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Accounting Bookkeeping

5 Essential Business Tasks to Outsource for Maximum Growth and Efficiency

5 Essential Business Tasks to Outsource for Maximum Growth and Efficiency

Accounting, Bookkeeping

When you’re just getting started with your business, it can feel like there are a million things you need to do. In fact, that’s probably accurate! There are a million little details and tasks involved in starting and maintaining any business. However, not all of them are essential to the success of your company. You don’t need to do everything yourself to make your business a success; in fact, there are lots of things you can outsource so you have more time and energy to focus on what matters most. Outsourcing is an excellent way for small businesses to keep costs low while focusing on their core competencies. Here are 5 things you should outsource when building your business:

Lead generation

If you’re focusing on lead generation, your goal is to create and nurture leads so that you can turn them into paying customers. That’s a massive amount of work, and it’s not something that you should try and do in addition to everything else you’re doing. If you’re running your own lead generation campaigns, you’re taking away time and energy that could be spent on other tasks. Instead, hire a company to take over lead generation so that you can focus on sales and converting those leads into customers. There are lots of ways to generate leads, but businesses often struggle with finding ways to effectively nurture those leads. Hire a company to handle your lead generation so that you can focus on other parts of your business.

Virtual assistants

If you’re starting a business full-time, you’re likely working 60 to 80 hours a week. That’s a lot of time invested in your business. There is, however, no rule that says that you must do everything yourself. No one can do everything, and the only way to be effective is if you outsource the parts of your job that you don’t enjoy. If you hate marketing, take on the task of bookkeeping instead. If you hate sales, focus on product development instead. You get the idea: hire a virtual assistant to help you with the tasks that you don’t enjoy or aren’t good at. Not only will you get more done, but you’ll also have more energy to focus on what matters most.


Marketing is essential to any business. However, not all marketing tactics are created equal. You might have a strong idea of which marketing channels will work best for your business, but that doesn’t mean that you’re good at executing those plans. A big mistake that many small businesses make is trying to do everything themselves when hiring a marketing agency would be a much more effective use of resources. If you’re not good at marketing, don’t waste your time trying to do it yourself. Instead, hire an agency to take care of your marketing so that you can focus on other tasks.


Bookkeeping is an essential aspect of most businesses, but it is not something that everyone enjoys doing. If you’re starting a small business, you may also have limited financial resources. You don’t have to hire an expensive accountant to do your books; in fact, you can hire professional bookkeepers to save you time and money. Outsourcing your bookkeeping will ensure that your financial records are accurate and up-to-date while freeing you up to focus on other tasks.


Building a business is a daunting task, and you’re probably feeling overwhelmed at this point. One of the best ways to feel less overwhelmed is to outsource technology tasks so that you can focus on the things that matter most. For instance, if you don’t have the time or expertise to create a website for your business, hire a website developer to build a site for you. Similarly, if you want to use marketing tools like email marketing or a CRM, but don’t want to spend the time learning how to use those tools, outsource those tasks instead.


Starting and growing a business is a lot of work, but it doesn’t have to be overwhelming. Not all of your tasks are essential to the success of your business, so it makes sense to outsource the things that you don’t need to do yourself. Outsourcing can help you to save time, money, and energy while ensuring that your business is successful.

Ready to take your business to the next level? Don’t waste any more time on non-essential tasks. Check out our pricing page now to see how Peak Reliance can help you with outsourcing. Want to learn more before making a decision? Give us a call at +1 (718) 218-5558 or send us an email at Let’s work together to maximize your growth and efficiency!

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Small Business, Small Business Owners

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Empowering small businesses and individuals with efficient and reliable bookkeeping & tax services.

Accounting Bookkeeping Taxes

Small Business Financing: A Comprehensive Guide to Understanding Your Options

Small Business Financing: A Comprehensive Guide to Understanding Your Options

Accounting, Bookkeeping, Taxes

Starting a small business is an exciting and potentially lucrative endeavor, but it requires significant financial resources. Securing the necessary funding to cover start-up costs, working capital and other expenses can be difficult and overwhelming. That’s why it’s important to understand the various small business financing options available. With this comprehensive guide, you’ll get a better understanding of the different financing methods available, so you can make the best decisions for your business. From traditional loans to venture capital and crowdfunding, you’ll get details on the advantages and disadvantages of each type of small business financing, so you can make an informed decision. With this guide, you’ll be better equipped to secure the right type of financing to help your business grow and succeed.

