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How to Improve Cash Flow Management With Proper Accounting

Wed, 09 Apr 2025 00:00:00 +0000

Cash flow is the lifeblood of your business. Without proper management, even a profitable company can find itself struggling to cover expenses, pay employees, and invest in growth. The good news? With the right accounting practices, you can take control of your cash flow and ensure your business remains financially healthy. Here’s how you can […]

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Managing Digital Assets in Estate Planning

Wed, 02 Apr 2025 00:00:00 +0000

In today’s digital world, estate planning goes beyond physical assets like real estate, investments, and personal belongings. Your online presence, financial accounts, and digital collections also hold significant value. If you don’t account for these digital assets in your estate plan, your loved ones may struggle to access or manage them after you’re gone. By […]

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The Tax Side of Gambling

Tue, 01 Apr 2025 09:00:00 +0000

Whether you’re a casual or professional gambler, your winnings are taxable. However, the Treasury Inspector General for Tax Administration reports that gambling income is vastly underreported. Failing to report winnings accurately can lead to back taxes, interest and penalties. Here’s what you need to know to stay compliant and potentially minimize your tax liability.

Tax Season Cleanup: Which Records Can You Toss?

Tue, 01 Apr 2025 09:00:00 +0000

If you’ve filed your 2024 tax return, you may be eager to do some spring cleaning, starting with tax-related paper and digital clutter. The documentation needed to support a tax return may include receipts, bank and investment account statements, K-1s, W-2s, and 1099s. How long must you save these records? Three years is the general rule. But don’t be hasty: Failure to keep a paper trail for the information reported on a tax return could lead to problems if the IRS audits it.

Payroll Fraud Threats Inside and Outside Your Company

Tue, 01 Apr 2025 09:00:00 +0000

Payroll fraud schemes can be costly. According to a 2024 Association of Certified Fraud Examiners (ACFE) study, the median loss generated by payroll fraud incidents is $50,000. It’s essential to know the payroll schemes making the rounds and how to prevent them or at least catch them before they go on very long.

How to Conduct a Competitive Market Analysis for Your Business

Wed, 26 Mar 2025 00:00:00 +0000

Running a successful business isn’t just about delivering great products or services – it’s about understanding your market and standing out from your competitors. Whether you’re launching a new venture or refining your strategy, a competitive market analysis is an essential tool. By examining your competition, you can identify industry trends, discover opportunities, and make […]

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Comparing LLC and S-Corp Taxes: What’s the Difference?

Wed, 19 Mar 2025 00:00:00 +0000

Choosing the right business structure is one of the most important financial decisions you will make as a business owner. Limited liability companies (LLCs) and S corporations (S-corps) are two of the most popular options, offering liability protection and tax benefits. However, they are taxed differently, and understanding these differences can help you determine which […]

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Beware of Shady Taxpreparers Offering Big and Quick Refunds

Thu, 07 Mar 2019 15:00:00 +0000

Your 2018 Taxes Will Be Affected by the Tax Cuts & Jobs Act

Wed, 13 Feb 2019 15:00:00 +0000