Business Owners May Face Special Compensation Rules

Business Owners May Face Special Compensation Rules

S corporations allow the business to pass corporate income, losses, deductions and credits through to their shareholders for federal tax purposes. But with those great advantages come many rules, including those related to compensation. Shareholder-employees may think there’s no practical difference between income as an owner and income as an employee, but they’d be wrong. … Read more

Lease Accounting – Should You Lease or Buy?

Lease Accounting - Should You Lease or Should You Buy

When it comes to lease or buy, there are pros and cons to both options. In this post, we will explore the advantages and disadvantages of each choice so that you can make the best decision for your company. Leasing is a great option for businesses that want to conserve cash flow, while buying assets … Read more

What Types of Accounting Services Can You Outsource?

outsource accounting

Maintain accurate records; keep track of your company’s finances, bookkeeping, payroll, management accounting, taxes, accounts receivable, accounts payable and financial reporting; and follow up on debts and compliance. Phew! What a relief to have expert professionals to turn to for managing accounting functions. Are you looking for a broad range of tasks to be done … Read more