Types of Small Business Financing

There are several types of small business financing available to entrepreneurs, including traditional sources of financing, venture capital, crowdfunding, business credit cards and grants. Traditional sources of financing include bank loans and SBA loans, while venture capital includes angel investors and equity crowdfunding. Business credit cards let you make purchases now and pay them off over time, and grants are free money available to businesses in certain industries.

a. Traditional Sources of Financing

Traditional sources of small business financing include obtaining loans from banks and other lending institutions and taking out equity investments from individuals and companies.

Bank Loans – Bank loans are a common source of financing for small businesses. There are several types of bank loans, including secured and unsecured loans, lines of credit and term loans. Bank loans have fixed interest rates and repayment schedules, so they’re usually most appropriate for cash flow-intensive industries. One potential downside to bank loans is you may be required to put up collateral, like your house or other assets, to secure the loan. To qualify for a bank loan, you’ll typically need to demonstrate you have enough cash flow to repay the loan.

SBA Loans – The Small Business Administration (SBA) offers a wide variety of financing products, including the 7(a) Loan Program, which is available to qualified businesses seeking financing for machinery, equipment, inventory and real estate. The SBA’s Microloan Program provides loans under $50,000 to help very small businesses get started or expand. The SBA also offers the Certified Development Company program that provides loans to finance businesses in rural areas and low-income communities.

Equity Investments – You can also approach individuals and businesses for equity investments. Equity investors provide cash for your business in exchange for partial ownership, and they typically expect to profit from the business through the sale of shares or through dividend payments. Equity investments are appropriate for businesses that don’t require a lot of working capital and are already profitable.

Other Traditional Sources of Financing – In addition to bank loans and equity investments, there are several other traditional sources of financing available to small businesses, including credit card debt and factoring. Credit card debt requires you to pay a significant amount of interest, but it’s easy to obtain and can help you bridge the gap between payments. Factoring involves borrowing money against the amount your customers owe you.

b. Venture Capital

Venture capital is financing provided by an investor in exchange for a share of your company, equity. These investors are typically very wealthy individuals or companies that want to make a significant financial investment in a small business that has potential for significant growth. You may choose to take out venture capital if you don’t want to give up partial ownership of your company. However, venture capitalists typically have significant experience and connections to help your business succeed. You may wish to pursue venture capital if you don’t want to take out a loan, but you have a proven track record and the necessary collateral.

Angel Investors – Angel investors are individuals who provide money for start-up companies in exchange for partial ownership of the business. You may find angel investors at trade shows or conferences, on online investment networks or through referrals. Angel investors typically want a significant share of the company and may also want to sit on your board of directors. Angel investors are a good source of venture capital, but they may not be your best option if you’re looking for a lot of funding.

Equity Crowdfunding – Equity crowdfunding refers to raising money from a large number of investors who each contribute a small amount. These investors typically use crowdfunding platforms to invest in start-up businesses. Equity crowdfunding is often used to raise a relatively small amount of money. For example, a business might use it to fund a marketing campaign. Equity crowdfunding is appropriate for businesses that don’t require a large amount of funding, such as real estate investment trusts (REITs).

c. Crowdfunding

Crowdfunding is the process of raising money from a large number of people in exchange for rewards, such as goods or services. Crowdfunding platforms host these types of financing campaigns and typically charge a fee for helping companies facilitate these types of financing efforts. Crowdfunding is appropriate for businesses that need relatively small amounts of financing for items like advertising campaigns or product development, or for nonprofits that need funding for specific causes.

