Most new small business owners work hard to take care of every aspect of their business. It's their baby, and they want and need to be in control, so they can be sure everything is covered, and they are steering the entity in the right direction. This is their dream, and failure is not an option. This isn't uncommon in budding entrepreneurs, especially in the startup stages. It helps them know their business inside and out. [Read More]
Is It Time For Your Business To Conduct A Third-Party Audit?
Audits aren't just done by the IRS. Occasionally, a business may request a third-party audit on itself. An audit is a way for a business to make sure that its books are accurate, in addition to discovering any critical issues such as fraud. Here are some of the reasons you might want to contact a certified public accounting firm to conduct an audit on your own business. Make Sure Your Internal Controls Are Accurate [Read More]
4 Ways To Improve The Accuracy Of — And Reduce Risk In — Your Payroll Records
As a small employer, you face additional legal requirements and agency oversight that non-employers don't. This calls for additional diligence to ensure the accuracy of your payroll and its records. To help you be confident that you can meet the challenge, here are 4 things to verify in your employee records. Classification. It may surprise new employers that there are rules about who can be classified as an employee and who should be classified as an independent contractor. [Read More]
3 Things to Know if You Start a Consultant Business & Aren't Sure How to File Taxes
If you started working as a sales consultant for the first time, on top of your regular occupation, and you have no idea how to report your earnings, it's time to consider getting a tax preparation expert to help. There are a lot of things that can come up that could cause you to get audited, and you want to make sure that you don't end up with legal problems because you didn't file your taxes properly. [Read More]