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How an Accountant Uses Monthly Financial Statements to Offer Advice

Apr 13, 2021 4:49:38 PM / by CSI Accounting Staff posted in small business taxes, small business accounting, small business operations

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You know the value of receiving monthly financial statements, and you're putting in the time and resources it takes. However, once they're in your hands, you're not sure what to do with them. Therefore, have the experts at CSI Accounting & Payroll help you analyze your statements to get the best plan of action for your business.

One of our main goals in our accounting department is to use the monthly financial statements we create to offer profitability advice. Have you ever wondered what kind of advice you could be receiving? Here are some of the topics that are most frequently brought up in our meetings.

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What You Need to Know About the American Rescue Plan Act

Mar 25, 2021 4:28:35 PM / by Brian Paulson posted in small business taxes, small business payroll, small business accounting

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The following blog post is based on a letter from CSI Accounting & Payroll's owner, Brian Paulson, to our clients.

As we all know, 2020 and 2021 have been very challenging years in many respects. Along with everything else, Congress has been doing more things than ever before that have implications on the taxation of both businesses and individuals. It has been very challenging to do so, but we pride ourselves on staying on top of what is coming out of Congress so we can quickly summarize it and convey it to our clients.

NOTE: This information was up-to-date at the time that this post was written, but COVID relief laws are constantly being updated and changed. Please contact us directly for updated information.

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The Benefits of Having Accounting & Payroll Services Under One Roof

Mar 15, 2021 3:04:54 PM / by CSI Accounting Staff posted in small business taxes, small business payroll, small business accounting

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While there are people who use different providers for different services, CSI Accounting & Payroll offers the best of both worlds when it comes to financial services. Having accounting and payroll under one roof has lots of benefits under normal circumstances.

This post touches on those normal circumstances, as well as how bundling accounting and payroll can help a struggling small business owner with navigating COVID wages, loans and credits, and forgiveness.

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Small Business COVID Relief Packages: What to Do and What to Expect

Mar 11, 2021 9:37:52 AM / by CSI Accounting Staff posted in small business taxes, small business payroll, small business accounting

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The COVID-19 pandemic proved to be devastating to many small businesses. 163,735 U.S. small businesses closed their doors between March 1st, 2020 and August 31st, 2020. This resulted in the government setting aside some crucial relief efforts.

Whether you participated in the first round of PPP loans last year or not, there's still a good variety of relief packages available. The two most popular relief efforts are the PPP (Paycheck Protection Program) loans and the ERC (Employee Retention Credit), which will be discussed in this post.

NOTE: This information was up-to-date at the time that this post was written, but COVID relief laws are constantly being updated and changed. Please conduct your own research with reliable sources or contact us directly for updated information.

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What Makes CSI Different?

Mar 3, 2021 11:43:30 AM / by CSI Accounting Staff posted in small business taxes, small business payroll, small business bookkeeping, small business accounting, small business operations

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Any reasonable small business owner would ask themselves, "What makes CSI Accounting & Payroll so special? What do they do that my current bookkeeper and annual tax accountant don't? What about my payroll provider?"

You're here for a reason, and that reason is because all professional services are not made equal.You may have a need that is not being met with your current services. Let's see if we can be a good match for each other!

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What a New Presidential Administration Means For Your Small Business

Feb 16, 2021 4:32:30 PM / by CSI Accounting Staff posted in small business taxes, small business operations

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It's official: Joe Biden has been sworn in as the new president. Regardless of which party you associate with, you're probably wondering what this means for your small business.

New tax policies will likely be at the front of every small business owner's mind. Now that democrats control the House, Senate, and presidency, it will be easier for them to implement tax reform.

The following article contains an overview of what previous administrations did for small businesses, as well as what the Biden administration is expected to have in store.

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Why It's Difficult to Find a New Accountant During Tax Season

Jan 21, 2021 12:25:02 PM / by CSI Accounting Staff posted in small business taxes, small business bookkeeping, small business accounting

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Did you know that many accounting firms do not accept new clients during tax season? This can place small business owners in a difficult situation if they want to switch accountants or find their first business accounting service between the beginning of the year and April.

This blog is for you if:

  • You've been performing your taxes internally and are looking to save time.
  • You need guidance with your accounting software, such as QuickBooks or Xero.
  • You are just starting your business and do not have an accountant.
  • You've had an issue arise, such as falling behind on tax prep or being audited.
  • You don’t want to use the same accounting service from last tax season.
  • You want to look into different accounting methods, such as monthly accounting.

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How to Prepare Your Business For This Tax Season

Jan 7, 2021 10:00:00 AM / by CSI Accounting Staff posted in small business taxes, small business bookkeeping, small business accounting

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Hello, 2021! With tax season just around the corner, it's time to start getting ready to file. Are all of your forms prepared?

Tax season can mean extra stress for your business. Luckily, putting in a little effort ahead of time can save a lot of time come tax season. The following article will help get you through it!

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End of Year: Tax Law Changes

Dec 10, 2020 8:15:00 AM / by CSI Accounting Staff posted in small business taxes, small business bookkeeping, small business accounting

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Brian Paulson, the owner of CSI Accounting & Payroll, has put together some end-of-year planning tips.

He writes, "Everything we do is focused on the core belief that we succeed in life by helping others succeed. This letter is one complimentary piece of our intense planning and research effort throughout the year to help in your success. Feel free to share it with anyone you know who could benefit."

This section covers tax law changes in 2020. Tax laws are subject to change, of course, but this year has presented several transformations.

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End of Year: IRS Changes Due to COVID-19

Nov 25, 2020 10:07:24 AM / by CSI Accounting Staff posted in small business taxes, small business payroll, small business bookkeeping, small business accounting

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Brian Paulson, the owner of CSI Accounting & Payroll, has put together some end-of-year planning tips.

He writes, "Everything we do is focused on the core belief that we succeed in life by helping others succeed. This letter is one complimentary piece of our intense planning and research effort throughout the year to help in your success. Feel free to share it with anyone you know who could benefit."

This section covers a unique topic: changes in the IRS due to COVID-19. Pandemics definitely don't happen every day, but they can result in massive government changes.

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