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3 Factors to Consider in Your 2018 Budget

Dec 15, 2017 8:41:05 AM / by Lee Goudzwaard-Vaught posted in taxes, small business accounting

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It’s almost the new year. Before the holidays hit, make sure you’re ready for it by setting your budget for 2018.

Wondering where to start? These tips will help you set up a budget that meets your needs and will put you on track towards profit and growth.

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How to Close Your Books (the Right Way)

Dec 7, 2017 8:31:46 AM / by Lee Goudzwaard-Vaught posted in taxes, small business accounting

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At minimum, you’re probably closing out your books once a year. Closing out your books is a necessary part of preparing to file your taxes, and it’s important to close out your books at the end of each year so that transactions are recorded in the right place.

However, most businesses close out their books every month. If you’re thinking about making the switch, here are three advantages of a monthly routine.

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Holiday Bonus Guide for Small Business Owners

Nov 30, 2017 7:57:00 AM / by Lee Goudzwaard-Vaught posted in taxes, small business accounting

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Many companies use holiday bonuses to reward high-performing employees, increase morale, and boost retention. However, bonus types and amounts vary across the board. For small business owners, it can be especially challenging to figure out a bonus schedule that accomplishes your goals at a price you can afford.

Wondering how to fit in holiday bonuses this year? Use the guide below to learn more about the different types of bonuses that employers commonly give out, and to find the type that's right for you. If you have more questions, your accounting firm can help you develop a plan that meets your goals for a price you can afford.

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Thinking about filing a tax extension for 2017? Here's what you need to know.

Nov 21, 2017 3:10:24 PM / by Lee Goudzwaard-Vaught posted in taxes, small business accounting

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It’s almost the end of the calendar year, and taxes will be due before you know it.

If you’re considering filing for an extension this year, here are a few things you should consider before April rolls around.

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Has Your Business Had a Good Year?

Nov 10, 2017 8:52:05 AM / by Lee Goudzwaard-Vaught posted in taxes, small business accounting

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Even if December doesn’t signal the end of your fiscal year, the upcoming calendar change is a common time for businesses to stop and ask, “have we had a good year?” Taking stock of your financials now will help you plan accurately for tax filing season. You’ll also get insight that will help you plan for 2018 as you go.

To evaluate your fiscal health, you’ll need to do more than look at just your cash flow or profit margins. Here are a few key performance indicators that will help you get a full picture.

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