Preparing for a Financial Audit A financial audit can be a daunting prospect for any small business owner. However, with proper preparation and organization, the process can be smooth and even beneficial for your business. An audit provides an opportunity to ensure your financial records are accurate, identify areas for improvement, and demonstrate your business’sContinue reading “Navigating Financial Audits: Essential Preparation Tips for Small Business Owners”
Author Archives: Chris Starn
Foolishness or Faith
Welcome to our message on 1 Corinthians 1:18-2:5, where we explore the profound message of the cross. In this passage, the Apostle Paul contrasts the world’s wisdom with the divine wisdom revealed through Christ’s crucifixion. To the world, the cross may seem like foolishness, but for believers, it is the power and wisdom of God.Continue reading “Foolishness or Faith”
Unlocking Success: The Top Benefits of Hiring a Bookkeeper for Your Small Business
The Benefits of Hiring a Bookkeeper for Your Small Business Running a small business comes with a myriad of responsibilities, and managing finances is one of the most critical yet challenging tasks. While some business owners attempt to handle their bookkeeping themselves, hiring a professional bookkeeper can offer numerous advantages that can significantly impact yourContinue reading “Unlocking Success: The Top Benefits of Hiring a Bookkeeper for Your Small Business”
Mastering Small Business Financial Statements
Understanding Financial Statements: A Guide for Small Business Owners As a small business owner, understanding your financial statements is crucial for making informed decisions and ensuring the financial health of your business. Financial statements provide a snapshot of your business’s financial performance and position, helping you to track progress, identify trends, and plan for theContinue reading “Mastering Small Business Financial Statements”
Home Sweet Tax Deduction: Unleash the Power of Your Home Office
Maximizing the Home Office Tax Deduction The home office deduction is a valuable tax benefit for small business owners and self-employed individuals who use a portion of their home for business purposes. By claiming this deduction, you can deduct a percentage of your home-related expenses, such as mortgage interest, utilities, insurance, and repairs, reducing yourContinue reading “Home Sweet Tax Deduction: Unleash the Power of Your Home Office”
Transform Your Life with the Wisdom of Psalm 1
Welcome to our in-depth exploration of Psalm 1, a foundational text that contrasts the blessed life of the righteous with the futility of the wicked. In this video, we dive into the historical context, authorship, and main themes of Psalm 1, offering insights that can transform your spiritual journey.
The QBI Deduction: Your Secret Weapon for Slashing Business Taxes
Maximizing the Qualified Business Income (QBI) Deduction The Qualified Business Income (QBI) deduction, introduced by the Tax Cuts and Jobs Act of 2017, offers a valuable tax break for owners of pass-through businesses. This deduction allows eligible taxpayers to deduct up to 20% of their qualified business income, potentially resulting in significant tax savings. ToContinue reading “The QBI Deduction: Your Secret Weapon for Slashing Business Taxes”
From Chaos to Clarity: Mastering Receipt Organization for Better Bookkeeping
How to Organize Receipts and Records for Easier Bookkeeping As a business owner, keeping your receipts and records organized is crucial for accurate bookkeeping and financial management. Proper organization not only helps you stay on top of your expenses but also ensures you are prepared for tax season and potential audits. Here are some effectiveContinue reading “From Chaos to Clarity: Mastering Receipt Organization for Better Bookkeeping”
Understanding Cash Basis and Accrual Basis Accounting: Which Is Right for Your Business?
The two primary accounting methods used by businesses are cash basis and accrual basis accounting. The main difference between them lies in when revenue and expenses are recorded. Cash Basis Accounting Under the cash basis method, revenue is recorded when cash is received, and expenses are recorded when they are paid. This means that ifContinue reading “Understanding Cash Basis and Accrual Basis Accounting: Which Is Right for Your Business?”
Employee vs. Contractor: Key Differences and Legal Implications
When it comes to hiring workers, businesses have two main options: employees or contractors. While both types of workers contribute to the success of a company, there are significant differences between the two classifications that have important legal and financial implications. Understanding these differences is crucial for businesses to ensure compliance with labor laws andContinue reading “Employee vs. Contractor: Key Differences and Legal Implications”
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