Advantages and Disadvantages of Each Type of Financing
  • Advantages of Bank Loans – Bank loans are often a suitable choice for small businesses, as they’re relatively easy to obtain and have predictable repayment terms. Bank loans are appropriate for businesses that need a moderate amount of financing. Bank loans may not be the best choice if you don’t have adequate collateral or a proven record of profitability.
  • Advantages of SBA Loans – SBA loans are particularly beneficial if you have a relatively new business that doesn’t have the necessary collateral. The SBA also provides many types of loans to accommodate businesses in different industries. SBA loans have competitive interest rates and may be flexible when it comes to repayment terms.
  • Advantages of Equity Investments – Equity investments are appropriate for businesses that are already profitable or have potential for significant growth. An equity investment can give you the financing you need without having to take on additional debt.
  • Advantages of Factoring – Factoring is a financing method that’s appropriate for businesses that have a steady flow of income. Factoring is often used to finance accounts receivable, which is money owed to your business by your customers.
  • Advantages of Crowdfunding – Crowdfunding is appropriate for businesses that need relatively small amounts of financing, such as startups or nonprofit organizations.
  • Advantages of Venture Capital – Venture capital is appropriate for businesses with significant growth potential. It may be difficult to obtain venture capital unless you have a proven track record and are willing to give up partial ownership of your company.
Tips for Applying for Financing
  • Bank Loans – When applying for a bank loan, you should have a clear financial plan, including a repayment schedule. You should also have collateral, such as real estate or stocks, to secure the loan. You may also need to provide a personal guarantee, which is a promise that you will repay the loan if your business fails.
  • SBA Loans – When applying for an SBA loan, make sure you meet the criteria and provide a thorough business plan. It’s also important to thoroughly document your financial history to show the SBA that you’re a reliable borrower.
  • Equity Investments – When applying for equity investments, make sure you have a clear business plan and a thorough understanding of your financial situation. In addition, you should already be generating significant revenue or you should have a clear vision for what you need the investment for.
  • Crowdfunding – When applying for crowdfunding, make sure you have a well-written plan and video. You should also carefully research potential crowdfunding platforms, as some are more reputable than others.
  • Venture Capital – When applying for venture capital, make sure you have a thorough business plan and a detailed pitch deck. You should also attend networking events and conferences to make connections and gain exposure.

Starting a business is an exciting endeavor and can be financially rewarding, but it can also be challenging. Before starting a business, it’s important to understand the different types of financing available, so you can make an informed decision about the type of financing you need. From traditional sources of financing, such as bank loans and SBA loans, to venture capital and crowdfunding, there are several financing options to choose from.

Need help finding the right financing option for your small business? Contact our team at +1 (718) 218-5558 or for expert guidance and personalized recommendations. Don’t let the process of finding funding hold you back – let us help you take the next steps towards success.

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Financing, Small Business, Small Business Owners

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Accounting Bookkeeping Taxes

6 Essential Small Business Accounting Tips for Maintaining Balanced Books

6 Essential Small Business Accounting Tips for Maintaining Balanced Books

Accounting, Bookkeeping, Taxes

As a small business owner, it’s important to prioritize accounting in order to ensure the success of your business. Maintaining balanced books allows you to better understand your past financial performance, including where you made and lost money, which can help you make more accurate financial forecasts. Here are some key accounting tips to keep your small business on track:

  1. Stay on top of your receivables

    Managing your receivables is crucial for the success of your business. Instead of letting them accumulate, it’s important to track them as they come in. This will prevent you from being overwhelmed at tax time with many customer deposits to reconcile or, even worse, no payment at all. Being proactive in managing your receivables can save you time, money, and hassle in the long run. It’s important to remember that revenue doesn’t always equal cash.

  2. Make cash flow statements

    A cash flow statement can give you a clear picture of the cash moving in and out of your business. By creating cash flow statements on a regular basis, such as weekly or monthly, you can better anticipate expenses and allocate income effectively. Regular cash flow statements can also help you plan for the future financial trajectory of your business.

  3. Keep track of expenses

    It’s important to record every business purchase you make. One way to do this without adding extra work is to use one credit card for all business expenses. Another option is to take pictures of receipts and store them in a designated location. By keeping track of your expenses, you can avoid surprises or uncertainties about charges on your bank statement and prevent various cash flow, accounting, and tax issues.

  4. Keep personal and business accounts separate

    Many small business owners use the same bank account and credit card for both personal and business expenses. However, this can make it difficult to track important business transactions. To make it easier to manage your finances, it’s recommended to have separate bank accounts and credit cards for your personal and business expenses. This can help you, your bookkeeper, and your accountant clearly see how you’re spending your money.

  5. Hire a tax professional

    Nobody enjoys tax season, but it’s important to pay taxes properly. While doing your own tax preparation may seem like a good idea, it can end up costing you a lot of money in the long run if you make mistakes. Unless you are a tax expert, you may miss out on deductions or pay more or less in taxes than what you actually owe. Tax laws are constantly changing, so it’s important to stay up-to-date to avoid income tax penalties. Consider hiring a tax professional to help you navigate the process and ensure that you are paying the correct amount of taxes.

