In recent times, the financial landscape has witnessed a significant shift from the implementation of new regulations aimed at enhancing transparency and combating illicit financial activities. One such regulation that has garnered attention is the requirement for reporting beneficial ownership information. This mandate, enforced by the Financial Crimes Enforcement Network (FinCEN), marks a crucial step...
Category: Accounting
How to Create a Business Budget and Why It’s Important
As the new year approaches, it’s time to give some thought to a new budget. Being on top of your finances is a great way to start the new year out fresh and we want to help you get started on the right track! In this article, we will highlight the benefits of having a...
Our Favorite Business Tech Stack Apps and Why We Love Them
This may sound like a bold statement, but: the backbone of business success lies in a well-constructed tech stack. Let us explain. A well-rounded tech stack can offer insights that can dramatically improve efficiency and provide insights that help drive decisions for your business’s growth. The apps in your tech stack will ideally minimize the...
Latest IRS Updates: Here’s What You Need to Know
Knowing that the Internal Revenue Service is constantly adapting to the changing landscape of tax regulations, we hope to best serve you, the taxpayer, by providing a comprehensive update covering the latest IRS updates and changes. Continue reading to learn if any of them apply to you! Latest Updates: IRS Ends Unannounced Revenue Office Visits...
What to Expect With Outsourced Accounting Services
In today’s business landscape, outsourced accounting services have become a growing trend. These accounting services provide companies with an efficient and cost-effective solution for managing their financial operations. In this article, we will take a look at: The multitude of benefits that outsourced accounting services provide The types of accounting services you can expect to...
How to Analyze a Budget to Actual Report
Analyzing the budget to actual report provides valuable insight into a business’s financial health and success. It’s a comparative tool that, in short, shows business owners how they are doing against how they projected themselves to be doing. To describe it in a bit more detail, the budget to actual report allows business owners to...
Understanding Famli Tax in Colorado
The FAMLI Tax in Colorado is paving the way for a new generation of success. It’s crucial to have a job that enables individuals to prioritize their well-being and their loved ones. A job that allows individuals to strike a healthy work-life balance ensures that they can devote ample attention to their personal needs and...
How Can a Virtual CFO Help Your Business?
A virtual CFO (Chief Financial Officer) is, essentially, a financial wizard. They may not be able to cast spells or concoct potions, but the number of financial services they provide are enough to be seen as pure magic. However, while a standard CFO is in-house, a virtual CFO is outsourced, remote, and typically works on...
How to Implement Strong Tax Strategies for Business Owners
As a business owner, one of your responsibilities is to manage your tax obligations but implementing tax strategies for business owners can be overwhelming. However, with the help of tax planning, you can implement strong tax strategies. Implementing Tax Strategies for Business Owners Requires a Tax Plan Tax planning is a crucial aspect of managing...
R&D Tax Credit 2022: What You Need to Know Before Filing
As a business owner, you know how important it is to keep your expenses as low as possible while maximizing profits. One way to do this is by leveraging tax credits. The Research and Development (R&D) Tax Credit is a federal incentive that allows businesses to receive a tax credit for certain expenses related to...