Not many people enjoy having to crunch the numbers during tax time, but it’s something everyone has to do eventually. If you want to make this process go a little more smoothly, doing a bit of tax preparation before you begin can go a long way toward eliminating any future headaches. Here are some tips to keep in mind as you work to finalize the tax return for last year or your last financial quarter. Read More»
Understanding the ins and outs of property management accounting isn’t always easy. After all, there’s a lot to keep track of when it comes to managing income, expenses, and taxes for rental properties.
Luckily, understanding the unique aspects of property management accounting will make this process much more manageable. Here are three unique aspects of property management accounting that you should be aware of.
Income Tracking
Proper accounting often requires tracking rental income and payments. Read More»
With more and more Americans turning both hobbies and new pursuits into side businesses, understanding the IRS rules for hobby vs. business ventures is more important than ever. Can your side gig pass muster if the IRS asks for more information? Here are five ways that an accountant can help you ensure that it does.
1. Determine If You Made a Profit
The easiest way to convince the IRS that your side gig is really a business is to turn a profit. Read More»
Dealing with taxes can be stressful and confusing. You could easily become overwhelmed with all the paperwork, rules, deadlines, and other tax-related tasks that need to be managed. You may also make mistakes that could cost you money or put you at risk of an audit. Fortunately, a tax preparer can make the process of filing taxes much easier for you. Here are four ways they’ll do this.
Handling Complex Forms Read More»
If you are a roofing contractor, you know what it means to handle multiple roofing projects simultaneously. Most roofing contractors multitask to ensure the business runs smoothly. However, it’s a bad idea because you even handle tasks like accounting that a professional accountant should help you handle. Where possible, you should work closely with a reputable accountant because they help you organize your finances. So if you have been doing everything, including handling your finances, you should now invest in professional accounting services. Read More»