  6. Stay in regular communication with your accountant and bookkeeper

    Even if you are busy, it’s important to maintain regular communication with your accounting team. Treat them as trusted business advisors who can provide valuable guidance and answers to any questions you may have about taxes, cash flow, budgeting, and more. Do not hesitate to ask for clarification if you receive an email or document with a term you do not understand. Power comes from knowledge!

At Peak Reliance, we specialize in helping small businesses like yours succeed. Our business accounting services are tailored to meet your specific needs and can include historical cleanup, bill pay, actuals-to-budget reporting, grant account management, 1099 processing and filing, and more. For more information on how we can help with your small business accounting needs, please visit our pricing page or give us a call at +1 (718) 218-5558. You can also send us an email at with any questions or inquiries you may have. We look forward to assisting you!

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Accounting, Bookkeeping, Small Business

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Empowering small businesses and individuals with efficient and reliable bookkeeping & tax services.

Accounting Bookkeeping CPA

5 Ways an Accountant Can Help Your Small Business

5 Ways an Accountant Can Help Your Small Business

Accounting, Bookkeeping, CPA

Having your own business is a great way to follow your passions and see a return on all that work you put in. But when it comes to numbers, many small business owners feel like they’re stuck in second gear.A certified public accountant (CPA) can help you get back on track with all things accounting related. An accountant can assist with financial reporting, tax preparation, and audit services. They aren’t just useful for big businesses. Small businesses also stand to benefit from hiring an accountant. Here are six ways an accountant can help your small business grow and thrive.

  1. Stay on top of your financial responsibilities.

    Accountants are highly trained professionals who can help you stay on top of your financial reporting and payment obligations. Whether it’s sales tax, payroll taxes, or filing your quarterly financial reports, your accountant can assist with all of these. Every state has its own set of rules for businesses to follow, and even a simple oversight could lead to fines and penalties. Having someone on your team to help keep you current and compliant can save you a big headache in the long run.
  2. Help you understand your company’s financial position.

    An accountant can help you understand your company’s financial position. This includes everything from your current assets and liabilities to your ongoing cash flow. The better you understand your current financial position, the better you can plan for the future. Hiring an accountant can help you identify the best path forward. From cash flow forecasts to long-term debt obligations, your accountant can help you understand all aspects of your financial position. This can also help you see where you may need to make some changes to improve your financial standing.

  3. Help you spot red flags in your company’s financial reporting.

    As you work with your accountant to create your financial statements, you can work together to identify any potential red flags in your financial reporting. This can include missing information or errors in your company’s financial reports. This can help you spot issues early and correct them before they turn into major problems. A quick audit of your financial reports from your accountant can help you catch issues before they cause major problems for your business.

  4. Assist with tax planning and preparation.

    Your accountant can also assist you with tax planning and preparation. This includes assisting you with choosing the best accounting method for your company and identifying any write-offs that you qualify for. But it also includes helping you plan for taxes in the future. Your accountant can help you forecast your company’s taxes and identify tax savings and breaks that you qualify for. Tax planning is a year-round process that can help you reduce your tax liabilities and improve your cash flow.

  5. Provide auditing services to make sure everything is in order.

    Depending on your company’s size and needs, your accountant may also be able to provide auditing services. An audit is a thorough review of your company’s financial statements to make sure everything is in order. This can include a review of your bookkeeping records, financial statements, and financial controls. An audit can help you identify issues early and correct them before they become major problems. This can also help you correct issues that were not caught during your financial reporting process. An audit may be required for certain government contracts, industry types, or for your company’s growth. Your accountant can help you determine if you need an audit and can assist with the process.

While it may not seem like an accountant can do much for a small business, the reality is that these professionals can actually help you save money and prevent problems from arising in the first place. If you’re not sure if hiring an accountant is right for you, ask yourself these questions first. Do you feel like you’re always behind on your financial obligations? Do you have no idea how to forecast your company’s financial position? If you answered yes to either of these questions, then it might be time to hire an accountant.

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Accounting, cpa, Online CPA, Small Business

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Empowering small businesses and individuals with efficient and reliable bookkeeping & tax services.

Accounting CPA

How Could CPA Professionals Help Small Businesses Save Taxes?

