Day: December 6, 2021

4 More Ways Your CPA Can Help You Save Some Dough

Christina Lane


Here’s another look at the way your CPA can help you run your business!

Having one accountant on your team is a smart play. Retaining an entire team is even smarter. Last time out, we discussed some ways your certified public accountant can save you and your business much-needed cash. Times are tough all around, and your financial considerations can keep you out of hot water. Here’s another look at the way your CPA can help you run your business!

Making the Most of Your Eligible Deductions

Your CPA has enough savvy to determine which deductions you can write off of your taxes. Understandably, you’d hesitate to claim too many deductions. It might look suspicious on your filings. Still, your CPA knows how to keep you on the right track with the IRS. Side income (say, from subsidiary companies) falls under your accountant’s purview. That way, revenues, expenses, and deductions will be responsibly reported.   

Using Tax Laws to Your Advantage

Various tax laws govern what you can do and what you can’t for your cash flow. Suppose, for example, that you stockpiled a “war chest” of financial resources for leaner times. This “rainy day fund” is a good idea, but you’ll want to be careful as the rules change. That way, you won’t get into trouble, and newer enterprises, such as C-Corps and S-Corps, can take flight without having their wings clipped. 

Detecting Potentially Disastrous Mistakes

Mishaps, mistakes, and misappropriations can cause havoc. Human error or carelessness is to blame for many tax-related problems. But when you work with a highly-respected CPA firm, you’ll find out why their reputation precedes them. Older returns can still yield dividends. It just takes some patience and persistence. Think about it this way – the amended paperwork could bring back enough money to pay your CPA for their kind contributions.  

Handling Bookkeeping-Related Logistics 

Running the books can be a challenge. Besides, when you are a business owner, you have enough on your plate. Now imagine if you were a sole proprietor. Your ventures, no matter how modest, can quickly overwhelm you. That’s why CPAs can step in and handle the relevant logistical demands for you. Having someone there to supervise your business operations keeps them humming along – and they can sniff out embezzlement if their numbers don’t look right!   

trust the professionals at the Harding group

Unlike other accounting firms, The Harding Group, located in Annapolis, MD, will never charge you for consultations and strive for open communication with our clients. 

Are you interested in business advising, tax preparation, bookkeeping and accounting, payroll services, training + support for QuickBooks, or retirement planning?  We have the necessary expertise and years of proven results to help. 

We gladly serve clients in Annapolis, Anne Arundel County, Baltimore, Severna Park, and Columbia. If you are ready to take the stress out of tax time, contact us online or give us a call at (410) 573-9991 for a free consultation. For more tax tips, follow us on FacebookTwitterYouTube, and LinkedIn

 

The post 4 More Ways Your CPA Can Help You Save Some Dough appeared first on The Harding Group.

Here Are Some of the Ways CPAs Can Save You Some Cash

Christina Lane


How can CPAs make a difference?

It’s a universally acknowledged fact that money makes the world go around. That’s just how it is. No matter how you feel about this principle of modern society, you need plenty of money to keep your business running. For all of the income you generate, you must also realize that the Internal Revenue Service requires you to pay your share of taxes. That’s when you should ask a certified public accountant to supervise your financial affairs. How can CPAs make a difference? 

CPAs and the IRS 

The IRS is always watching. Despite the volumes of submissions they have to comb through when they detect errors, you and your business could be in for a world of trouble. Even if you make a small mistake or you aren’t aware of recent changes to applicable tax laws, the IRS will not be lenient about it. Hire a CPA to take care of the tax return process for you. 

Your In-House “Tax People” Aren’t Overextended 

While you may have employees on your payroll that handle your taxes, they probably also have other duties. When you hire a tax professional (or even a team of experienced CPAs), you’ll be saving your regular team members a great deal of stress. 

Time is Money, and Accountants Handle the Math 

Inflow, outflow, income, expenses, what do these terms all mean? They are all accounting-based concepts that you probably only have a fleeting grasp of. Skilled accountants can handle all of the tricky calculations and deductibles that may be in play. Plus, they’ll tell you how to categorize each item in your accounting software. If you don’t have any software, your CPA can manage everything for you throughout the year and not just when the tax day deadline is approaching!  

