Tax scams are afoot in 2025. Are you prepared? The IRS compiles an annual list of common scams known as the “Dirty Dozen” list to help taxpayers navigate threats.
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Recordkeeping Articles
Recordkeeping - Tips, Training, and News
How Long to Keep Business Records [+ Best Practices]
February 26, 2025Picture this: You own a small restaurant. One day, you receive an IRS notice, you’re being audited. Do you A) Panic or B) Calmly review your business records? If you know how long to keep business records (and which ones to keep), you’ll have the supporting documents needed to back up your tax return claims.
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What Is Zero-Based Budgeting? How it Can Help Small Businesses
July 5, 2024To stay on top of your business expenses, you need to constantly plan and update your small business budget. When you make a traditional budget, you use the previous budget and tweak it. This might not be the most effective way to make a budget, especially for small companies. Another option is zero-based budgeting. What […]
Read More What Is Zero-Based Budgeting? How it Can Help Small Businesses
Strategies for Minimizing Data Entry Errors in Accounting
April 11, 2024Mistakes happen all the time, just look at your phone the next time you’re texting someone or putting in your password. Entering numbers in your books is no different. Data entry errors are common, but unchecked mistakes can quickly tank the accuracy of your books.
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Your Guide to Accounting Software for Sole Proprietors
March 20, 2024Being a sole proprietor is a rewarding, but challenging, journey. Many sole proprietors view managing finances as one of the most challenging tasks. But thanks to accounting software for sole proprietors, financial management (and analysis) has gotten faster and easier.
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Receipts for Taxes and Your Business: What Do You Need to Hang Onto?
February 9, 2023Tax season might be once a year, but preparing for tax season is a year-round process. To back up your tax deduction claims, you need to keep business receipts. But, what kind of receipts for taxes do you need? And which small business receipts can you pitch?
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IRS Audit Triggers and How to Avoid Them
January 5, 2023You have a lot to deal with to keep your company operating. One thing you don’t want to have to handle? An IRS audit. While some audits happen randomly, others trigger from red flags in your records. What are these IRS audit triggers, you ask?
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Simple Recordkeeping for Small Business: Must-have Tips
December 22, 2022For 40% of small business owners, handling bookkeeping and taxes is the worst part of owning a business. Sound familiar? If so, you might consider shirking your recordkeeping responsibilities. It’s not a big deal, right? Wrong! Recordkeeping is one of the most important things you can do. And to make things easier on yourself, there […]
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How to Organize Your Business Finances: Top 5 Effective Ways
November 9, 2022The lifeblood of any business — large or small — is financial integrity. Efficiently managing your small business accounting can help determine your success. If you don’t know where to start, consider leveraging accounting software. By getting your finances in order, you will save a lot of hours, headaches, and dollars.
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Outstanding Deposit: The Basics for Small Business
November 8, 2022To keep your small business’s finances on track, reconcile your books and bank account statement. Sometimes, transactions are only recorded in one financial record when you reconcile the balances. If your books and bank account balances don’t match, you might have an outstanding deposit.
Read More Outstanding Deposit: The Basics for Small Business