How Could CPA Professionals Help Small Businesses Save Taxes?

Accounting, CPA

Certified public accountants or CPAs are seasoned professional accountants who can not only help you out with your accounting needs but also have the ability and knowledge to give you practical business advise. CPAs are tax experts. They cannot only take a good legal care of your finances but will also make sure that your money is saved wherever necessary. 

CPAs pass the Uniform CPA exam that tests their knowledge and understanding of tax laws and standard accounting practices and this is what sets them apart from generic accountants and makes them a better choice for many businesses.  

Small business and start-up owners are always under a constant financial pressure as their business is in the growth phase and hence, hiring a CPA for financial matter, tax filing, legal matters, business advise and managing accounts can be an ideal choice for them in numerous ways including but not limited to:  

  • Addressing legal requirements and communications: legal/compliance documents, annual audits. 
  • Preparing annual financial statements, statements of accounts, and other financial reports. 
  • Breakdown and analysis of company financial conditions. 
  • Evaluating financial decisions concerning company progress. 
  • Handling more complex tax matters like filing tax returns. 

Out of the above-mentioned ways, one of the most integral roles that a CPA can fulfil is helping out a corporation or start-up with their legal tax matters. 

Filing taxes can be a hassle for a lay person and this is an area which demands focus and attention because a small error in numbers could cost you and your company a great deal. Considering the complexity of the matter, it is worth hiring a professional to do these time and attention consuming tasks for you – someone who is cost effective and can not only save you time but money as well.  

Here are some ways in which bringing a CPA on board can help you save up on money through taxes. 

They Help You Minimize Financial Fines and Penalties

It is extremely important that your taxes are filed correctly and error free and you need to do this in a timely manner as well. With legislations and tax laws changing too frequently, this isn’t easy. You may be leaving yourself vulnerable to penalties and charges, simply because you overlooked a tiny error. 

By having a CPA at your disposal, you can always be assured that you’re filing the taxes on time and that your taxes are correct.  


They Can Help You Minimize Your Taxable Income

To put it in simple words, taxable income is the total income earned out of which a company is liable to pay the set tax percentage to the state or governing body. For every business, it is a matter of great satisfaction if their earned money is being shown as net income instead of getting deducted in taxes. CPAs have the technical skills to help make sure that no undue income is being taxed and you’re not paying unjustified sums of money in the name of taxes to the state. 

They Are Aware of the Tax Breaks Available for Start-Ups

Tax laws are complex and for a person who doesn’t have an in-depth knowledge of tax laws is not always fully able to understand the technicalities in them. A CPA can come in handy in this situation and can save you from paying your hard-earned money to the state. They can always guide you about the legal tax breaks provided by the law.   

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Accounting, cpa, Online CPA, Small Business, tax

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Empowering small businesses and individuals with efficient and reliable bookkeeping & tax services.

Accounting CPA

5 Reasons Why Small Businesses Should Hire A CPA

5 Reasons Why Small Businesses Should Hire A CPA

Accounting, CPA

When you own a start-up or a small business, the financial matters never end. From keeping cash inflow records to audits, managing accounts is a whole process that requires focused attention. To name a few considerations, you have the accounts payable, accounts receivable, sales figures, annual statements, payroll, projections, cash flow and taxes.  

Usually, when a business is just starting out, the financial tasks fall squarely on the owner’s shoulders. As tempting as it can be to maintain that arrangement once the money starts to flow, not only to avoid paying someone else to do it but also to avoid allowing someone else to have access to the information, it can become a tiring and mundane task in the long run.   

Trying to deal with all aspects of the business can and does eventually become a huge burden on a single person alone causing details to get overlooked, especially as the financial structure of the business begins to grow. 

Accounting and financial management errors can cost the business a great deal and can get super expensive. For an expert, accountant, to do the same task it will take a significantly less time and the accuracy will be guaranteed. It may be tempting to save up the cost of hiring a qualified accountant but you’re paying yourself for all those hours you spend recording, sorting, calculating, inputting, researching the latest changes in tax laws, etc. 

Also, accounting isn’t just about taxes. It’s also record-keeping, analyzing, financial planning and forecasting, and complying with state regulations. You must have a strong accounting system set-up, in order to obtain all the possible benefits of good accounting practices and consistently keep updating it with all pertinent data. This data can later be effectively used to understand the financial state of your company as the business changes and cultivates. 

