you afford to hire a tax professional? Do you have […]

July 14, 2023

If the thought of preparing your own business tax returns is daunting, you’re not alone. According to research information, there are thousands of tax returns defiled every year, and over half of them are prepared by certified public accountants (CPA’s). […]

June 23, 2023

Planning and managing risks are essential for running a profitable company. A business’s key staff, or the people with the knowledge, expertise, and experience that propel the business ahead, is one of its most significant assets. What would occur if […]

June 13, 2023

Farmers markets are a great opportunity for small businesses to showcase their products and connect with their communities. However, participating in a farmers market comes with risks, and it’s important to have the right insurance coverage to protect your business. […]

June 12, 2023

A new policy aimed at increasing the minimum wage for app-based food delivery workers could have a considerable impact on small businesses in New York City, according to a report from CNN. The surge in the use of services like […]

May 19, 2023

Choosing the right legal structure is crucial when setting up a business. LLCs and S Corps are popular business entity options that provide liability protection but differ in taxation. In this article, we’ll explain the differences between LLC vs. S […]

May 5, 2023

If you’re running a small business, you may wonder if it’s worthwhile to buy business insurance, especially if you’re just starting out and don’t have any employees yet, or even a commercial premises to do business from. The truth is […]

May 3, 2023

In celebration of National Small Business Week, taking place from April 30 to May 6, the Internal Revenue Service (IRS) is spotlighting tax benefits and offering an array of resources to assist those contemplating starting a business. This annual event, […]

April 28, 2023

The Internal Revenue Service (IRS) has issued a reminder to thousands of tax-exempt organizations about the upcoming May 15, 2023, filing deadline. Typically, tax-exempt organizations are required to file specific returns by the 15th day of the 5th month following […]

April 20, 2023

Business names are key to helping brands grow. Taking time to register your small business is an important step. When you register a business name, you can enjoy the following benefits: Help you realize tax benefits Help you establish credibility […]

April 17, 2023

Self-employed individuals often have unique tax requirements that can be overwhelming to manage during tax season. Fortunately, tax software can help you understand how to file self-employment taxes and make the process easier by streamlining the filing process and providing […]

April 11, 2023

Every driver in Canada, in every province and territory, is required by law to have car insurance. If you’re caught driving without insurance, you will probably have your license revoked and will also have to pay a hefty fine in […]

April 10, 2023

For tax, accounting, and even budgeting purposes, it’s important to know the difference between a fiscal year vs calendar year. A fiscal year doesn’t always align with its calendar counterpart. For example, Microsoft corporation winds up its fiscal year at […]

March 21, 2023

The minimis safe harbor election allows small businesses to deduct expenses that might otherwise need to be capitalized. Think of the amounts paid for things like computers. Under the safe harbor election, you might be able to deduct the entire […]

March 16, 2023

A small business audit doesn’t necessarily mean you’ll be dealing with the Internal Revenue Service. Small business owners can conduct internal audits on an annual basis. Either way, the audit process involves looking at accounting records and tax return numbers. […]

March 9, 2023

Starting a small business is no easy feat for owners, that’s why you have to be smart when it comes to finances if you want your company to grow. But when handling your employees or taking care of your products […]

March 7, 2023

The Internal Revenue Service (IRS) has issued a consumer alert warning taxpayers about new scams that involve claiming false tax credits by using wage information on tax returns. The scam artists suggest that people use tax software to manually fill […]

March 6, 2023

Choosing the right legal service provider is one of the most important decisions for any individual or business in need of legal assistance. A reputable, experienced legal service provider, such as Monahan Law Firm, can make sure that your interests […]