Big Life Events and Your Taxes

Big Life Events and Your Taxes

  “Life… uh… finds a way.” ~ Dr. Ian Malcom, Jurassic Park You might say that life finds a way, or life gets in the way, or that “Life is what happens to you while you're busy making other plans” (John Lennon). As accountants, we make it a habit to not get into stuff that’s not our business. On the other hand, your marital status, home ownership status, parental status, and the State you reside in can significantly affect your tax and business situation. Without further ado, let’s get into some life situations and how it might affect your personal…
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Basic Financial Terms Every Business Owner Should Know

Basic Financial Terms Every Business Owner Should Know

“You keep using that word. I do not think it means what you think it means.” ~ Inigo Montoya, The Princess Bride It’s entirely conceivable that you’ll encounter some utterly mystifying financial jargon when you talk to your bank representative, financial advisor, or accountant. We’re not trying to confuse you on purpose; we use industry-specific words often because they represent specific concepts. Imagine how awkward a conversation would be if we said things like, “Well, your assets that we expect will be turned into cash within a year are high enough that we expect that it won’t be too difficult…
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How Do Accountants Help Small Businesses?

How Do Accountants Help Small Businesses?

If you’ve never had your own accountant, you might wonder if it’s even necessary. Maybe you feel like you’ve got everything handled and you don’t really need the help. Or maybe you have decision fatigue from all the little decisions you have to make as an owner, and the decision of whether to hire an accountant is currently 73rd on your to-decide list. To be sure, there’s no legal requirement for small businesses to have an accountant. But accountants can do great things to make your life easier. Maybe you don’t need an accountant, but perhaps by the end of…
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