Choosing the right accounting software for your small business

Photo By Tumisu Selecting the right accounting software is a crucial decision for your small business’s financial health and accuracy. With numerous options available, this process can seem daunting, but making an informed choice is essential to streamline operations and mitigate risks such as financial fraud and regulatory non-compliance. Introduction The challenge of choosing appropriate accounting software stems from the need to balance functionality, ease of use, and cost-effectiveness. As…  Read more

Tired of chasing payments? Handy tips for managing your receivables

Photo By Mohamed Hassan Running a small business is a constant juggle, and one of the more frustrating tasks is managing your receivables. How often have you found yourself waiting on overdue invoices, wondering if you’ll have enough cash flow to cover next month’s expenses? If this sounds familiar, you’re not alone. Many small business owners struggle with keeping their accounts receivable in check, which can ultimately impact their business’s…  Read more

7 things those affected by the LA Fires need to know about the IRS Tax Relief

The IRS has announced critical tax relief for individuals and businesses affected by the recent LA wildfires and straight-line winds. If you’re navigating the aftermath, here are seven essential points about this relief. 1. Extended deadlines for filing and payments The IRS has pushed various federal tax deadlines to October 15, 2025. This includes: Individual income tax returns and payments initially due on April 15, 2025. Quarterly estimated income tax…  Read more

Tax Season Tips for Small Business Owners

Preparing for tax season is really a year-round endeavor. Tip number one for SMB owners is to update financials on a monthly basis, using a streamlined software or cloud-based system. This way, come tax time, everything you need is all in one place. And well organized SMBs are better positioned to minimize their tax bill while avoiding penalties associated with missing or inaccurate information. Here are four more ways to…  Read more

Essential bookkeeping practices for start-ups

Don’t underestimate the basics Starting a new business is exciting, but it also comes with its fair share of responsibilities. One of the most critical responsibilities is maintaining accurate records of your business transactions. From saving receipts to processing employee payroll, every money-related detail should be documented. It’s not just about keeping things tidy; it’s about understanding the financial health of your business and meeting all your tax obligations. Photo…  Read more

Navigating State of Emergency Tax Relief for Southern California Wildfire-Affected Businesses

Our Hearts Go Out to Southern California As the wildfires continue to rage across Southern California, our hearts are heavy with concern for everyone affected by this devastating disaster. The loss of homes, businesses, and the natural beauty of the region is truly heartbreaking. We extend our deepest condolences to those who have suffered losses and are facing the uncertainty of what comes next. In these challenging times, we are…  Read more

5 Xero Mistakes Business Owners Make and How To Avoid Them

Photo By Geralt If you’ve just started working with Xero, it is normal to make a few mistakes while you’re learning. We see mistakes that are quite common – and unfortunately costly – so you should be aware of them if you want to get the most out of Xero’s powerful cloud accounting system. 1. Not connecting all the bank and credit card accounts dedicated for your business Make sure…  Read more

What happens in a data breach and what you can do about it

Photo By Thedigitalartist You might have a mental image of data breaches happening only at big institutions like banks, password managers, or even government agencies. But the truth is, any website that stores personal information can be vulnerable to a breach. Now, not all breaches are created equal, and the impact on individuals and businesses can vary greatly. But hey, don’t panic just yet! We’re here to lend a helping…  Read more

Setting and tracking financial goals for small business success

Photo By Carlos Muza Setting financial goals for your business may be one of your most important responsibilities as a leader and business owner. Your financial goals serve as far more than wishful projections, they form the backbone of your road map for success, internal and external. Financial goals are something that every single business should possess regardless of its market, model or size. Let’s explore how you can set…  Read more

10 Strategies to Minimize Your California Business Taxes Before 2024 Ends

As the end of 2024 approaches, California business owners are gearing up to close their financial books and prepare for the upcoming tax season. While tax planning is ideally a year-round activity, there are still plenty of last-minute strategies you can employ to minimize your tax liability and maximize your savings. Here’s a list of ten optimistic and actionable steps you can take to ensure your business is in the…  Read more

Tax Season Tips for Small Business Owners

Photo By Stevepb Preparing for tax season is really a year-round endeavor. Tip number one for SMB owners is to update financials on a monthly basis, using a streamlined software or cloud-based system.  Xero Accounting allows you to keep on top your financials, on demand.  And, it makes it easy to collaborate with your bookkeeper and tax preparer, so that your tax returns can be prepared more efficiently. This way,…  Read more

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