End of Year Tax Planning – Is Your Business Ready?
Another year is coming to a close and it’s time to start thinking about the upcoming tax season. December might feel like it’s too soon to start working on taxes, but it’s an optimal time even if this is the busy season for your business in Concord, NC. Getting prepared now helps you create a […]
How a CPA Can Help You Make Your Next Major Equipment Purchase
The time has come for buying new equipment for your Concord, NC small business. It’s an exciting undertaking as it’s a sign that your business is growing and needs more capacity to keep up with sales. But there are more implications for buying equipment than just expansion. You also have to take into consideration the tax implications […]
How Umbrella Corporations Help You Manage Your Business Assets
Your small business in Concord, NC, is doing so well that you’re able to hand off the operation to a trusted associate and turn your thinking to operating a new business. Once you’ve decided on what venture you’d like to engage in, you’ve got some questions facing you as to the corporate structure. One option […]
Why should I hire a CPA for my business?
When you got into business for yourself, you understood that bookkeeping was a part of your responsibilities. And for a while, it was easy to keep up with the paperwork because there was time to dedicate to the job. But as your business grew, time for the books became scarce because it was spent promoting your business […]
How an Accountant Prevents You From Making Costly Mistakes
You’ve finally got the running of your small business down to a science. Daily operations run with few problems, receipts are steady, and the bills don’t fluctuate all that much. You think you don’t need a business accountant to help you with your books because everything’s going fine. Or are they? Can you be absolutely sure […]
Internal Financial Audits
Companies in Charlotte perform annual internal financial audits to get an overview of where the money is coming from and going to along with making sure everything is in compliance. It’s a good business practice that gives an overview of the financial health of the company. It’s because discrepancies are uncovered, money is accounted for, and the necessary filings are checked for validity. While a financial person inside the company can do the work, the job is done best with an outside auditor.
Mega Tax Preparation Chain vs. a Fully Trained Accountant CPA
Late January of every year marks the official opening of tax season as people begin receiving their W2s, 1099s, and other related income documents for reporting their taxes. Major tax preparation chains have already gone into action to draw people into their offices in and around Concord, NC, to get their taxes done and a rapid refund. These chains put their tax preparers through training and testing before they’re allowed to work with clients, but the training simply can’t compare to what a Charlotte, NC business accountant has gone through to get her CPA.
Sole Proprietors: Should They Pay Quarterly Taxes or Pay by April 15th?
Working as an independent contractor in Concord, NC, means you’re classified as a sole proprietorship by the IRS and are considered to be a small business based in North Carolina. You’re getting paid to do work without getting taxes taken out of your check along with enjoying the freedom that comes with working your own hours. But that income you earn is reported to the IRS and is something you have to pay taxes on at a higher rate than you would pay as a W-2 employee. That means you can wind up with a nasty tax bill by the time April 15th comes around
Setting Up a Corporate Structure: How a CPA Helps You Pick the Right One
The time has come for your Charlotte-based business to become a fully fledged corporation. It’s a wonderful feeling knowing that you can go from being a sole proprietor to a corporation. But now you need to figure out which one is right for your business. Do you go with an LLC? S-corp? C-corp? It’s not easy determining which corporate structure you need because each has a different structure and operating rules that might be too much or not enough for the kind of business you operate. This is where you should turn to a Charlotte, NC business accountant and get help picking the right corporation for you.
Worried About an IRS Audit? How a CPA Protects and Defends Your Business
Many businesses fear the threat of an IRS audit. Getting audited suggests that the business did something wrong or was trying to underreport income on their tax returns. The fact of the matter is, the IRS only audits businesses in Charlotte and elsewhere if the tax return shows abnormalities that throw up a flag or if a computer randomly picks that business for an audit. It’s not necessarily the end of the business, but you don’t want to go at it alone with the IRS because they know the laws inside and out.