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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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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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The Top Pros and Cons of Different Small Business Accounting Solutions

Jul 20, 2021 4:26:51 PM / by CSI Accounting Staff posted in small business bookkeeping, small business accounting

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Life is about choices - but sometimes your options aren't as clear as you'd like them to be. When the stakes are as high as selecting the accounting solution that's the best fit for your business, you should feel confident in your knowledge of each possibility.

After over 50 years of working with small business owners, we've developed a full understanding of all three categories of small business accounting. In this blog post, we will discuss:

  • Hiring an in-house accountant
  • Working with an annual tax accountant once a year
  • Outsourcing a monthly accounting service
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Which Accounting & Payroll Solutions Are Best For HVAC Businesses?

Jul 12, 2021 1:38:00 PM / by CSI Accounting Staff posted in small business payroll, small business accounting, construction companies

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As the owner of an HVAC business, you know the importance of maintaining an accurate inventory and professional staff to satisfy your customers' heating, ventilation, and air conditioning needs. This is something that's critical year-round, so when do you find the time to settle down and handle your accounting and payroll? Have you ever considered outsourcing them to save you time and help you avoid costly mistakes?

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Best Accounting & Payroll Methods for Mental Health Practices

Jul 9, 2021 1:42:54 PM / by CSI Accounting Staff posted in small business payroll, small business accounting, healthcare services

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When you own a mental health practice, your main goal is to help your patients have a brighter future. After focusing on treating the different things that cause them discomfort or distress, you don't want to slow down enough to put in the extra hours that accounting and payroll require. Have you ever considered outsourcing them to save you time and help you avoid costly mistakes?

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Do Small Businesses Need an HR Professional?

Jul 7, 2021 10:13:47 AM / by CSI Accounting Staff posted in small business operations

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Small business owners understand the challenges of staying up-to-date with HR requirements, as well as handling any accidents or resolving personal issues that might come forward. It's important to have a resource to handle these situations, but how can that be done on a tight budget?

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Top 12 Red Flags for Income Tax Audits by the Government

Jun 22, 2021 1:00:00 PM / by Brian Paulson posted in small business taxes, small business accounting

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Have you been subjected to a tax return audit before, or are you curious about what leads to an audit? Here are the top 12 red flags that might lead the government to examine your tax return. Please note: these are in no particular order. The more obvious each point stands out on your return, the more likely you are to be audited.

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The Top 8 Benefits of Managed Payroll Services

Jun 9, 2021 3:40:08 PM / by CSI Accounting Staff posted in small business payroll

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Is it worth it to outsource payroll? Clearly, doing it yourself can have some major downsides. Here are the top 8 benefits of managed payroll services, with an extra emphasis on the differences between local providers and national providers.

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