Any business owner knows that it is important to think about the future of your business. As you age, you also begin to think about what will happen to your business once you retire, which brings you to a process known as succession planning. What is Succession Planning? Succession planning is the process of determining […]
Is it Time for Succession Planning? Read More »
We always make sure our house, car, and other valuables are locked up when we go away, but what about securing our personal information? Data found in 2017 studies shows that 22.6% of the 2.68 million reported cases of identity theft were related to employment or taxes. While it may not be possible to be
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Even a supposedly simple individual tax return can have its challenges, and with tax laws continually changing, it can be all too easy to make costly mistakes or to overlook deductions and credits you may be entitled to. If you want to make sure your taxes are filed correctly without taking on the burden of
Do I need a tax professional to handle my taxes? Read More »
Welcoming a new child to your family is an exciting time! Whether you are adopting or not, whether this is your first child or one of several, it is a big step that requires preparation in many ways, including financial planning. With this in mind, we want to share some tax tips to help parents
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If you keep track of your mileage for travel related to business, medical, or charitable purposes, you should be aware that the IRS has recently released new mileage rates for the upcoming year. These rates are determined through a study that includes the fixed and variable costs of operating a vehicle, and will take effect
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Business owners need to keep track of a lot of information, and staying up-to-date with financial records is an important part of that. Accurate financial records will help you understand the health of your business, and will also make it easy to ask the bank for a loan if you’re thinking about expanding. Make sure
Why Are Accurate Financial Records Important for Businesses? Read More »
Once you have your business set up and you’re ready to hire employees, you need to think about payroll – the way you will compensate these employees for the work they provide for your business. It’s important that you set up a system from the beginning, as it will help you stay on top of
Setting Up Payroll Read More »
This is a common thought that many business owners have. Bookkeeping is an area that some business owners put off until it becomes something that can no longer be ignored. For many, it’s neglected until that last day of tax season and then the bookkeeping must be done so that taxes can be filed! It’s
Should I Hire a Professional Bookkeeper? Read More »
More Year Round Tax Tips! Welcome back! In our last post, we started the lengthy checklist for year round tax preparation for your Lancaster, PA business and individual returns. It’s important to keep documents and records organized, year round. It will eliminate stress for you when tax season rolls around. It will also help your
Year Round Tax Preparation Checklist, Continued Read More »
Tax preparation lasts all year long! Tax season is a stressful part of each year. Individuals and business owners must make sure that all documents and records are ready to turn in so that tax filing can proceed appropriately. Tax preparation, for your business or individual return, is an important part of filing taxes and
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