Taylor Dollens, CPA

Welcome, September! A new month means a fresh start, new goals, and a chance to stay on top of your financial game. For our amazing monthly clients, it is also a reminder that it is time to start uploading your bank statements for your monthly reconciliation services. Keeping your financial records organized and up to date is key to making smarter business decisions and staying prepared for whatever comes next. Let’s work together to make this month smooth and successful by getting all your documents in order early. Reach out if you need any assistance—we are here to help you every step of the way!

A little Friday Motivation as we close out the month, let's take a moment to celebrate our progress and set our sights on the new month ahead with four key goals in mind: growth, gratitude, grace, and goals. Reflect on how far we've come and express gratitude for the journey and the lessons learned. Approach any challenges with grace, knowing they are opportunities for improvement. Set new goals that inspire growth and push us to new heights. With this positive mindset, we're ready to tackle the new month with enthusiasm and determination! Here's to ending the month strong and embracing the next one with optimism and purpose!

Taxpayers should always be on the lookout for scams. Thieves want to trick people in order to steal their personal information, scam them out of money, or talk them into engaging in questionable behavior with their taxes. Scam attempts can peak during tax season, but taxpayers need to remain vigilant all year.

Gift card scams are on the rise. In fact, there are many reports of taxpayers being asked to pay a fake tax bill through the purchase of gift cards.

Here's how one scenario usually happens:
Someone posing as an IRS agent calls the taxpayer and informs them their identity has been stolen. The fake agent says the taxpayer's identify was used to open fake bank accounts. The caller tells the taxpayer to buy gift cards from various stores and await further instructions. The scammer then contacts the taxpayer again telling them to provide the gift cards' access numbers.

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Imagine your business as a puzzle. The four missing pieces for a thriving business are cash flow management, proactive tax planning, monthly accounting, and strong financial reporting. Cash flow management keeps your money flowing smoothly, ensuring you can cover expenses and invest in growth. Proactive tax planning helps you save money by finding tax-saving opportunities ahead of time. Monthly accounting keeps your financial records accurate, so you always know where your business stands. Strong financial reporting gives you a clear picture of your business's performance, helping you track progress and plan for the future. Put these pieces together, and watch your business thrive!

Big savings is calling you right now with our new tax strategy program, are you going to pick up? The goal of tax strategy is to remain informed, educated, and nimble as you plan throughout the year for tax preparation. A tax strategy is a plan of action for reducing taxes, regardless of your business or investment situation. It is more than just wishing you could pay fewer taxes. It is a strategy crafted to ethically and morally ensure you pay the least amount of tax allowable by law.

And I can help you craft that plan! If you are interested in learning more about our Tax Strategy Program for you small business, give us a call to schedule a consultation today!

Work-from-home business owners can save money by deducting several key expenses. You can deduct a portion of your rent, mortgage interest, and utilities for your home office. Technology and equipment costs, like your computer, printer, and software subscriptions, are also deductible. Don’t forget to claim your internet and phone expenses. Office supplies, such as paper and printer ink, can add up and are deductible too.

Taking advantage of these deductions can significantly lower your tax bill. Keeping detailed records and receipts is important to ensure these deductions are eligible. Interested in maximizing your deductions and learning more about our tax strategy program? Contact us today. Our experts are ready to help you keep more of your hard-earned money.

Switching from an LLC to an S-Corp can save you thousands in taxes each year, and it's simpler than you might think! As an LLC owner, you pay self-employment taxes on all your business profits. However, with an S-Corp, you can split your income into salary and distributions. You only pay self-employment taxes on your salary, while the distributions are not subject to these taxes. This can significantly reduce your tax bill and keep more money in your pocket.

S-Corp benefits are especially great for small business owners! By paying yourself a reasonable salary and taking the rest of the profits as distributions, you lower your overall tax burden. Plus, S-Corps allow for easier retirement planning and health insurance deductions. You can also avoid the double taxation that C-Corps face. This means more of your hard-earned money stays with you and your business, helping you grow and invest in the future. Switching to an S-Corp is a savvy move that can lead to big savings and greater financial flexibility.

