6 Myths and Misconceptions about Accounting and Accountants, Part II

In our last blog we detailed three common myths about accounting and accountants: that it is easy to handle accounting on your own thanks to technology, that hiring an accountant is a quick-fix for financial problems, and that accountants are only good for doing math. Click here to check out Part I of this blog and learn more about these harmful misconceptions. Far too many business owners are missing out on Read More

6 Myths and Misconceptions about Accounting and Accountants, Part I

One of the biggest reasons that small business owners neglect their bookkeeping and fail to utilize the services of professional accountants is simply due to a lack of understanding of the industry and benefits. There are numerous misconceptions that follow the genre of accounting as well as those who practice it. Simply put, if your company fails to employ effective accounting practices and is unwilling to trust Read More

Lydia Desnoyers Named a Panelist for Affluent Investors by Charles Schwab

On September 24th, Charles Schwab put a panel of experts, including Lydia, together to educate investors on fixed income and equity investments, estate planning, and tax strategies to protect their assets. If you would like more information on the topics that were discussed or the speakers, please contact us. Check out some pictures from the event below! Read More

5 Common QuickBooks Mistakes to Avoid

QuickBooks is an undeniably useful tool for small businesses that allows them to maintain accurate books and keep their finances in order. However, this software is deceptively easy to the point where users feel confident in their bookkeeping abilities when they are in fact making significant errors that can have serious consequences. QuickBooks mistakes can cause you a lot of headaches and, under some Read More

Understanding How Self-Employment Taxes Are Calculated

Entrepreneurs are the lifeblood of our economy, but one of the biggest hurdles involved in successful self-employment is figuring out how to properly manage your taxes. If your net profits from self-employment—whether as a sole-proprietor, independent contractor, or member of a partnership—total $400 or more in a given year, you will be required to pay self-employment taxes. Taxes tend to be stressful for Read More

What Should You Do if You Suspect an Employee is Stealing From Your Company?

It’s a dreaded scenario that, unfortunately, happens all the time. An employee thinks they can get away with stealing from you, and takes what is not theirs. Whether it’s office supplies, intellectual property, or cash that has been stolen, it is important you move quickly as soon as there is any indication that you have an employee who has committed theft. Here are some steps you need to take in order to take Read More

6 Reasons Your Small Business Needs Accounting Services

Far too many small businesses try to do everything on their own. Whether this determination is a result of trying to save a buck or actually assuming they can handle it all, it often results in negative consequences for the business. Professional accounting services provide a wealth of benefits for small businesses that can enable them to achieve their goals and avoid financial pitfalls. In this blog we will Read More

5 Tips For Minimizing Your Capital Gains Tax

As we’ve previously discussed, the capital gains tax is a tax on the profits a person makes when they sell an asset. So if you bought stock that grew in value, you pay a capital gains tax on the difference when you sell the stock. If you bought a piece of land at a certain price and later sold it at a higher price, the money you made from that sale is taxed. The capital gains tax is one of the most infamous taxes Read More

Understanding Forensic Accounting

If you’ve enjoyed an episode of CSI or Bones lately, then you’ve probably heard the term “forensics” before. The word “forensic” has a couple of different definitions. It can mean utilizing the scientific method to help solve crimes as well as anything that is suitable to be used in a court of law. The methods and techniques put forth in forensic science can be applied to numerous situations, including accounting. Read More

Can’t Pay Your Tax Bill? Here’s What to Do

What should you do if you can’t pay the IRS? First, don’t let this stop you from filing your return, as there are penalties for failure to do so. As for the payment dilemma, you do have options if you can’t come up with the entire amount by the due date. Put the bill on your credit card While it’s rarely a good idea to cancel one debt by incurring another, using a credit card is a viable option if your Read More