W9 vs. 1099

There are a couple items that we as business owners need to know regarding W9 and 1099 forms. 1. Obtain a W9 from all vendors who are providing services for your company. If there is already one on file, make

10 Steps to a Successful Audit

1. Plan ahead – To be ahead of the curve, treat audit preparation as a year-long process. By keeping schedules and reconciliations up-to-date throughout the year, you can reduce the time it takes to prepare for the audit at the

QuickBooks Tips To Simplify Your Life

1. Use ProAdvisor – ProAdvisor is part of the QuickBooks Intuit Package and connects you with a local accountant who can help get you up and running on the software. They can also advise you on issues like tax requirements, offsetting of

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Basic Accounting Terms All Business Owners Should Know–Income Statement

1. Cost of Goods Sold (COGS) – Cost of Goods Sold are the expenses that directly relate to the creation of a product or service.  An example of COGS would be the cost of Materials, or the Direct Labor to

Best Practices for Repaying your Loan

1. Make a budget – To ensure the money is always there, it’s best to make a budget—or adjust your budget if you already have one.  By keeping track of where your money is coming from and going to, and

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