Maris & Associates, CPA's

Piggy banks are a great savings vehicle for younger children, but when they hit elementary school, consider opening a kid's account at a bank. It's a great way to start instilling the importance of gradually building up their balance as well as an introduction to the banking industry. Call us at (425) 338-0414.

Overspending can be the bane of businesses. However, it is important to note that not all expenses provide the same value. Searching for a skilled and professional accountant? Look no further! Contact us at (425) 338-0414 to schedule your consultation. We look forward to working together!

Life is rarely as linear as we expect it to be - sometimes it can take us a while to feel financially secure enough to begin saving for retirement. Whatever your circumstances are, it isn’t too late to start! Focus on what you can contribute to your retirement accounts as anything you can add now has the potential to grow over time. Remember to also consider when and where you want to retire, as this can also affect how much you'll need to save. Need an accountant? Why wait? Call us today at (425) 338-0414 to schedule a consultation!

Millions of homeowners face the tax ramifications of homeownership caused by mortgages, property taxes, capital gains, and more. Navigating this complex process is necessary in order to avoid any penalties from the IRS. Buying a home can impact your tax preparation and filing process, and it is important to know how this purchase can have tax implications on your overall financial status.

How Buying a Home Impacts Tax Preparation | www.financialhotspot.com Owning a home comes with many responsibilities, from regular maintenance to insurance and tax implications. Every year, millions of homeowners face the challenge of properly reporting all their deductions, credits, and taxable income from their properties when filing their returns. From mortgage int...

Hiring a bookkeeping professional or accountant is important for peace of mind. When software is used, that leaves room for errors and mishaps since an experienced professional is not reviewing the paperwork. Research shows that business owners spend approximately 33 to 100 hours a year trying to keep track of their taxes and bookkeeping. Let us do the heavy lifting for you. Contact us today at (425) 338-0414.

Being a freelancer has great perks but can be confusing on how to file taxes. Typically, freelancers will need to pay self-employment tax along with income tax. Self-employment tax is there to cover Medicare and Social Security taxes. We’ll save you hours of confusion and stress – you can count on that! Contact us today at (425) 338-0414 for more information about our services.

Did you know that setting up and reviewing a budget is directly related to startup success? We keep your finances in order so you can continue focusing on what you love! Call us at (425) 338-0414 to schedule a consultation.

Estate executors have important roles to play in fulfilling a deceased person’s wishes and financial affairs. It is their full legal obligation to ensure that all assets are distributed to the beneficiaries as well as many other job responsibilities. It is vital when naming an executor in your will that you choose someone you trust and who understands the executor process.

Understanding the Role of an Estate Executor | www.financialhotspot.com An executor of an estate has the legal responsibility of fulfilling the deceased's wishes, identifying, gathering, and safeguarding assets, and distributing them to the beneficiaries. These responsibilities can be complex depending on the decedent's financial situation and the intricate nature of th...

We’d like to wish our clients, business partners, associates, friends, and all of your families a happy Thanksgiving. We are grateful for your trust and loyalty! Thanks for being part of our family. 🦃🥧

Guidance to navigate through life's challenges towards financial success is just a call away! Contact us at (425) 338-0414.

From our family to yours. Wishing everyone a safe and Happy Thanksgiving! 🍁🦃

In cash-based accounting, companies document revenue when money is received. They record expenses when the cash is paid. Cash-based accounting is perfect for smaller businesses and professional service firms that do not hold inventory. In accrual accounting practice, income is reported when earned not when cash is received. Expenses are documented when money is incurred not actually paid. Accrual-based accounting is suitable for significantly larger and more complex businesses with inventory or shareholders and investors. Do you have accounting questions? We have the answers! Talk to us at (425) 338-0414.

A CPA is an accountant who takes care of all the math inside of your business dealing with financial planning, bookkeeping, tax returns, and more. Being a business owner is a lot as it is, especially when you add quarterly taxes and accounts receivable - tasks can start to pile up. No problem is too big, and no detail is too small. We are available to handle it all! Give us a call at (425) 338-0414.

Electric vehicles have many pros and cons, and a number of laws have been passed about them in recent years. For more information on its tax implications and any credits you might be entitled to, give us a call at (425) 338-0414.

Accounting practices and solutions benefit your business by improving your efficiency and productivity. It allows your business to achieve its objectives quicker and returns in investments through creating happier customers and employees.

6 Ways Effective Accounting Improves Business Efficiency | www.financialhotspot.com While running a business is often a rewarding endeavor, it involves many hectic processes. They include marketing, sales, product development, human resources, and management. Effective accounting methods allow your business to achieve its objectives faster by harmonizing these processes. Modern acc...

