Understanding Depreciation and Amortization
4.5 MIN READ With tax season just around the corner, many people will talk with their CPAs and tax planners to see if any last-minute changes should be made to minimize the tax...
Three Things You Need to Know About Receipts as a Small Business Owner
4 MIN READ Receipts are a pain. Many business owners might even call them their nemesis. But however big of a headache receipts may cause you, they’re necessary for good...
A Small Business Owner's Guide to Section 105 Plans
6.5 MIN READ Most businesses start small, and many stay small by design. If you’re the owner of a small business where things start and end with you, you should know about Section...
A Beginner's Guide to Reading Financial Statements
5 MIN READ Financial statements are your business’s report card, and as such, they paint a picture of your company’s financial health. They’re so important that they should be at...
The Home Office Deduction for Small Businesses
4 MIN READ With an ever-growing focus on work/life balance, more and more workers are making the transition from working in the office to working from home. In this new age of the...
Should You Be Making Estimated Tax Payments?
5 MIN READ Should you be making estimated tax payments? Hard tellin’, not knowin’. Fortunately there are a few quick checks to help determine if you should fork over some money to...
Are You Properly Tracking Assets and Liabilities?
4.5 MIN READ We review a lot of books here at FA Bean Counters, and time and again we see a common mistake when it comes to balance sheets: not all assets and liabilities are...
How to Deduct Auto Expenses
7 MIN READ If you use your vehicle for business purposes, you may be wondering if and how you can deduct this auto expense from your taxes. The short answer is yes. Business use...
Cash vs. Accrual Accounting: What’s Best for Your Business?
4 MIN READ Cash and accrual accounting are the two main methods of accounting, and knowing the differences between the two and how each one works will help you choose the best...