When it comes to tax problems, most business owners would rather walk barefoot across a bed of Legos than deal with the IRS. And we get it. Letters from the IRS are nerve-wracking. But at Edgewater CPA Group, we’re here to set the record straight. Tax resolution doesn’t have to be scary, and it certainly doesn’t mean you’re out of options. Let’s clear up five of the most common myths that might be holding you back from getting the help you need.
Most business owners start with a dream, and then quickly get buried in spreadsheets, tax deadlines, and the constant hustle to stay profitable. Sound familiar? At Edgewater CPA Group, we know that managing the day-to-day is only half the battle. The real key to long-term success is strategic growth, and that’s where our growth services come in. Read on if you’re ready to stop treading water and start scaling up.
Making wise business decisions is crucial for the success and growth of any company. As a business owner, you may find yourself faced with tough choices that could significantly impact your bottom line. That’s where the expertise of Edgewater CPA Group comes in. With their years of experience and in-depth knowledge of financial strategies and business growth, we can help guide you toward making smart decisions that will benefit your business in the long run. Keep reading to learn more.
A business merger or acquisition can be exciting for both employers and employees. However, for payroll and controller professionals, it can also mean a lot of additional tasks and challenges. As one of the key departments during a merger or acquisition, it’s important to start planning early and be aware of some of the most common hurdles. Below, Edgewater CPA Group shares some tips and best practices for navigating accounting duties during a merger.
Owning a small business is an exciting and fulfilling journey, but it also requires a lot of hard work and attention to detail. One of the most crucial tasks that small business owners should always prioritize is bookkeeping. Bookkeeping may sound like an intimidating task, but it is simply the recording, storing, and organizing of financial transactions. Edgewater CPA Group explains further why you don’t want to skip bookkeeping for small businesses.
Good financial organization is key to a stress-free tax season. By keeping track of your income and expenses throughout the year, you’ll make it easy to find everything you need when it comes time to file your taxes. You’ll also be able to avoid any potential penalties from the IRS. So, Edgewater CPA Group walks you through how to keep your business bookkeeping organized for all your tax filing purposes.
Small business owners are often overwhelmed with the task of bookkeeping. The responsibility of tracking income and expenses and ensuring that all financial records are accurate can be daunting. However, making mistakes in your bookkeeping can have severe consequences for your business. So, let Edgewater CPA Group help you avoid these five common mistakes that small business owners make in their bookkeeping.
No business owner looks forward to a business tax audit. The very word conjures up images of stern government officials searching through your records with a fine-toothed comb. But the reality is business audits can be a helpful exercise for any business, as long as you know what to expect and how to prepare. Below, Edgewater CPA Group discusses what a business audit is, what to expect during the process, and how to prepare yourself and your company. By the end, you will have a better understanding of how to approach an audit and come out on the other side successfully.
When starting a business, one of the first decisions you’ll need to make is what type of business structure to use. There are several business structures to choose from, but one of the most popular is the Limited Liability Company or LLC. An LLC business offers some benefits over a Sole Proprietorship or a Partnership, and it is also a tax-efficient way to run a business. When you work with Edgewater CPA Group, we’ll help you explore how LLCs work and some of their benefits.
If you’re running a business, it’s important to understand accounting concepts well. One key concept is the purpose of control accounts. These special accounts are used to track and report the financial status of specific areas or divisions within a company. But how does this apply to your business? Edgewater CPA Group discusses this and why you need control accounts to manage business finances effectively.