Estimated Taxes for Business Owners

April 1 may be April Fool’s Day, but April 15 might be considered April’s cruel day. Not only did you have to pay any income tax due for the previous year, you may have also had to make an estimated tax payment for the current year. A poor estimate might result in either an underpayment that triggers a penalty or an over-payment that deprives you of valuable cash … [Read more...]

Audit Settlement Program from the IRS

The Internal Revenue Service announced this week they are implementing a nation-wide program that expedites settlements for small businesses being audited by the IRS. The program is called Fast Track, and it was created to help small businesses and self-employed people have the same alternatitive dispute rights that big businesses have had for years. Under the Fast Track … [Read more...]

ALL COMPANIES SHOULD HAVE A BUSINESS BUDGET

As the end of the year approaches, it is the perfect time to update your small business budget. Surprisingly though, many companies go without a business budget at all. There are plenty of reasons owners give for not creating one: “The business just started, there is no way I can project revenue.” “Our expenses and overhead are small enough that it doesn’t matter.” “We … [Read more...]

HOW SOCIAL MEDIA CAN ENHANCE YOUR BUSINESS

SOCIAL MEDIA AND SMALL BUSINESSES Small businesses are turning to social media for networking opportunities more than ever. In the recent 2013 Small Business Technology Survey by the National Small Business Association (www.nsba.biz) , nearly 75% of small business owners use one or more social media sites on a regular basis. Over 800 small business owners were asked, … [Read more...]

IS ONLINE ACCOUNTING FOR YOU?

Online accounting programs are becoming more and more popular with small businesses. They offer a cost-effective way to meet the needs of most small businesses, while targeting only what your business needs in accounting software. Having your accounting software in the cloud can provide a number of advantages over traditional accounting software: Reduces your need for … [Read more...]

5 REASONS NOT TO FIRE YOUR ACCOUNTANT – Cloud Accounting

Cloud accounting is getting more popular, especially with small businesses. A variety of services are available online, including monthly accounting, payroll, and invoicing. With all these choices, a business can be tempted to think they can replace their accountant with cloud accounting. In a recent blog post on Huffington Post, Kirk Simpson, the CEO and co-founder of … [Read more...]