How to Manager Your Finances When Your Self-Employed

T-Sheets by Quickbooks
September 13, 2018

There are a lot of great things about being self-employed. You get to set your own hours, you’re in charge of your own future, and you can even wear sweatpants to work if you feel like it. But there are a few aspects of self-employment that aren’t so wonderful. For one, lying awake at night worrying about…. 

Link: 6 Exit Strategies for Your Rental Real Estate

The Real Estate CPA
November 1, 2018

Are we at the top of the market?

No one knows for certain, but we are on the longest bull market in history. And at The Real Estate CPA, we believe we’re closer to the top of the market than the bottom.

If you built up a large amount of equity over the last several years through appreciation and principal paydown, now might be a good time to offload some of those investments and lock in profits while it’s still a seller’s market. Especially the properties you don’t want to hold for the next 5 years, or through a recession or downcycle.

Link: Why Every Small Business Needs an Accountant

AllBusiness.com
October 2018

Is your business missing out on essential accounting resources that could help it grow? Money—it’s how you measure success in business. It’s also how you pay the bills, pay your employees, and keep your business running. Unfortunately, many small business owners are selling themselves short by operating without essential accounting resources, according to a survey by Clutch.

Link: IRS Provides Guidance on 20% Pass-Through Deduction, But Questions Remain

Forbes
August 9, 2018

The Tax Cuts and Jobs Act — signed into law on December 22, 2017 — gave birth to a brand new provision: Section 199A, which permits owners of sole proprietorships, S corporations, or partnerships to deduct up to 20% of the income earned by the business. While the provision has the potential to bestow a tremendous benefit upon owners of these pass-through businesses, since its enactment, no one has been able to, well…

Link: Year-End Tax Planning is Not Business as Usual; Things You Need to Know

MC Accountancy, CPA, Inc.
November 1, 2018

This has been a tumultuous year for taxes, with the tax reform that passed in late 2017 generally becoming effective in 2018, often with significant changes for both individuals and businesses. This is the first major tax reform legislation in more than 30 years, and to implement it, the IRS will have to create or revise approximately 450 forms, publications and instructions and modify around 140 information technology systems to ensure it can accommodate the newly revised or created tax forms, not to mention writing tax regulations for all of these changes – a daunting task for sure. The following are issues that could affect you and that you may need to plan for.   [READ MORE]

Link: Take Your Bookkeeping to the Next Level

Excelsior Growth Fund
March 30, 2018

Once your business is up-and-running and you’ve mastered basic bookkeeping concepts, you’re ready to take your understanding to the next level. Our Business Advisory Services team has compiled a few bookkeeping practices that will support your growing business. With these tips, you’ll be ready to:

  1. Leverage technology to integrate and automate bookkeeping processes and systems to save time and money
  2. Gain a better understanding of the balance sheet and how it impacts cash flow
  3. Make better business decisions based on accurate and timely financial statements

Work with your accountant to implement these practices and start moving your business toward even greater financial success.