Tax Smart Advisors Blog
Accounting and tax tips, updates and the latest news for small business owners and individuals.
The Small Business Growth Hack Hiding in Your Books
Let’s face it, bookkeeping isn’t exactly the most exciting part of running a business. For many small business owners, it’s likely to land squarely in the “I’ll deal with it later” pile, right next to sorting receipts and clearing out a cluttered inbox. But here’s the thing, accurate bookkeeping isn’t just about staying on top of paperwork or surviving tax season. It’s a key driver of business growth.
Tax Season’s Over—So Why Think About It Now?
You may have closed the books on the 2024 tax season, but that doesn’t mean you should stop thinking about your taxes. Isn’t tax planning just doing your taxes early? The best time to start planning for next year is right now. Everything is still fresh in your mind, and there’s plenty of time to make smart, meaningful changes that can benefit you next year.
Why Every Small Business Needs an Emergency Fund (and How to Build One)
Running your own business comes with plenty of rewards, including independence, financial potential, and the satisfaction of building something from the ground up. But it also brings its fair share of unexpected challenges. When faced with surprise expenses or economic downturns, having a financial cushion can be the key to weathering the storm rather than struggling to stay afloat.
DIY Taxes vs. Hiring a Pro: What’s the Best Choice for You?
Every tax season, you face the same dilemma – should you file your taxes yourself or hire a professional? With so many DIY tax software options available at your fingertips, filing on your own might seem like the simplest and most cost-effective choice. However, depending on your financial situation, working with a tax professional could end up saving you time, stress, and even money.
2025 Tax Filing Deadlines Every Small Business Owner Should Mark on Their Calendar
Now that the new year is here and you’re back in full swing, it’s easy to get caught up in growing your business and let important tax deadlines slip through the cracks. But, staying on top of these dates can save you time, stress, and hassle!
Unwrap Savings This Holiday Season with Tax Credits You Might Be Missing
During this time of year, it’s easy to get distracted thinking about the various holiday festivities, year-end celebrations, and those resolutions you’re making for the new year. Before the holiday whirlwind takes over, it’s worth taking a moment to focus on your taxes.
Master Cash Flow Management for Your Small Business During The End-of-Year Rush
Keeping cash flow steady is crucial for all businesses, but for small businesses, it can be the deciding factor between growth and struggle. As a small business owner, you know that cash flow is the stream of funds that helps you pay bills, manage any loans you’ve taken out, and lay the foundation for growth. However, cash flow can quickly become a challenge during the end-of-year rush.
Maximizing Deductions: Smart Moves Small Business Owners Can Make Before Year-End
As the year draws to a close, small business owners often face the challenge of juggling day-to-day operations while planning for the financial health of their business. As you know, every dollar counts whether it’s managing your cash flow or covering expenses – that’s why maximizing tax deductions is so important.
Beware the Ghosts of Tax Seasons Past: Common Tax Mistakes That Could Haunt You
It’s not just ghouls and goblins that can frighten you during the spooky season - your past tax mistakes can also come back to haunt you. Unfortunately, if not properly addressed, tax errors can linger for years causing you unwanted headaches and stress worrying about...
Get Ahead of the Game: Essential Fall Financial Tasks for Small Business Tax Prep
Summer’s winding down and fall’s just around the corner, making the seasonal change the perfect opportunity to start preparing your small business for tax season. Sure, the leaves haven't started to change yet but that doesn’t mean you can’t get a head start on...