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tax refund check

Could My Small Business Get a Tax Refund? 

By Small Business Advice

For a small business owner, paying taxes can be painful and challenging, unless you make a wise move to secure the services of a professional CPA. It is important to know that the government tax option for small businesses depends on the business structure.  Types of Business Structures and Their Tax Option  When a business is started, the owner (or owners) must select a specific type of business structure. Choosing a business structure has a direct impact on whether a business will be…

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business owner valuation

What is Small Business Valuation and Why is it Useful? 

By Small Business Advice

Many small business owners from time to time and for various reasons may ask themselves, “How much is my business worth?” The answer is not found in palm reading nor in some dartboard activity. Rather, it is found in a methodical small business valuation, which is simply the process of calculating the economic value of a business.  What Are the Reasons to Do a Small Business Valuation?  A small business valuation may be undertaken to obtain a bank loan, better assess a business’s…

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How to Create Business Goals for the New Year

By Small Business Advice

If you thought that New Year’s resolutions were just about getting fitter and healthier, then you should think again. Every January, in fact, many business people decide to set themselves some short, mid, or long-term business goals. The secret to success? It’s sticking to those business goals for the remaining 11 months of the year. This, though, is often easier said than done. Here’s how you can succeed at setting financial goals that are realistic and achievable, and that can take your…

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Business woman explaining charts to business man

How Can a Professional Accountant Help Your Small Business?

By Small Business Advice

Many small business owners may not be aware of the tasks performed by a professional accountant and how they can help your business flourish in the market. The vast array of roles and responsibilities performed by a professional accountant influences business operations in various sectors including, not-for-profit organizations, the public sector, academia, and regulatory bodies. The primary role of CPAs is to safeguard the integrity of financial reporting, but they also contribute to the progress and stability of society in general…

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Doerhoff Accounting Holiday Business Expenses, Tax Advice

‘Tis the Season: 3 Strategic Tax Tips for Holiday Business Expenses

By Accounting Advice, Small Business Advice

‘Tis the season to wrap up the year while still keeping in mind your holiday business expenses. You don’t have to be a Scrooge; there are some ways to enjoy the holiday season while still getting the most out of it. It can become challenging to know what should be considered a business deduction when it comes to holiday expenses, but that’s where we come into play. Keep on reading below to find out about holiday business expenses for taxes! 1….

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personal guarantee business loan

How Do Personal Guarantees Work When Taking a Business Loan?

By Small Business Advice

Lenders allow small businesses to borrow large sums of money in order to promote their businesses. Small business owners require additional means of assurance for lenders to approve their business loans.   Typically, a lender is likely to establish a line of business credit once they receive personal guarantees from business owners or executives. Signatures from these leaders in a business shift the business liability to the signatory.   Keep reading to learn more about how you can secure your…

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tax deadlines

Important Business Tax Deadlines in 2021’s Last Financial Quarter

By Accounting Advice, Small Business Advice

Running a business is hard work – it takes energy and time from your end. It can be easy to forget tax deadlines in the thick of building your business. As you approach the last financial quarter, make sure you know all the important dates. You don’t have to go it alone. Read on for all the last financial quarter tax deadlines you’ll want to keep track of in 2021: Types of Business Taxes to Track Before getting to deadlines,…

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Is Your Business Equipped to Handle Significant Growth?

By Small Business Advice

Growth is not a simple catchword, nor is it just a mantra for businesses. While growth is fundamental to the success and longevity of every business enterprise, it’s important to make sure your company is equipped to handle the significant changes it can bring.   We all want new business, but can your company take on the costs and workload required?    Why is Business Growth Important?    Business growth, properly approached and sustained, can allow a business to expand its products or…

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new business costs

Starting a New Business? Be Prepared For These Costs and Taxes

By Accounting Advice, Small Business Advice

Starting a new business can be exciting, but it comes with challenges, and it can’t be approached casually. Each new business owner faces the necessity of business planning, legal and tax planning, and planning for business startup costs.    Before starting a business, it is important to research the industry, the potential consumer base, the operating geography, and the competitive landscape.    What Are Expected New Business Startup Costs?  To avoid IRS problems and possible business failure, business expenses always need to…

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