Have you ever wondered how a small business bookkeeper handles the bookkeeping for their own business? Think about it, if you are using an outsourced bookkeeping service they have to handle their own business bookkeeping. Ask them what they do for their own bookkeeping that you currently are not doing. Here are the key things […]

Responding to concerns that some partnerships required to report capital account information may be unable to comply, the IRS is postponing the requirement to report partners’ shares of partnership capital on the tax-basis method for 2019 (for partnership tax years beginning in calendar 2019) until 2020 (for partnership tax years that begin on or after […]

Christmas has arrived in our office!  The Christmas tree is up, the first tin of chocolates is being devoured and we have made our annual collection for a local charity. Three years ago we decided to forgo our Secret Santa in the office and donate what we would have spent to a local charity.  The […]

Every small business should pay attention to emerging trends for 2020 and beyond. Let’s look at a few of these trends and how they can impact your bottom line. Remote Work is Growing According to TalentLMS, an online learning platform company, as of 2019, the number of companies with a remote workforce is getting bigger — […]

We have helped plenty of small business owners with opening a yoga studio but mostly from a business perspective.  Yoga studio bookkeeping is one of our industry specialties due to how many yoga studios we have done bookkeeping and business consulting for.   The one thing I have noticed about all the yoga studio owners […]

News Foreign Income & Taxpayers By Sally P. Schreiber, J.D. {:else} {timeSince} {/if} {@if cond=”{isCGMA}”} {:else} {/if} {/.} The IRS on Monday issued detailed guidance on the Sec. 59A base-erosion and anti-abuse tax (BEAT), which was added to the Code by the law known as the Tax Cuts and Jobs Act, P.L. 115-97. Monday’s regulations […]

The IRS announced Monday that it is extending the due dates for sending certain health care information statements to individuals as required under the Patient Protection and Affordable Care Act (PPACA), P.L. 111-148 (Notice 2019-63). The IRS has extended the date every year since the PPACA’s requirement went into effect because a substantial number of […]

Can a business owner do everything?  We would like to think we can but as our business grows inevitably we need help. But what help do we need and where do we get it? What help do you need? That depends on what you can do and what you do best for your business.  Are […]

In past blogs, I’ve encouraged you to create and maintain a checklist of tasks that you want your bookkeeper or accountant to perform at least once a quarter. But checklists only go so far. I also believe business owners and their accountants/CPAs should meet in person each quarter. Yes, we’ll talk about your numbers, but let’s take […]

After nearly 20 years since the current set of life expectancy tables were released by the IRS, the IRS released proposed regulations to update these tables for an increase in the average lifespan. In this episode, Bob Keebler, CPA/PFS will discuss practical knowledge that will help best serve your clients: What are the changes you […]