UPCOMING TAX DEADLINE: SEPTEMBER 15, 2022   |

The eCommerce business model is not simple, it involves inventory management, understanding marketing spend, ever-changing digital market trends, basket sizes, understanding state taxes, amongst many other factors. eCommerce businesses need great accounting in order to understand how the business is doing financially, to make data-driven decisions, and to remain compliant with the IRS. Good accounting can help you grow your business, bad accounting could lead to failure of yo

Bookkeeping is a significant part of any business enterprise. It is known for being a tedious task, mostly because business owners would rather spend their time in other areas of the business, but a necessary practice to keep your business successful. Here are five of the most common bookkeeping mistakes small business owners make when approaching their company’s finances: Mixing Business and Personal Bank Accounts. Not having separate bank accounts for personal and business

According to the Small Business Administration (SBA), 20% of businesses fail in the first year. In addition to this statistic, only about half of small businesses survive pass the five-year mark and only 1 out of 3 will get to the 10-year mark. Some of the reasons that small businesses fail are: bad business plan, lack of financing and/or financial mistakes, and rapid expansion. As a business owner, how much time do you have in daily business operations to actually do the thi

You are a busy business owner and accounting responsibilities can be cumbersome. Outsourcing accounting services is a way of freeing up your time to focus on growing your business. One of the main reasons small to mid-sized businesses outsource accounting functions is to save money. What services can you outsource through your accounting firm? We’ll share some of those services with you, services we provide at CPA by Choice. Accounting and Finance Consulting You don’t have to

Accounting is the process of recording, maintaining, and communicating financial transactions pertaining to a business. Your small business depends on good accounting. Without accounting, you won’t be able to keep track of your business, you won’t know whether it is successful or not, and you will likely have difficulty when it’s time to file income taxes. You will also have a difficult time attaining bank loans and investors, because they often require detailed financial inf

Running a business is not an easy task. You are managing inventory, employees, customers, marketing, partnerships… the list goes on and on and on. At CPA By Choice we recognize the time and effort that YOU put into your business, therefore we want to ensure your bookkeeping and accounting records are receiving the attention it needs. Business owners’ busy schedules often cause accounting records to be overlooked. Organized accounting records have a positive impact on your bus

At CPA by Choice we want you to be prepared for the 2021 tax season. Some things will differ from your prior return, for example in an effort to encourage Americans to donate money to charity during the coronavirus pandemic, the CARES Act enabled taxpayers to deduct up to $300 in monetary donations in 2020 – even if they take the standard deduction. There are other changes for the 2021 tax season, we will ensure that the credits, deductions, and contribution limits available

Should you hire an accountant for your small business? Learn 5 essential benefits to hiring an accountant for your business: 1. Bookkeeping Professionals An accountant will source all your documents: receipts, invoices, and other documents that record business activity to post accounting transactions. At the initial stages of your business, it may seem simple to manage your own accounting, however as you advance and grow your business it gets complicated. Preparing source doc