You started a business. Things are going well and you are actually making some money. You have been doing all of the bookkeeping yourself but you really do not know if things have been done properly. How do you know if your bookkeeping is right? What can you look at to see if your books are done correctly? […]
Author Archives: Cindy Hovig
06
Apr
Apr
You have finalized your bookkeeping and have closed or locked your books for last year. But what needs to be done if you discover that something needs to be changed in your closed books? Does closing the books mean that you cannot change any of the information from the past? Closing your books protects you […]
15
Feb
Feb
You know you need accurate information to make good business decisions. You have been using an accounting system and are able to generate reports. Your reports should provide you with the information you need but you are unsure if your numbers are accurate. Two of the most common accounting reports are the balance sheet and the profit […]
06
Jan
Jan
You know you need accurate and up to date information to successfully run your business. You want to use accounting software that will work for you. Which accounting software should you use? No matter which accounting software solution you choose, you need to determine your bookkeeping needs and make sure that the solution will satisfy […]
09
Dec
Dec
The preparing and filing of your 1099s can be time-consuming at best and frustrating at worst. We prepare hundreds of 1099s every year and have learned some lessons along the way. Here is what we have learned to make preparing and filing 1099s a little less painful. Make the preparation of your 1099s this year […]
08
Dec
Dec
You have decided to start your year-end planning early. You have gathered the facts to calculate your current net profit. You have your projections for income and expenses for the rest of the fiscal year. You have even set a realistic goal for your profit. What do you do now? Now comes the fun part! […]
01
Dec
Dec
You don’t know where to start with your year-end planning. You want to know in advance what your profit will be at the end of the year. More importantly, you want to know if there is anything you can do to change your net profit at the end of the year. A big part of year-end […]
16
Nov
Nov
You feel anxious about your taxes. You want to know ahead of time what your profit will be for the year. And you want to plan the strategy for your profit. When should you even start planning for your year-end? The good news is that by planning ahead you can both estimate and control your profit for […]
06
Oct
Oct
In the past six months, all of our lives have changed. A year ago could you have imagined needing to wear a mask when you go outside? Could you imagine not being able to visit your family or go on a vacation? It is safe to say that really none of us could imagine the new ways […]
10
Jun
Jun
On June 5, 2020, President Trump signed into law the Paycheck Protection Program Flexibility Act (PPPFA). This law brings changes to the Paycheck Protection Program (PPP) that PPP loan borrowers should be aware of. PPPFA changes the amount of funds to be spent on payroll to 60% The PPFA reduces the amount of the loan […]