The IRS looks for accounting mistakes and errors that are blatant and contrary to GAAP principles—misreported income and misclassifications.
Articles: Bookkeeping
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Small Business Accounting Mistakes: Consequences & Prevention
This week, I want to revisit some accounting mistakes that are easy to make and difficult to correct. For each one, ask yourself, “Do we have a process for this?”
What Are The Benefits Of A Professional QuickBooks Setup?
Optimize bookkeeping and accounting for business performance insights and boost tax savings with a professional QuickBooks setup.
Top Accounting Practices of 2024: How to Stay Ahead of the Curve
See my updated yearly guide for news on the latest accounting and financial practices, including developments in aaccounting software and AI.
What is an Accounting Cycle?
Learn the basics of the accounting cycle and get practical advice you can use now to create accurate and tax-efficient accounting processes.
What Is GAAP in Accounting? The Importance of Financial Reporting Standards.
What is GAAP in accounting? It’s the first thing investors and buyers will look for when you show them your books. Get the details here.
What Is Accounts Receivable?
Get this critical piece of your business’s balance sheet squared away for better visibility over cash flow metrics that fuel business growth.
Seven Essential Small Business Accounting Tips
If you want to save on your tax bill, follow the essential accounting tips I’ve outlined in detail in this article.
Your Bookkeeping Clean-up Checklist for 2024
Clean up your bookkeeping, save on taxes, and plot a more efficient growth trajectory.
How to Depreciate a Car for Business
Learn how to depreciate a car for business, account for depreciation, and claim lucrative tax credits.
How to Keep Track of Business Expenses
How to keep track of business expenses at scale? I asked a CEO and bookkeeper about habits and processes. Surprise! It’s actually simple.
What is Bookkeeping: The Complete Guide for Business Owners
Bookkeeping is the act of recording and classifying an organization’s financial transactions. To understand bookkeeping for small businesses, we’ll...
Bookkeeping vs. Accounting: What’s the Difference?
Bookkeeping vs. accounting — every business owner wonders, at some point, “What’s the difference?” I’m a CPA, and here’s a short explainer.