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3-Step Solution to a Financial Dilemma

Small businesses owners face a variety of financial challenges, big and small. Recently a client told me, “I’m probably the lowest paid person in this company.” He wasn’t complaining or even bringing it up as a concern necessarily, yet it was something he felt may be true about his business. I could relate, because at [Read More]

The Easy-Peasy Way to Meet Tax Deadlines

Upcoming Tax Deadline: July 15, 2020 To some it was a blessing, to others, not so much. However you see it, the April 15 deadline for filing your 2019 tax return was extended from April 15 to July 15 based on President Trump’s declaration during the Coronavirus pandemic. (Please check with your tax preparer to [Read More]

2019 End-Of-Year Contractor Checklist

Verify contractor information: Verify contractor name Verify contractor address Verify contractor identification number File 1099 You’ll want to make sure all your contractor information is in one place. Like with employees, you’ll want to verify your contractor’s name, address, and identification number. The ID number can be a contractor’s SSN, ITIN, ATIN, or EIN. The [Read More]

2019 End-of-Year Employee Benefits Checklist

Verify employee benefit information: Confirm retirement plan eligibility Confirm health benefits (and imputed wages) Confirm fringe benefits Review sick time Review vacation time Review deferred compensation We often set and forget employee benefits, but the end of the year is an important time to verify your employee benefit information. For most retirement benefit information, like [Read More]

2019 End-of-Year Employee Checklist

Verify employee data: Verify employee full name Verify employee address Verify employee Social Security number File W-2 It’s important to review employee data at the end of the year, particularly with employee names, addresses, and Social Security numbers. Improperly filing this could lead to penalties for each misfiled W-2. Check with your employees to make [Read More]

2019 End-of-Year Accounting Checklist

Review profits & lossesThe first thing you should do after this checklist is review your profit and loss statement. It’s a good practice to see how you’re spending your money and if your expenses are categorized. If you haven’t already, you may want to reconcile your bank accounts and receipts. Collect W-9sDid you use vendors [Read More]