Business Tax

No matter what the size of your business, if you want it to grow and be a success in the future (or continue to grow and become even more successful), you’ll need strategic planning, of which revenue forecasting has a vital role to play. What is revenue forecasting? Whether monthly, quarterly or yearly, estimating a business’s revenue from the sale of goods and services over a specific period, is known… Read More

An option for business owners that many more are taking advantage of in recent years – especially in light of the ongoing pandemic – remote bookkeeping can be beneficial for businesses of all sizes, and can be carried out by qualified and experienced teams of bookkeepers and accountants locally, or from anywhere in the world. Providing the same services as traditional bookkeepers and accountants, outsourced bookkeeping and accounting can often… Read More

Balance sheets are a fantastic tool for helping you assess the performance of your business, and should be a part of the financial model in your business plan. Categorizing your assets, liabilities and equity, your balance sheet should show that your total assets equal the sum of your total liabilities and total equity. If this isn’t the case, then it doesn’t mean that your business is performing badly, rather that… Read More

The Foreign Investment in Real Property Tax Act, better known as FIRPTA, has been put in place to make sure that foreigners owning real estate property in the U.S. complete and file the appropriate tax documentation in respect to the sale or transfer of that property. When a foreigner sells or transfers real estate here in America, there are various process and procedures outlined by the IRS that they must… Read More

Despite the fact that audits are probably not as common an occurrence as most business owners might think, it still pays to do your best to avoid being targeted for one, by working closely with a tax and accounting professional, throughout the year. However, should you be selected by the IRS for a tax audit as a business owner (which likely means you’ve been managing your taxes without professional help),… Read More