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…
Forecasting financials for the next year can be a daunting task. Sometimes it feels like a guessing game or worse, pointless. But after following these steps of the best way to forecast revenue and expenses, you’ll have a roadmap to guide you to success the way you want it. We have a free forecast template spreadsheet for you to use. The template is from my…
Let’s talk about small business health insurance options. Especially for you as the business owner, and then I’ll end with a brief mention of how to pay for health insurance and deduct it from your taxes. I’m only covering a small snippet of small business health insurance options here. You really do need to talk to a health insurance agent about the specific options that…
What’s the best way to catch up on bookkeeping if I haven’t really touched my books all year? I love this question I was recently asked. Not to be Debbie Raincloud here, but the first step is to stop being lazy. Look, you didn’t start your business to do accounting. So, this idea of accounting and bookkeeping is not your favorite thing. I totally…
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
