Tax Smart Advisors Blog

Accounting and tax tips, updates and the latest news for small business owners and individuals.

Should You Incorporate Your Small Business?

As a sole proprietor, you may have wondered if it would be better for you to incorporate your business. Here are some things to consider... Incorporating a business limits the owner's liability. However, many small corporation stockholders are required to personally...

What You Need to Consider When Buying a Business

Thinking about buying an existing business? Make sure to take the time to investigate the business thoroughly before jumping in. Investigate possible issues. It can be tempting to get into the business first and then worry about any problems once they've developed....

Common Tax Increase Surprises

You've received a nice (but small) tax refund for the last few years. Imagine your surprise when you actually owe money this year... How could this be? Here are some situations that may increase your tax liability: New tax laws. The assistance you may have received...

Prepare Your Business for Unexpected Bills

As a small business owner, getting a bill for an unexpected expense can have a significant effect on your business's cash flow. Here are some tips you can use to deal with a surprise bill... Establish a consistent reconciliation schedule. Knowing how much cash your...

Give Your Business a Check-Up

It's a good idea to review your financial statements on a regular basis so you have an ongoing understanding of your business's health. As we begin the fourth quarter, now is a great time to check in prior to year end. Here are four items you should review to get a...

Protect Your Business Against Employee Theft

No matter the size of your company, every business owner should be alert to the problem of employee theft. Before you decide to hand your record keeping over to a qualified employee, make sure you have the proper controls in place. How to Spot Employee Theft Employee...