It is true that for some part of this, you don’t necessarily need an accountant however, in some areas, it can be worth your while to get an accountant on board because they have knowledge and areas of expertise you may not have. If your tax situation turns into an audit situation, for example, you’ll want an accountant on that — most likely a certified public accountant (CPA). CPAs are state-certified to have up-to-date knowledge of tax laws and processes. This is the kind of familiarity that can improve your tax representation overall. 

CPAs are tax experts who can take a good legal care of your business’s taxes, answer important financial questions and potentially save your business money. While CPAs have accounting degrees, their certification differs from traditional accountants in many ways. 

CPAs, unlike generic accountants have passed the demanding Uniform CPA Exam that tests their understanding of tax laws and standard accounting procedures. Through this exam they obtain a state license, which includes ethical necessities. They must take professional education courses to maintain their license, and may lose it if they are found guilty of fraud, negligence or ethics violations.  

Some of the tasks that might benefit from accountant input include:

CPAs are equipped with hands on skills to help small businesses and start-ups with a lot of technical financial matters.

1. CPAs Can Help with Filing Tax Returns

One of the most beneficial skills that a CPA can provide is tax preparation. The years following the pandemic have been specially complicated due to consequent tax rules stemming. CPAs are very knowledgeable of the most recent tax laws and therefore, can help small business owners gather what they need to prepare and file their tax returns correctly. Also, they are qualified to help with complicated matters like the IRS audit.

2. CPAs Can Help Assess Changes in The Market

Living in the aftermath of the pandemic, there are likely to be so many changes related to small businesses book-keeping that only a professional will be able to understand. As a small business owner, you also don’t want to miss out on opportunities that may benefit your business. CPAs have a very good eye for changes in the current business climate and can support you navigate these rough waters.

3. CPAs Can Help with Payroll Management as Well

As a small business owner, one has to wear many hats. One of these hats includes payroll management. However, if this role is too overwhelming for you to handle yourself, a CPA is fully equipped to assist you. They will ensure that your employees are paid in a timely fashion and ensure the taxes and withholdings are correctly deducted.

4. CPAs Can Assist You in Setting Up Your Business

With so many unusual circumstances currently taking place in this business environment, it may be best for new small business startups to hire a CPA for correct and timely decision making. Sure, the costs related with hiring a CPA for a small business may be steep for a new business owner. However, with things as hectic as they are after the significant downfall of many economies, this would be an expense well worth it. They can help you choose the proper business structure for your business, such as sole proprietorship, LLC, C-Corp, and S-Corp. CPAs can also help with budgeting and cash flow projections during these times of devastating inflation. They can advise you on what accounting systems are best for keeping your small business finances organized.

5. Get Best Tax Experts Advice

Planning and documenting controls for a small business will be entirely different than doing an individual assessment, particularly assuming that you have workforce or clients in different locations. A CPA can set up your business charge archives, document your returns, and even encourage you on adopting ways of lessening your duty of responsibility. A CPA will likewise know about any legal duty changes and can go about as a agent assuming you’re assessed.

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Accounting, cpa, Online CPA, Small Business, tax

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Accounting CPA

Why Should You Hire an Online CPA?

Why Should You Hire an Online CPA?

Accounting, CPA

With the massive amount of advancement in modern technology individuals around the world have been given the liberty of getting their required services immediately, from the comfort of their own homes. Many service providers including doctors, psychologists and lawyers have actively switched to online consultation. 

The same shift can be seen in the consultation practices of accountants. The notion of hiring a remote accountant or an online Certified public accountant (CPA),  has significantly grown in popularity over the past few years since more and more businesses are adapting to the new digital era and replacing many processes with web-based solutions. So, if you own a small business, using a remote accountant will take your business to the next level.  

What is an online CPA?

As much of a self explanatory the term itself is, an online CPA or accountant is one providing accounting and bookkeeping services virtually. An online accountant will combine the best of the traditional accounting practices with effective cloud-based accounting software to manage the accounts and finances of your business.   

There are a host of benefits of hiring a CPA online, specifically for small businesses, and we will look into 4 major benefits of hiring a CPA.

1. It is Cost Effective

Having an employee on your payroll as full-time or even part-time can cost you a gazillion bucks for no good reason. The added expenses of having full-time working employees include healthcare for the employee, payroll taxes, multiple allowances and other related costs. However, availing online services from a tax expert will save the business from incurring all these costs. This is an ideal situation for a small business or a start-up.  

