A checklist for bookkeeping. What does that look like? First of all, we recommend that you update your books no more than once a week. More than once a week is just a lot of unnecessary effort. We follow the Profit First system, so a lot of our clients and a lot of our recommendations also will fall into biweekly, every two weeks. …
Bookkeeping Red Flags | John Briggs – Incite Tax What are some bookkeeping red flags to watch out for? The first red flag is you want to run a profit and loss statement by month. When you’re looking at the statement, it’ll show January, February, March, April, however many months you’re looking at in separate columns. You wanna notice trends, mainly inconsistent trends. If…
Tax Tips to Clean Up Your Books The first thing you want to do is make sure that you actually have all of your transactions in your accounts. Accounting software has a reconciliation function. Reconciliation is an accounting word that basically means you go in and look at your books. You can see the transactions inside of your book software and compare those transactions…
What matters most to the success of your business, employees or profit? To think through this issue, we’ll look at return on team cost metrics and discuss a concept from a new book I’m writing. 80% Capacity So, I am writing a book. The current working title is The 80% Capacity Method. The book is for business owners who are burnt out, or they…
The dreaded tax season is over. Tax Day has come and gone and the deadline to file and pay is now passed. But what the heck happens now if you missed the tax deadline? We’re talking specifically about federal income tax penalties here. You’ll need to look up your own state penalties as each state will be different. Minor Tangent We’re not getting into…
The other day I heard someone say, “I know I can’t do it alone, but I fear I’ll be giving up control of my finances when I hire an accountant. What do I do?” We Fear the Unknown That’s why kids are afraid of the dark. They can’t see who might be lurking in the corner or hiding under their bed. You don’t know…
Incite Tax & Accounting is a Certified Public Accountant (CPA) firm with offices in Draper, Utah. With over 10 years of experience handling business taxes for large and small Utah companies, Incite Tax is one of the most qualified business CPA firms in all of Utah. No matter your tax needs, Incite Tax is the firm for the job.
Incite Tax believes in sticking it to the IRS. If you’re looking to better your financial situation contact us!
© 2022 Incite Tax. All Rights Reserved.
Professional Website Designed by WP Slopes
