5 Common Accounting Mistakes (and How to Avoid Them)

As half of the year has passed us, and summer is approaching, now is the time for you as a business owner to look back and reflect on how your business has done thus far. While reviewing your financial health, it’s crucial to ensure your accounting practices are on point. Many small businesses unintentionally make […]
Recover Missed Tax Deductions Without Amending Past Returns: How IRS Form 3115 Can Help

Have you ever discovered something about your business’s taxes that made you wonder, “Why didn’t my previous accountant catch that?” You’re not alone. One of the most common areas where businesses and investors lose money on their taxes is depreciation—especially when assets like buildings or renovations aren’t classified or handled properly. Thankfully, there’s a powerful […]
Four Bookkeeping Pitfalls for Small Businesses to Avoid

Accurate bookkeeping is essential for operating a successful small business. Inadequate bookkeeping practices can lead to significant, long-lasting consequences. Here are four common pitfalls — and how to avoid them with the right knowledge and tools. 1. Commingled Bank Accounts Maintaining a dedicated bank account for business transactions is crucial. Using personal accounts for business […]