For many small business owners, bookkeeping starts as a simple task: tracking expenses, reconciling bank accounts, and staying organized for tax season. But as a business grows, financial decisions become more complex — and that’s when many owners begin wondering whether they need more than basic bookkeeping support. While bookkeepers and CPAs both play important […]
Category Archives: Business Owner
13
Jan
Jan
Small business owners are facing some of the most significant changes to the U.S. tax code in years. With major new legislation that alters depreciation, deductions, and other key tax provisions, it’s critical for SMB owners to understand how these updates can affect tax planning, bottom line, and financial strategy. Major Legislative Changes in 2025 […]
12
Dec
Dec
As the end of the year approaches, small business owners have a powerful opportunity to reduce their tax burden, strengthen their financial health, and set the stage for a smoother tax season. The earlier you begin planning, the more options you have — especially when it comes to deductions, retirement contributions, estimated taxes, and business […]
17
Nov
Nov
If you’re using QuickBooks to manage your bookkeeping, you’re already doing the heavy lifting — tracking revenue, expenses, cash flow, and so on. That’s great. But when it comes to presenting your business to lenders, investors, partners, or just getting a clearer picture of your financial health, you’ll benefit tremendously from a professional review of […]
12
Sep
Sep
Getting audited by the IRS can be intimidating, but with the help of an IRS resolution professional, the process can be much easier and more successful. The worst thing that can be done is ignoring IRS notices for long periods of time, including years. Sticking one’s head in the sand won’t make the problem go […]
01
Jun
Jun
I often see things like this from other impersonal tv/radio-advertised firms, “We helped a client save $500,000 in taxes!” But I want to be clear on this. I am not going to be like the over-promising firms you hear on TV and radio. Obviously, there is no person attached to these statements by the tax […]
18
Apr
Apr
*Note: This article was written before the 25% tariffs were announced. Unfortunately, more and more businesses showed an overall loss for the 2024 calendar year compared to past years. Having personally reviewed many 2024 profit & loss statements this 2024 tax season, it is apparent that annual net losses are running rampant. I am referring […]
11
Dec
Dec
Half of our business activity comes from cleaning up QuickBooks online accounting, bank reconciliations and financial statements. Oftentimes, we assist business owners with this process for multiple years, if the client has not filed business tax returns for several years. The usual progression for a business owner is they start recording the accounting themselves in […]
26
Jul
Jul
During this summer of 2023, it seems the marketplace has had a tremendous demand for financial statement reviews. Only a CPA has met the professional and legal requirements to complete a review of financial statements and provide an official accountant’s review report. Some of the financial statement reviews we are currently working on at Simpson […]
15
May
May
As the Veteran CPA and someone who works with many small business owners in service industries such as home remodeling, lawn care services, heating & air, etc. this often becomes the most important message a business owner needs to hear: We strongly recommend raising your prices 10% to 20% so that your business can turn a profit. Here […]