Other than this, CPAs have a more diverse skill-set at their disposal so they’re providing you a wide range of services with in the same cost as compared to accountants and bookkeepers. They can maintain a general ledger, prepare various financial statements, offer bookkeeping services on your desired time, set up a relevant accounting system, budget and forecast cash flows, and provide payroll services. Along with all of that they can also offer financial advice for small businesses and start-ups. It pays to work with a single person who can do it all. 

2.You Have a Portable Accountant

Once you hire a CPA for their service online, you can take their advice without even having to set up a physical meeting because they’ll be just a call, text or email away. The location doesn’t matter, you may be in a different continent altogether, financial advice will always be just a click away.

3. Easy Access to Expert Financial Advice

CPAs are tax experts. They are well equipped with the necessary skill set to predict the right time to make a financial change or to alter the course of the finances. Having an online CPA enables businesses to have a go-to person for all related issues. For instance, if you decide to make a big change such as, moving, merging, business purchases, or closure, a CPA can help you a great deal in minimizing your costs, keeping you on track with your financial goals and targets while simultaneously analyzing all financial records. CPAs can at any point in time estimate and inform you about the fair market value of your business, meaning they can save you a lot of valuable time and effort.  

4. Paperless is Better

The coming years are bringing about a plethora of climatic changes and threats; for us running out of basic necessities. It is the responsibility of us individuals to look after the environment and sustain it, and as companies and organizations to give back to nature in any way, shape or form. Conservation of these natural resources will only be possible if major steps are taken on a very large scale. Conserving paper is a must. Hiring online CPAs not only accounts for data to be saved in easily accessible cloud-storage bases but also saves tons and tons of papers that is used in traditional accounting to make ledgers, financial statements, bills, invoices, checks, annual reports etc.    

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Accounting, cpa, Online CPA, Small Business, tax

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Empowering small businesses and individuals with efficient and reliable bookkeeping & tax services.

Accounting CPA

How Online CPA Could Save Your Money

How Online CPA Could Save Your Money

Accounting, CPA

In today’s modest business world, it is not uncommon for business owners, both large and small sized businesses, to manage their own accounting and financial matters. There is a multitude of reasons why this is done – the most common one is that you can save up on money doing so. Saving a couple of hundred bucks can definitely be a tempting prospect, but there are actually many more ways in which hiring a certified public accountant CPA online can help you make better money instead. 

If you choose to hire an accountant providing services online, you will find that you save your business more money in the longer run. 

Here are some ways how employing an online CPA can help you save your money.  

1.One Person Providing You with A Range of Services

CPAs are exceptionally-trained, energetic professionals who organize cutting edge technology and combine it with traditional accounting techniques to help companies manage their accounts, taxes, financial matter etc. With their insight and expert advice, you would be well on your way to compressing your finances and unlock new potentials of your business. CPAs as compared to a bookkeeper or accountant, have a plethora of services to offer to their clients. 

2. They Offer Irreplaceable Business Advice

As well as accounts management, CPAs can offer business guidance to assist you with increasing your chances of accomplishment. They can aid you to create and develop a business from the ground up by helping you with setting appropriate and realistic goals, planning the budget and forecasting, and pricing to increase your profits. This is just a tiny fragment of what they have to offer so make sure to take advantage of their knowledge to the fullest. 

3. They Free Up Your Time

Time really is money, so the more time you are freeing up doing your bookkeeping, tax filing, and financial statements, the more time you can dedicate to other more essential tasks that will actually generate money for your business and strengthen it even further. There is no point in wasting your time as the design maker, when you could be doing what you do best and fulfil your goals. 

4. Identify Openings for Growth

Since a CPA keeps your financial records up to date, you will always know the financial figures of your business. It’ll be quite clear and you’ll be easily able to judge how you’re performing, what’s coming in and what’s going out. Also, your liquidity will be on your fingertips.  

The data that a CPA’s efforts are providing you with has a great significance attached with it. For example, it can assist you ascertain how long you would survive if there was an economic recession, where you can or may need to cut down expenses to save up money, and where you should be allocating majority of your budget if you want to progress.