It's important for parents to establish positive financial habits in their children at a young age. Build saving and budgeting skills by providing a weekly allowance as payment for completing chores. When children have to work for their money, they’ll learn to use it more carefully! Contact us at (425) 338-0414.

Running a business without an accounting system can be very tricky. It is comparable to growing up and attending school without ever receiving a report card about how you did. It will be hard to know if you outperformed your numbers from last year and what you need to do differently this year. Spend more time focusing on your business and let us handle the rest! Call us at (425) 338-0414 to schedule a consultation.

It’s important to keep certain documents handy for business and tax purposes. Make digital copies and keep physical copies of your payroll documents, 1099 forms, tax returns, customer payments, sales receipts, customer invoices, cancelled checks, bank statements, and credit card statements. Searching for a skilled and professional accountant? Look no further! Contact us at (425) 338-0414 to schedule your consultation. We look forward to working together!

Expanding a business to have overseas operations often comes with tax-related challenges that can affect tax planning and compliance. Most multinational businesses must take these important topics into consideration with international expansion and success.

Important Considerations for International Business Tax Planning | www.financialhotspot.com International expansion can present various tax-related challenges, such as double taxation, indirect taxes, exchange rate volatility, and confusing tax codes. Organizations with overseas operations also have to juggle tax compliance and tax planning. While the former helps your company conform to r...

We'll save you hours of confusion and stress - you can count on that! Contact us today at (425) 338-0414 for more information about our services.

Every parent knows what it’s like to be inundated with requests from their kid for the newest toy or video game. Younger children, in particular, don’t understand that there’s only so much money you have each month for discretionary purchases. Encouraging kids to pay half the cost of the toy they want will give them a better sense of what things cost and how to save money. Contact us today at (425) 338-0414!

A trial balance is a type of bookkeeping worksheet with two columns, one for debits and one for credits, that ensures a company’s bookkeeping is mathematically correct. The reason it is called a trial balance is because it provides a test of a fundamental aspect of a set of books but isn't a full audit of them. They're often the first step in an audit procedure as they allow auditors to make sure there are no mathematical errors in the bookkeeping system before moving on to more complex and detailed analyses. If the total debits equal the total credits, the trial balance is considered to be balanced, and there should be no mathematical errors in the ledgers. Got more questions? Contact us at (425) 338-0414.

It's natural to be apprehensive when you want investors to back your business. A winning pitch, however, is essential for promoting your ideas and inspiring confidence in them. The key? Follow these seven tips that can help transform a standard presentation into one that will truly wow potential funders!

Need an accountant? Why wait? Call us today at (425) 338-0414 to schedule a consultation!

How to Craft a Better Business Pitch | www.financialhotspot.com Creating a business pitch can be one of the most challenging parts of the early business development process. You want to introduce potential investors to your business idea and show them why they should put their hard-earned money into your company. As such, you need a persuasive business pitch tha...

Retirement-specific saving accounts, such as 401ks, are a great way to build up your retirement nest egg. That said, there can also be drawbacks to these types of accounts. One common example is that before January 1, 2024, you typically can’t withdraw funds before age 59 ½ without incurring penalties or taxes. Whichever type of account you use, researching its advantages and disadvantages will help you make an informed decision. We'll save you hours of confusion and stress - you can count on that! Contact us today at (425) 338-0414 for more information about our services.

Keep an eye out for the zombie CPA and his pal, Account Dracula. Wishing you a happy and safe Halloween! Contact us, your trusted CPA, at (425) 338-0414 to schedule a consultation with us - don't worry, we won't cost you any limbs!

Parents often worry that discussing their financial situation with their children will cause undue stress. In reality, being open and honest about your family’s finances can help improve their understanding of budgeting and spending responsibly. It will also help prepare your child for the ups and downs of their own financial future. Contact us today at (425) 338-0414.

Managing your credit score is a vital aspect of personal finance and can have multiple effects on your ability to borrow money. Unfortunately, some people struggle with maintaining a good credit score due to a variety of reasons such as excess spending habits or a lack of financial education. Following these tips can help boost your credit score and get you one step closer to financial freedom. No problem is too big and no detail is too small. We are available to handle it all! Give us a call at (425) 338-0414.

5 Tips to Increase Your Credit Score | www.financialhotspot.com A good credit score gives you access to financing and positively impacts your ability to borrow money. It is also essential when seeking approval for a mortgage or rental and can affect your job opportunities. Unfortunately, some people struggle with maintaining a good credit score due to poor spend...

Your business isn't bookkeeping, but it is ours. Let us take care of it for you! Contact us today at (425) 338-0414.

