entrepreneur

Payroll 101: What Is Payroll?

I scream, you scream, we all scream for payroll! 

If you're an employee who has ever gotten a paycheck, getting paid is a pretty awesome feeling. As an employer, payroll is pretty damn costly. It tends to be the biggest expense for most businesses and not just because of the actual cost of salaries. There are taxes too. Payroll can have complexity and any missteps may cost you. According to an IRS report, roughly 40% of small businesses incur an average of $845 per year in IRS penalties for errors with payroll tax filings and payments. 

Tax Strategies for Entrepreneurs

Tax Strategies for Entrepreneurs

Tax season is in full swing. And in celebration of today's tax deadline (March 15, 2017, is the deadline for filing 2016 S-Corp and partnership tax returns, or extensions, 2017 S-Corp elections, and 2017 Section 475 elections), here are my tax strategies for entrepreneurs. 

Accountant vs. Bookkeeper. Know The Difference.

Accountant vs. Bookkeeper. Know The Difference.

Not all accountants are bookkeepers and not all bookkeepers are accountants. Each play a role vital to your business.  Both bookkeeping and accounting rely on each other and share a common goal, but the processes for each varies.