Barry Chapman

  • 5 Ways The Tax Treatment Of Rental Income Maximizes Profit

    More and more Americans are realizing the benefits of creating a secondary source of income through rental properties. But what about income tax on what you take in? Can the tax treatment of your rentals make this option even more profitable? Yes, and here are a few ways that this happens.  1. Not All Income Is Income. While most forms of income a landlord receives are taxable, this doesn't apply to everything. [Read More]

  • 3 Tax Problems To Avoid As A Small Business Owner

    It's no secret that taxes can be complicated for small business owners. Many entrepreneurs struggle to understand the myriad of rules, regulations, and forms associated with filing their taxes. While it is important to have a basic understanding of tax law and the most common pitfalls, specialized services are also available to ensure that you do not fall into any of these common traps. Take a look at three of the most common tax problems small business owners face. [Read More]

  • 4 Key Payroll Services Every Start-Up Should Invest In

    Payroll services are an integral part of any business. Companies need them to process payments and employee benefits and ensure smooth operations. Unfortunately, start-ups have limited resources which makes it difficult for them to invest in payroll services.  However, they need these services to increase their growth and improve their bottom line. Here are four payroll services every start-up should consider investing in: Tax Compliance Services Every business owner needs to keep up with the ever-changing payroll tax laws. [Read More]

  • What Bookkeeping Mistakes Are You Making In Your New Startup?

    A startup's success depends on several factors, but one of the most important is sound financial management. This means keeping accurate income and expense records and ensuring that taxes are paid on time. Unfortunately, many startups make common mistakes in bookkeeping, which can have serious consequences down the road. This blog post discusses five of the most common mistakes made by startups and offers tips on avoiding them. 1. Failure To Keep Accurate Records  [Read More]

  • 5 Benefits Of Partnering With Commercial Tax Services

    When it comes to tax season, business owners have a lot to worry about. Not only do they need to make sure they're filing their taxes correctly, but they also need to make sure they're taking all of the deductions and credits they're eligible for. This can be a daunting task, especially for business owners who don't have a lot of experience with taxes. Fortunately, there are commercial tax preparation services available to help business owners with their tax needs. [Read More]

  • 5 Reasons Why All Companies Require Professional Business Tax Preparation

    No company can survive without preparing and filing their business taxes correctly. While there are some small businesses that may be able to do their own taxes, most companies require the help of a professional tax preparer in order to ensure that everything is done correctly. Here are five reasons why all companies should consider professional business tax preparation: 1. Complying with IRS regulations The Internal Revenue Service has very specific regulations that all businesses must follow when it comes to filing their taxes. [Read More]

  • Why A Tax Strategy Consultation Is Good For Your Business

    Tax season can be one of the most dreaded parts of the year for a business owner, as there is a risk of getting audited by the Internal Revenue Service (IRS). For example, if a business owner did not make sufficient quarterly tax payments, the IRS might perform an audit to find out what is going on. The best method for staying on top of business taxes is to hire an accountant to assist with recordkeeping. [Read More]

  • 4 Ways To Consider Outsourcing Bookkeeping Services

    As a small business owner, you probably dedicate a significant amount of your time to growing your brand. A common challenge that might pop up when running your business is managing finances and updating books of accounts. Initially, you may have found it logical to do it yourself, but it might become more hectic as your books grow. Have you thought about outsourcing bookkeeping services? The following are signs you are better off outsourcing bookkeeping services. [Read More]

  • Reasons for Hiring a Business Accountant

    Whether you are a business owner or in a partnership, you need an accountant to keep track of your finances. Tried and tested business accounting agencies can guide your business towards financial stability and keep you within the confines of the law. Many people, especially those running small or new businesses, avoid delegating their companies' financial functions. While it is possible to run your business alone, it is advisable to involve professionals such as accountants from the get-go. [Read More]

  • Reasons To Hire Outside Help To Assist With The Payroll For Your Growing Company

    As a small business owner, perhaps you haven't had a ton of employees in the past and you've been able to handle your own payroll just fine. But if your company is growing or expanding, you may begin considering hiring some outside help. Here's how bringing on an outside payroll services company may benefit your business and allow you to stay focused on your continued growth. Payroll Can Be Much More Complex Than Simply Calculating Hours Worked [Read More]