Hiring a CPA to handle monthly accounting, tax strategy, and proactive tax planning is a smart investment that offers many benefits. A CPA ensures your financial records are accurate and up-to-date, helping you avoid costly errors and penalties. They keep track of all your income and expenses, providing a clear picture of your financial health. With a CPA managing your accounts, you can focus on running your business without worrying about financial details.

A CPA also develops tax strategies tailored to your business, maximizing deductions and credits to reduce your tax bill. Proactive tax planning helps you prepare for future tax liabilities and take advantage of tax-saving opportunities. Their expertise saves you time and stress during tax season, ensuring you are always compliant with tax laws. The financial savings and peace of mind provided by a CPA make their services a valuable investment that pays for itself.

We know, our monthly reminder emails asking you to upload your bank statements get annoying. However, us getting a copy of your bank and credit card statements is easily the most crucial step in the reconciliation process. Accountants ask for copies of clients' bank statements to ensure all income and expenses are accurately recorded. This verification helps match financial records with actual transactions, preventing errors or omissions that could lead to problems later. Accurately tracking income and expenses is crucial for creating reliable financial statements and filing taxes correctly. It also helps business owners make informed decisions by providing a clear picture of their financial health. Keeping detailed and accurate records avoids potential legal issues and ensures compliance with tax laws. Proper tracking also identifies opportunities for cost savings and financial growth, making it essential for any successful business.

Did you know the tax planning season is from May to December? That means we are in the middle of it currently! Now is an ideal time for businesses to check their finances and review the current state of their books. Mid-year financial reviews help identify any issues early and allow for adjustments before the year-end rush. As the year progresses, opportunities to be proactive decrease, making it harder to address problems effectively. Taking action now ensures everything is in order and can prevent last-minute stress. Contact us today to learn more about proactive tax planning and strategy!

It’s a powerful tool that helps businesses stay in touch with their customers' ever-changing preferences and an invaluable resource to help a business make informed decisions based on market insights. You can bet the competition is already doing this. Market research is crucial for understanding your customers and the market. It involves gathering information about your target audience, competitors, and industry trends. This helps you make informed decisions, create effective marketing strategies, and meet customer needs. Good market research can identify opportunities for growth and help you stay ahead of the competition. It’s a key step in developing a successful business strategy.

Budgeting is essential for any business to manage finances effectively. It involves planning your income and expenses to ensure you have enough funds to cover your needs and achieve your goals. Start by listing all sources of income and then outline all your expenses, including fixed costs like rent and variable costs like utilities. Track your spending regularly to stay on budget and make adjustments as needed. A well-planned budget helps you make informed financial decisions, avoid overspending, and save for future investments. With careful budgeting, you can keep your business on a solid financial footing.

Kickstart your week with positive energy and determination! Remember, every Monday is a fresh start and an opportunity to set new goals and achieve great things!

Several important tax deadlines are approaching that you need to be aware of. For most states, the state sales and use tax deadline is coming up soon. This means businesses must file and pay their sales and use taxes on time to avoid penalties and interest charges. Keeping accurate records and ensuring timely submissions are crucial to staying compliant with state tax regulations.

Additionally, if your business filed for an extension on your tax return, the extended deadline is fast approaching. Make sure you have all necessary documents and financial information ready to file your return by this date. Also, don’t forget the upcoming estimated tax payment date. If you make quarterly estimated tax payments, it’s important to submit your payment on time to avoid penalties. Staying on top of these deadlines helps maintain your business's good standing and prevents unnecessary financial stress. Contact us if you need any assistance with your filings.

The employer-provided Childcare Tax Credit is an incentive for businesses to provide childcare services to their employees. This tax credit helps employers cover some costs for childcare resource and referral and for a qualified childcare facility. A qualified childcare facility is one that meets the requirements of all laws and regulations of the state or local government in which it’s located.

