Tax Preparation Archives

Person holding a blue pen writing tasks in a notebook.

Federal Reserve Holds Interest Rates. How that Affects Your Startup.

With core inflation remaining steady or declining in recent months, the Federal Reserve held the line Wednesday on interest rates. But that does not mean entrepreneurs and small business owners can bank on things staying...

byMatthew Gillman

October 28, 2023

Make Filing Small Business Taxes Easier With These 5 Thoughtful Tips

Small business owners and startup owners have countless responsibilities which can make running and managing a small business hard work. When you add the complexity of filing taxes, it can be hard to stay organized...

byRapid Finance

February 13, 2023

5 Mistakes to Avoid When Filing Your Taxes

The process of filing taxes may be intimidating and difficult, and if you're not cautious, you might make a mistake that costs you. Every year, it's the little things that cause taxpayers to pay more...

bySharita Humphrey

February 8, 2023

Man in gray sweater holding paper money.

Budgeting in Buckets: What, Why and How?

We’re going to venture a guess that you wanted to start a business in order to maximize your earning potential. At the same time, you probably don’t need us to tell you that one of...

byMegan Grant

February 7, 2023

8 Great Ways Tax Filing Benefits Your Business

Yes, you read the title right. Filing your tax return could potentially contribute something better to your business – and it’s the financial kind of betterment. Lest we think that only a certain group of...

bySharita Humphrey

June 9, 2022

What Entrepreneurs Need to Know About the Home Office Deduction

You may see your home office as the place you take important business calls, the place you meet new clients, the place you focus best on crafting your products -- but what about the place...

byChelsea Krause

May 6, 2022

Award-Winning Finance Expert Shares 5 Financial Musts Before Jumping Into Entrepreneurship

So, you want to start your own business — in which you are your own boss and you’re in control of your professional destiny. You’re mentally ready to become an entrepreneur, but the question is:...

bySharita Humphrey

March 7, 2022

Tax Challenges You Need to Know Before Starting a Business Abroad

America is called the land of opportunity, but some entrepreneurial ventures are better suited to other countries. Digital nomads around the world have proven the viability of starting a business from your laptop and running...

byNahla Davis

February 17, 2022

Stop Doing These 4 Things if You Want Your Business to Last

We’ve all seen the statistics on how many businesses fail within the first few years of operation, and the current pandemic may accelerate that struggle for some startups. After fielding literally thousands of questions from...

byGerri Detweiler

February 4, 2022

Mistakes This Entrepreneur Made With Her Startup’s Finances (and How to Learn From Them)

Business owners are dealing with unprecedented times right now. Many entrepreneurs are struggling to keep their businesses afloat, with financial struggles as their main priority. Prior to this crisis, I began thinking about my own...

bySusan Guillory

February 1, 2022

Pros and Cons of Setting Your Business Up as An S Corporation

Whether you’re just starting out or if you’re thinking about expanding, you need to consider which legal structure is best for your business. No one option is best for every type of business. In fact,...

bySharita Humphrey

January 17, 2022

The Top 5 Accounting Mistakes Startups Make

Our team has worked with hundreds of startups, and year after year we inevitably come across the same common issues around financial reporting. There are remedies for these accounting mistakes, but it’s crucial to flag...

by Jayneberinger64

November 4, 2021

How President Biden’s Tax Reform Could Impact Your Small Business

Information about tax changes the Biden administration is considering have recently leaked, creating some big headlines in media. “First major tax hike since 1993,” according to Bloomberg. As a fractional CFO, my first reaction to any...

byLJ Suzuki

March 28, 2021

3 Dangers of an Unincorporated Business (and How Incorporation Can Resolve These Problems)

Often, one of the first pieces of advice an entrepreneur receives when they start a business is to incorporate or form a limited liability company (LLC). When you incorporate a business, you are able to...

byDeborah Sweeney

March 24, 2021

3 Key Benefits of an S Corporation Election

The deadline for S Corporations to file their annual tax returns is March 15, which means businesses with an S Corp election need to file Form 1120S and Schedule K-1. These forms, respectively, outline the...

byMyCorporation

March 10, 2021

LLC or Corporation: Which Entity is Best For My Business?

Two of the most popular entity formations for business incorporation are limited liability companies (LLCs) and corporations. Both entities provide startup owners with certain benefits, and one of the biggest benefits is limited liability. This...

byDeborah Sweeney

January 19, 2021

What You Need to Know About Taxes for Your E-Commerce Side Hustle

E-commerce sales have been on the rise in the U.S. over the past couple of months due to the realities of the coronavirus pandemic. According to a new SpendingPulse report from Mastercard, U.S. online retail...

byChris Rivera

July 28, 2020

5 Simple Ways to Organize Your Small Business Finances

Credit scores are often seen as the number one obstacle preventing small businesses from getting financing. But disorganized financials may be equally to blame. In today’s challenging economic environment in particular, lenders want to make...

byNav

July 9, 2020

3 Things That Could Cost Your Business its COVID-19 Loan

The Senate approved an additional $60 billion in funding for the Economic Injury Disaster Loan (EIDL) program and $310 billion for Paycheck Program Protection (PPP) loans on April 21, 2020. It now heads to the...

byGerri Detweiler

April 23, 2020

WJR Business Beat with Jeff Sloan: Tax Day Extension (Episode 33)

Today's date, April 15, is always etched into our memories as Tax Day. But this year, amid the COVID-19 crisis, things are a little different. This year, the federal government has extended Tax Day out...

byStartupNation

April 15, 2020