Blog

Self-Care: Keeping Yourself Happy & Healthy During Tax Season and Beyond

In the modern era, American professional culture has become increasingly focused on celebrating the go-getters, the hustlers, and the workaholics. While working hard isn’t a bad thing, it’s troubling to find ourselves in a world that craves individuals who work 60-80 hours per week. So with all of the emphasis on working harder and putting […]

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An Intro to Self-Employment Taxes

They say that the only things that are certain in life are death and taxes. And taxes are an especially important reality for business owners. If you previously worked for another company or employer, chances are good that you had taxes withheld from your paycheck to cover your annual tax liability. But what you may […]

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Depreciation: What It Is & How It Works

Every year when tax season rolls around, we tend to see an increase in all of the usual tax jargon being thrown around like carrybacks, deferrals, or depreciation. Let’s face it – taxes are complicated and, as a business owner, chances are good that you’re not an expert when it comes to tax law, so […]

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Tech Spotlight: Mileage Tracking

Nobody likes leaving easy money on the table, but sometimes you don’t even realize how much you’re missing. One of the biggest deductions available to any business owner is the mileage you rack up on your personal vehicle traveling back and forth between offices and to client meetings. It’s all too easy to forget to […]

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How Much is Too Much to Pay for Unemployment Insurance?

Every year, Illinois collects an excess of $5,500,000 worth of unemployment insurance from companies over what they should. That excess would likely not be paid if these companies were better prepared and more diligent when contesting fraudulent or spurious unemployment benefit claims. As a result, if the benefits were paid, it also means the unemployment tax […]

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Is Cloud Accounting for You?

Cloud accounting software is similar to traditional, desktop based solutions, with the difference being that it is hosted on remote servers. Data is sent into the “cloud” where it is processed and stored. The benefits to the end user include access to real time data from anywhere with an Internet connection, and from any device–including laptops, smartphones, and […]

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Tax Deductions for Small Businesses

Check out what you can deduct on your taxes as a small business owner. Always be sure to have a professional prepare your taxes to get the money you deserve. Home Office Deduction If you use a portion of your home for business, you may be eligible for a home office deduction. Add up the […]

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How to Deal with Late Paying Customers

Most small business owners will have to deal with slow-paying customers at some point. It is not only awkward and annoying, but it can also cause a serious cash flow problem if too many customers miss their deadlines. Below are some tips and tricks to encourage faster payment from your more sluggish clients. Send Online […]

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5 Tips for Creating a Convincing Forecast for the Bank

As a small business owner, it is often difficult to obtain the loans you need. Here are 5 ways to increase your chances of securing business loans to run your company successfully. Create Contacts Build relationships with individuals who work for local banks. Keeping them up-to-date on the status of your business will facilitate trust […]

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