The credit is worth up to $150,000 per year to offset 10% of qualified childcare resource and referral costs and 25% of qualified childcare facility costs. To be eligible for the credit, an employer must have paid or incurred qualified childcare costs during the tax year to provide childcare services to employees.

If you are interested in learning more if you qualify, contact us today to talk more tax strategy!

Back-to-school expenses can be a tax write-off for qualifying taxpayers. If you have children in school, certain educational expenses like books, supplies, and even some tuition fees may be deductible. This can help reduce your taxable income and lower your tax bill. Additionally, classroom teachers can deduct up to $300 for classroom supplies they purchase out of pocket. These deductions can provide some financial relief and make the back-to-school season a little less stressful. Make sure to keep receipts and records of all qualifying expenses to take advantage of these tax benefits.

Stay ahead with our newsletter!! We send out multiple emails per week to our newsletter subscribers. By signing up, you'll receive timely updates on relevant tax tips, strategies, and industry news that can help you make informed financial decisions for you and your business. Our expert advice and insights will keep you prepared for tax season and beyond, ensuring you never miss an opportunity to save. Don’t miss out on valuable information that could impact your business’s bottom line. Follow the link in our bio on Instagram to sign up and stay connected with all the latest from our team!

Our August bookings are now open. If you have been thinking about learning more about our services and what we can offer you and your business now is the time! August is officially open for booking through our website. Visit our website to learn more about our comprehensive services including monthly bookkeeping, tax preparation, tax strategy, and more.

Schedule your consultation today and let's crush through financial goals this fall! Comment or message us and we can help get you scheduled as well!

Monthly Clients: You know what this means! It is time to reconcile those monthly accounts!

If you are interested in our monthly services and keeping your books up to date? Give us a call to schedule a consultation today!

The client reviews are in! ⭐⭐⭐⭐⭐

Implementing the right strategies throughout the year can lead to big savings when tax season rolls around. By planning ahead, you can take advantage of deductions, credits, and incentives that you might otherwise miss. This means more money staying in your business and less going to taxes. A good tax strategy helps you manage cash flow, reinvest in growth, and stay financially healthy. We are a few months already into the tax planning season and now is the perfect time to get on board! If you are interested in learning more about tax strategy, reach out to schedule a call today!

Keeping up with your bookkeeping year-round is like having a superpower for your small business! Regularly tracking your income and expenses every month not only helps you stay organized but also gives you a clear picture of your financial health. This proactive approach means no more last-minute scrambling during tax season. Plus, you'll spot trends, identify growth opportunities, and catch any financial issues early on. By staying on top of your books, you can make informed decisions, maximize your deductions, and ensure your business is on the path to success. So, embrace the power of monthly bookkeeping and watch your business thrive!

Maximizing deductions is like finding hidden treasure for small businesses! Every little expense, like travel, office supplies, and bank fees, can add up to big savings. Many small expenses are often forgotten, but they can really add up. By keeping good records and knowing what can be deducted, businesses can keep more of their hard-earned money. This saved money can be used to grow the business and ensure its long-term success. If you are interested in learning more about what deductions your small business could be taking advantage of, reach out to schedule a call to talk tax strategy!

Ever wondered what our monthly services were like? Ever thought it would be this easy? Our monthly reconciliation bookkeeping service makes it easy! We handle all the nitty-gritty details—balancing accounts, booking journal entries, and ensuring everything adds up seamlessly. Stay focused on growing your business while we take care of the numbers. Simplify your financial management today and let’s keep your books in perfect order, month after month. Get started with us and experience hassle-free bookkeeping like never before!

Taylor Swift once said.... Seriously though being a business owner can be extremely frightening! It's about facing your fears, learning as you go, and not letting doubts hold you back. Every step forward, no matter how small, brings you closer to your goals. So, embrace the challenge, trust in your abilities, and take that leap of faith—you've got this!