Do not worry about your personal credit score being affected by a company-issued credit card. Consumer credit bureaus reports only affect individuals who personally guaranteed the debt on the business card. If you have more questions, don't hesitate to contact us at (425) 338-0414.

Spend more time focusing on your business and let us handle the rest! We are here to help you! Call us at (425) 338-0414 to speak to one of our financial professionals.

Intelligent investments are one of the best ways you can make your money work for you during volatile markets. Patience, research, and tips like these can make a world of difference when learning to develop a healthy investment strategy. Guidance to navigate through life's challenges towards financial success is just a call away! Contact us at (425) 338-0414.

Top 5 Tips for First-Time Investors | www.financialhotspot.com Inflation is marching forward at a dizzying pace. In the last year, it's risen to an alarming 4.5% and higher, so that savings account you rely on for your financial security is constantly being outpaced. One important strategy to outrun inflation is putting your money to work through intelligent in...

Board games can help kids learn the importance of thriftiness while having fun! Games like Payday and Monopoly can teach your children valuable budgeting, investing, and money management skills. Find the right game for your family and try it out at your family's next board game night! Give us a call at (425) 338-0414.

Want to take your budgeting to the next level? Try the cash envelope system. It allows you to keep tabs on exactly where each cent is going and how much money you have available for the month to spend. Using credit and debit cards can be tough since there is always the urge to buy more. This method will help you stay on track. Get 8 envelopes and label them: groceries, restaurants, gas, medicine, car maintenance, personal, entertainment, and gifts. Look back at your records and find out how much you spend in each of those categories per month. Then put those amounts in the envelopes. The trick is to not spend more than what you’ve allotted for each category. It might feel weird to use only cash at first, but it will get easier with time. Cheers to self-discipline! Need an accountant? Why wait? Call us today (425) 338-0414 to schedule a consultation!

Emergency funds can create financial buffers that will help keep you afloat during unforeseen expenses without having to rely on credit cards or high-interest loans. Emergency funds are particularly useful and important if you have debt because it helps you avoid accumulating more. If you have questions about how to set up your emergency fund, give us a call at (425) 338-0414!

Money management is a useful tool for young professionals looking to springboard their long-term financial and career success. Solid understanding of money management principles and goals can set the groundwork for a lifetime of good financial health, especially for those at the beginning of their careers. We keep your finances in order so you can continue focusing on what you love! Call us at (425) 338-0414 to schedule a consultation.

Personal Finance Tips for Young Professionals | www.financialhotspot.com Money management and financial planning topics don’t always get the attention they deserve. Many people regard personal finance as a sensitive subject best avoided in day-to-day conversations. However, it’s a crucial topic that significantly impacts everyone’s long-term success story. As a you...

Net income refers to the money you may have available after taxes and deductions are taken out of your paycheck. For a business, net income is the money that's left over after paying operating expenses, administrative costs, cost of goods sold, taxes, insurance and any other business expenses. Searching for a skilled and professional accountant? Look no further! Contact us at (425) 338-0414 to schedule your consultation. We look forward to working together!

Reviewing your finances can ensure that you're on track with your financial goals. Periodically review your budget, investments, and financial goals. Adjust your plans as needed to stay on track. Contact us at (425) 338-0414 to schedule a consultation!

Allocating a monthly amount for your debts can help you resolve outstanding high-interest debts. Prioritize paying off high-interest debts like credit cards. High-interest debt can quickly accumulate and become a financial burden. Contact us at (425) 338-0414 to schedule a consultation!

Money trouble can quickly put a damper on your business ambitions, but there are pitfalls you must be mindful of if you want to keep the finances healthy. From miscalculations to planning mishaps, here and some common cash flow mistakes that should always be avoided for successful enterprise growth.

To schedule a consultation, contact us at (425) 338-0414.

How to Avoid Common Cash Flow Management Mistakes | www.financialhotspot.com Cash flow is crucial to the survival of your business. Managing money is an essential skill that every entrepreneur must hone as their business grows, but cash flow challenges can arise for a variety of reasons. Cash flow issues can be caused by miscalculations, forced growth, problems collecting pa...

Getting everything on paper creates more space in your mind and less room for errors. Try making a budget worksheet. List all your income that you make each month. Next, write down all your expenses, then subtract the costs from your income. If you don’t hit zero after the last step, that means you have leftover money which is great! Keep track of all your transactions during the entire month so you can determine if you are overspending. Before the month ends, make a new worksheet for the next month. Keep your small business books in order with our bookkeeping services! Give us a call at (425) 338-0414 to get started today.

Guidance to navigate through life's challenges towards financial success is just a call away! Contact us at (425) 338-0414. We can't wait to start working together!