They’ll Discover Unexpected Tax Rebates 

Tax rebates are always helpful. These incentives are offered as ways to encourage businesses to pursue sustainable growth. What do we mean, exactly? In other words, the government wants you to be friendlier to the environment. Your CPA can inform you about the potential rebates that you’re eligible to receive and how to take advantage of them on your return paperwork. 

trust the professionals at the Harding group

Unlike other accounting firms, The Harding Group, located in Annapolis, MD, will never charge you for consultations and strive for open communication with our clients. 

Are you interested in business advising, tax preparation, bookkeeping and accounting, payroll services, training + support for QuickBooks, or retirement planning?  We have the necessary expertise and years of proven results to help. 

We gladly serve clients in Annapolis, Anne Arundel County, Baltimore, Severna Park, and Columbia. If you are ready to take the stress out of tax time, contact us online or give us a call at (410) 573-9991 for a free consultation. For more tax tips, follow us on FacebookTwitterYouTube, and LinkedIn

 

The post Here Are Some of the Ways CPAs Can Save You Some Cash appeared first on The Harding Group.

Business Advice: Some Helpful OSHA Guidelines for Returning to the Workplace

Christina Lane


If you need some business advice regarding this matter, we’ve got answers for you!

The Occupational Safety and Health Administration issues workplace-related safety rules. Although it’s easy to assume that such rulings only apply to construction zones or heavy industry, every business facility is subject to their regulations and inspections. The COVID-19 pandemic turned everything upside down and inside out. But now, with vaccinations becoming increasingly prevalent, going back onsite is also going back to normal. If you need some business advice regarding this matter, we’ve got answers for you!

Making the Proper Preparations 

First things first recognize that there is going to be an adjustment period. Transitions are always bumpy, no matter what the paradigm shift entails. The traditional notions surrounding the five-day workweek and the daily commute grind are more than likely going to change. Beyond falling by the wayside, remote work looks like the wave of the future. In the meantime, here is a compelling list of business advice in regards to new training procedures. 

 

Emphasize employee benefits and paid sick leave;Practice social distancing within reason use of PPE, contact tracing, and improved sanitization;And be more vigilant against OSHA rule violations

 

Complying with Updated “Best Practices” 

Along those same lines, strive to comply with the new definition of best practices for workplace operations post-pandemic. First and foremost, make employee health-related matters at the top of the office pyramid. Designate “essential workers” who must remain onsite, even if they work as a temporary skeleton crew. Begin scheduling virtual meetings over platforms such as Zoom, FaceTime, and Skype. Put a written plan in place that changes as circumstances change. We’re all still in a state of flux, and your business needs to be agile in ways that it probably has never needed to be until now.  

Prioritizing New Human Resources Strategies 

HR departments have long been the backbone for recruiting prospective employees. Then, individual team managers oversee the onboarding process, especially if further training is required depending on the different industries factor in how employee development needs to change. Likewise, revise your payroll routines accordingly. Investigate outsourcing – it might be a good solution!

trust the professionals at the Harding group

Unlike other accounting firms, The Harding Group, located in Annapolis, MD, will never charge you for consultations and strive for open communication with our clients. 

Are you interested in business advising, tax preparation, bookkeeping and accounting, payroll services, training + support for QuickBooks, or retirement planning?  We have the necessary expertise and years of proven results to help. 

We gladly serve clients in Annapolis, Anne Arundel County, Baltimore, Severna Park, and Columbia. If you are ready to take the stress out of tax time, contact us online or give us a call at (410) 573-9991 for a free consultation. For more tax tips, follow us on FacebookTwitterYouTube, and LinkedIn

The post Business Advice: Some Helpful OSHA Guidelines for Returning to the Workplace appeared first on The Harding Group.

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https://www.digital-accountants.com/?p=564