A Pass-through Entity such as a Sole Proprietor, Partnership LLC, or S Corporation, file an informational-only return with the Government, and the business itself does not pass taxes. the income flows through to the owner’s personal income tax return and pays tax on it personally.
What is a Pass-Through Entity? Read More »
Part 2 – Keeping Score: Cash vs. Profit – Loan Payment One of the most commonly misunderstood concepts in business is, “Why is my profit position different than my cash position?” Profit and cash flow are both essential elements of a business, but they are not the same thing. To manage your business, you
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Part 2 – Keeping Score: Cash vs. Profit – Loan Payment One of the most commonly misunderstood concepts in business is, “Why is my profit position different than my cash position?” Profit and cash flow are both essential elements of a business, but they are not the same thing. To manage your business, you
Part 3 – Accrual Accounting Read More »
Part 4 – Keeping Score: Profit Distributions One of the most commonly misunderstood concepts in business is, “Why is my profit position different than my cash position?” Profit and cash flow are both essential elements of a business, but they are not the same thing. To manage your business, you must understand the difference between
Part 4 – Profit Distribution Read More »
Setting Sales Goals with KPIs A break-even analysis is a necessary part of any solid business plan. This empowers us to know where our sales revenue needs to be to cover the costs of running your business and help us quickly establish sales targets for desired levels of profitability. With any business, setting sales goals
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Businesses start and fail at a staggering rate. Every year over a million people start a business of some sort and by the end of their first year at least 40% of them will be out of business. Within five years, more than 80% of them will close. In 10 years, 96% of them will
Tips on How to Develop a Budget for Your Small Business Small businesses have a high mortality rate. One way of reducing the chance for failure is to prepare a budget and a set of financial projections annually. Small business owners cannot just look out the window and come up with pie-in-the-sky numbers or hope
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Help Me Save on Taxes We sat down with a team of professional CPA’s with well over 180 years of combined experience asking them questions all small business owner would want answers to in regards to saving money on taxes. These questions were aimed specifically to small businesses, however, whether you own a business or
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Did your business receive a Tax Audit Notification letter in the mail? What should you do and how should you resolve this? Panic is usually your first reaction. Then after a few minutes you realize you’ve been working with a professional accountant who supports you in situations like this. Avoiding some of the most common
IRS Red Flags: 7 Tax Tips to Prevent Triggering an Audit for Small Business Owners Read More »
Topic: Tax Credits: Employee Retention & Work Opportunity Presented by: Andy Johns, CPA at EWH Small Business Accounting & Randy Brinkmann, CPA, Partner at EWH Small Business Accounting Date: Apr 8, 2021 09:00 AM Learn what you need to know about the Employee Retention and Work Opportunity Tax Credits. From who is eligible, how PPP
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