5. They Help You Avoid and Minimize Fines and Penalties

It is absolutely vital that your taxes are filed correctly and you need to do this on time as well. With legislations and laws changing every now and then, this isn’t easy. You may be leaving yourself vulnerable to penalties and charges, simply because you didn’t know about a tiny error. 

By having a CPA at your disposal, you can always be assured that you’re filing the taxes on time and that your taxes are correct.

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Accounting, cpa, Online CPA, Small Business, tax

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Accounting CPA Taxes Texas

Corporate Income Tax Filing Requirement in Texas

Corporate Income Tax Filing Requirement in Texas

Accounting, CPA, Taxes, Texas

As a small business owner in Texas, you’re responsible for filing a corporate income tax return every year. This post will outline the requirements for tax filing in 2022 and provide some tips to help make the process as easy as possible. 

Filing your corporate income tax return is a mandatory requirement in Texas, and it’s important to understand the filing deadlines and what taxes you’re responsible for. In this post, we’ll cover the most important things you need to know about corporate income tax in Texas. 

What Is the Corporate Income Tax?

Let’s start with the basics. The corporate income tax is a tax levied on the income of corporations. In Texas, the corporate income tax rate is 0.75%. 

That might not sound like a lot, but if your business generates a lot of income, it can add up quickly. And that’s why it’s important to file your corporate income tax return on time. If you don’t, you could face penalties and interest charges. 

Do All Businesses Have to Pay the Corporate Income Tax?

Not all businesses have to pay the corporate income tax. The tax applies to businesses that are organized as corporations, and it’s calculated using the taxable income of the corporation. 

There are a few exceptions, however. The first is a business that’s organized as a sole proprietorship or partnership. These businesses don’t pay the corporate income tax— instead, the owners report the business income on their personal tax returns. 

The second exception is a company that’s considered to be an S corporation. An S corporation is a special kind of corporation that’s taxed like a partnership. This means that the income and losses of the company are passed through to the shareholders, and they report it on their personal tax returns. 

There are a few other exceptions, but these are the most common ones. If you’re not sure whether your business has to pay the corporate income tax, you should consult with a tax professional or a CPA. 

How Is the Corporate Income Tax Calculated?

The corporate income tax in Texas is a flat rate of 0.75%. & 0.375% for retailers & wholesalers That means that all businesses in Texas pay the same percentage, regardless of their size or profits. 

To figure out how much you owe, you’ll need to calculate your taxable income. This is your total income minus any deductible expenses. There are quite a few of these, so it’s a good idea to speak to an accountant to get a clear idea of what you can and can’t claim. 

How Often Is the Corporate Income Tax Paid?

Do you know how often your company is required to file a corporate income tax return in Texas? In most cases, it’s every year. The deadline is usually May 15, and you can find more information on the Texas comptroller’s website. 

But it’s important to note that there are some exceptions. For example, if your company has been in business for less than 12 months, or if it has zero income for the year, you may not need to file a return. So be sure to check the rules carefully to make sure you’re in compliance. 

And if you’re not sure what to do, don’t worry—our team can help you out. We’re experts when it comes to corporate income tax filing in Texas, and we’ll make sure everything is done correctly and on time. 


What Are the Penalties for Not Paying the Corporate Income Tax?

So what happens if you don’t pay your corporate income tax? Well, the penalties can be pretty harsh. The state can levy a penalty of up to 20 percent of the unpaid tax, and they can also impose interest and late payment fees. 

In addition, the state can seize your assets and put a lien on your property. They can also bring criminal charges against you, and you could end up going to jail. Yikes! 

As you can see, it’s important to stay on top of your corporate income tax obligations and file your return on time. The penalties for not doing so can be costly and damaging to your business. 

Are There Any Exceptions to the Corporate Income Tax?

You may be wondering if there are any exceptions to the corporate income tax. The good news is that there are a few. Here are just a few: 

As a small business owner in Texas, it’s important to stay up to date on the corporate income tax filing requirements. The deadline for filing your corporate income tax return is April 15, and you can file online or by mail. 

If you have any questions about corporate income tax in Texas, or need help filing your return, our team of experts is here to help. We can take the hassle out of tax season and make sure your return is filed on time and accurately. 

Contact us today to learn more about corporate income tax in Texas and how we can help you file your return. 

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Accounting, cpa, Online CPA, Small Business, tax, Taxes in Texas

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Empowering small businesses and individuals with efficient and reliable bookkeeping & tax services.