There are two ways to make income tax payments to the IRS throughout the year: through the withholding amount on your paycheck, and through making estimated tax payments. If you have ever wondered about estimated tax payments, this article will explain what they are, if you need to make them, and how to make them […]
ClickUp™ is a versatile new web application that serves multiple functions for a small business. It’s primarily a CRM – customer relationship management – with project management and workflow features built in, and is adaptable across several industries. ClickUp’s goal for its users is to save time and reduce redundancy by tying everything together in […]
If you have a bank account in a foreign country, you may need to disclose it to a branch of the government that fights financial crimes. This is what tax professionals call FBAR reporting. FBAR stands for Foreign Bank and Financial Accounts Report. Your foreign bank accounts may also impact your tax returns. Let’s take […]
When starting a business, most entrepreneurs excel at the specific technical skill set they need in order to deliver their services and products to clients. For example, if you own a bike shop, you are pretty great at all things related to bikes. If you own a law firm, you are probably good at practicing […]
Did you know the IRS provides a tool on their website that allows taxpayers to check their refund status? The good news is you don’t have to rely on your tax professional to access this information; you can access it directly yourself. Here’s the direct link: https://sa.www4.irs.gov/irfof/lang/en/irfofgetstatus.jsp How do I get started? The “Where’s My […]
How is your business doing? There are many ways to answer that question and, in this report, we’ll focus on the quantifiable answers. These come in the form of financial measures or metrics, sometimes called key performance indicators (KPIs). Many come in the form of ratios, so you also might hear the term financial ratios. […]
Every business has competitors of one sort or another, and in many industries, it’s crucial to know what your competition is offering their customers. The good news is you can often find out what your competition is up to, and this is where mystery shoppers come into play. A mystery shopper is a person who […]
Almost every successful business owner craves accountability. We’re wired to respond to crises and to help others, sometimes before we help ourselves. Entrepreneurs are excellent in running their day-to-day businesses, but some need more accountability to meet internal deadlines and long-term goals. Let’s take a look at how we can increase our accountability. Setting Goals […]
As a business owner, you have dozens of decisions to make at any one time. One of the most important decisions to make is choosing what type of entity your business will be. While you already made this decision when you started your business, your situation could change at any time. Currently, your business may […]
General Definition If you have ownership in an S corporation, it is important to have a general understanding of basis. This number called “basis” increases and decreases with the activity of the company. The IRS defines it as the amount of a shareholder’s investment in the business for tax purposes. When the S corporation files a […]
