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The Truth About Tax Prep Software and Your Business

May 7, 2019 10:45:00 AM / by CSI Accounting Staff posted in small business taxes, small business bookkeeping, small business accounting

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Every year, as business owners enter into the final stretch of tax season, tons of people and small businesses scramble to make sense of their financial statements, figuring out their own deductions, and struggling with some “free” tax prep software. Maybe you have just gone through that this year. 

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How the Government Shut Down Affects Tax Season For You

Jan 9, 2019 10:28:32 AM / by CSI Accounting Staff posted in small business taxes, small business accounting, small business operations

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The current government shutdown is affecting all kinds of nationally funded programs, but nowhere is it more evident than how it has shaped tax season this year. Already different because of the passage of the Tax Cut and Jobs Act, the real monkey wrench comes from the fact that 800,000 federal workers in nine different departments aren’t able to work. These departments include Agriculture, Commerce, Justice, Homeland Security, Housing and Urban Development, Interior, State, Transportation, and Treasury .

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‘Tis the Season: How the Tax Cuts and Jobs Act Changes the Deductions for Charitable Giving

Dec 26, 2018 12:23:00 PM / by CSI Accounting Staff posted in small business taxes, small business operations

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It’s the most wonderful time of the year! At the end of the year, charitable donations soar as individuals scramble to get them in before the end of the tax season. It feels good to give. (Really, you should do this. Giving is its own reward.) It also doesn’t hurt that in year’s past, you’d also get a big deduction for doing the right thing.

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Tax Planning Vs Tax Reacting: How to Save Money by Taking Action Now

Dec 20, 2018 2:12:00 PM / by CSI Accounting Staff posted in small business taxes, small business accounting

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We know nobody really likes tax season. However, the work you do now could be the difference between saving money or spending money in March and April. It helps to have a good accountant, but if you wait until the last minute, a tax accountant can only fill out your tax filings according to what’s already happened.

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The Three Biggest Changes to Tax Law in 2018 That Affect You Today

Nov 16, 2018 11:04:00 AM / by CSI Accounting Staff posted in small business taxes, small business accounting, small business operations

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Tax law isn’t static; it’s constantly changing. Deductions that were available last year aren’t available this year, the amount you can deduct changes, and there are even changes in how dependents work for deductions. We’re asked all the time about this, so here’s what you need to know about the three biggest changes to tax deductions in 2018.

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How Too Much Profitability Can Hurt Your Business

Oct 30, 2018 11:12:00 AM / by CSI Accounting Staff posted in small business taxes, small business bookkeeping, small business accounting, small business operations

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You’ve grown your business, you take pride in a satisfied customer base, and you have increased profitability year after year -- what’s the problem with that? As the poet Biggie Smalls once so eloquently rapped, “Mo' money, mo' problems.” While it’s obviously the goal to succeed as a business, here’s how too much profitability can hurt your business -- and where you can get the help you need.

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5 New Year's Resolutions for Your Small Business

Dec 28, 2017 8:48:00 AM / by CSI Accounting Staff posted in small business taxes, small business accounting

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2018 is almost here, and it’s time to make New Year’s resolutions. In addition to your personal resolutions, it’s a great time to set smart goals for your professional life too.

Looking for inspiration? Here are five of our favorite small business resolutions for 2018.

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Best Accounting Advice of 2017

Dec 21, 2017 9:00:00 AM / by CSI Accounting Staff posted in small business taxes, small business accounting

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3 Factors to Consider in Your 2018 Budget

Dec 15, 2017 8:41:05 AM / by CSI Accounting Staff posted in small business 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 CSI Accounting Staff posted in small business taxes, small business accounting

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

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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