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What Should a Small Business Do If a Remote Worker Wants to Relocate to a New State?

Sep 27, 2021 2:30:03 PM / by CSI Accounting Staff posted in small business taxes, small business payroll, small business operations

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With so many businesses turning to COVID-related remote work over the past year and a half, employees are feeling as though they have fewer things tying them to a certain area. Because of this, many employees have begun to relocate. What does this mean for employers?

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How Can a Small Business Budget For Variable Expenses?

Sep 23, 2021 1:52:09 PM / by CSI Accounting Staff posted in small business accounting, small business operations

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Budgeting for your small business would be much easier if it only required adding up your fixed expenses. However, when you throw in variable expenses, it can be easy to go over budget. How can you expect the unexpected and get a more accurate idea of what you should be spending?

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The Application Portal Opens Next Week for the Minnesota Main Street COVID Relief Grants Program

Sep 14, 2021 10:32:08 AM / by CSI Accounting Staff posted in small business taxes, small business payroll, small business accounting

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Minnesota Main Street Covid Relief Grants Program will grant $10,000 - $25,000 to several thousand Minnesota businesses that can prove a financial loss due to COVID-19. The selection process is random, and the online application portal will only be open for 10 days - are you ready?

Here, we'll cover what you need to have prepared, when the portal opens, and if you qualify.

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Act Quickly, Minnesota Small Businesses! You May Be Eligible for Main Street COVID Relief Grants

Sep 8, 2021 2:00:54 PM / by CSI Accounting Staff posted in small business taxes, small business payroll, small business accounting

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Here comes the Main Street Covid Relief Grants Program! Grants ranging from $10,000 to $25,000 will be given to Minnesota businesses that can prove a financial loss due to COVID-19. The selection process is random, provided the applicants are eligible, and we're looking at several thousand businesses being chosen.

The online application portal is set to open sometime in September for 10 days only - are you ready? Let's see if you're eligible.

NOTE: The application portal is open as of 10:00 a.m. on September 20, 2021. It will only be open for 10 days!

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Which Small Businesses Are Now Eligible to Apply For the ERC (Employee Retention Credit)?

Sep 3, 2021 12:02:14 PM / by CSI Accounting Staff posted in small business taxes, small business payroll, small business accounting

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The ERC is a great COVID relief effort, so why aren't there more eligible small businesses applying?

In this blog post, we discuss what it is, how it's expanded, and if you're eligible. Most importantly, we talk about how CSI Accounting & Payroll has helped applicants in the past (and can help you as well!) - no hassles, no worries.

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Here Comes Autumn - Also Known As Tax Planning Season

Aug 23, 2021 2:38:29 PM / by CSI Accounting Staff posted in small business taxes

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Most small business owners have tax filing season on their radar each Spring. However, a shocking number don't have a tax planning strategy session on their calendar. When you only work with an annual tax accountant, they can only record the history of your year and give minimal advice on the upcoming year.

At CSI Accounting & Payroll, we use monthly accounting to give business and financial advice year-round, but we also set up tax planning sessions each Fall. The goal? We want our clients to know what their tax season is going to look like ahead of time to maximize benefits.

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Is It Worth It to Outsource Small Business Accounting and Payroll With a Local Firm Instead of a National Provider?

Aug 16, 2021 1:06:08 PM / by CSI Accounting Staff posted in small business taxes, small business payroll, small business accounting

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When you run a small business, you're usually working with a tight budget. This means that many small businesses tend to purchase supplies and services from large, national providers, even when they want to support their fellow small businesses.

Often, it's a misconception that national providers cost less than small businesses - or if they do, they certainly don't give you the same bang for your buck. We're here to walk you through the differences between the cost and value of larger companies versus small businesses when it comes to outsourcing your financial activities, such as accounting and payroll.

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What are the Penalties For Filing Taxes Late or Without an Extension?

Aug 13, 2021 12:18:58 PM / by CSI Accounting Staff posted in small business taxes

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What happens when you file your taxes late? How about when you file them late without an extension? These are questions that we're frequently asked when we sit down with prospective clients.

If you're only meeting with an annual tax accountant, you probably aren't being treated as a priority. This can result in missing important due dates and being penalized for it - and it's much more common than you'd think. When was the last time you felt like you had good communication with your accountant?                     

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The Importance of Small Business Customer Communication

Aug 3, 2021 3:35:59 PM / by CSI Accounting Staff posted in restaurants, automotive repair shops, small business operations

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All business owners know the importance of communication. Good communication is needed with your suppliers, advisors, and employees to keep your business running smoothly from an internal standpoint. Do you ever think about the importance of communication with your customers?

Regardless of your type of business, this needs to be considered. Customers who purchase more temporary goods or services have the opportunity to be repeat visitors, customers who make a large single goods or services purchase have the opportunity to offer impactful referrals or reviews, and clients with accounts have the opportunity to be long-term partners. Gaining insight into customers' perspectives is ideal for growth.

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How to Measure the Best KPIs For Your Small Business

Jul 27, 2021 11:59:59 AM / by CSI Accounting Staff posted in small business accounting

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When you run a small business, there are tons of numbers involved. A lot of owners are focused on the basics like sales and expenses, and they trust their accountant to handle their statements. While an annual tax accountant can give you a reflection of your last year, you might not have a deeper understanding of what each line on your financial statements means.

Here are the KPIs (key performance indicators) you should be tracking year-round for your small business.

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