Forecasting is more important than budgeting
At our “3 Must-Know Year-End Tax Strategies” event in November, Jonathan Bill explained how budgets are a license to spend, but forecasts are a license to make profit. Based on the book Simple Numbers by Greg Crabtree, which we use here at SBS Accounting &...
Health savings accounts (HSAs) offer triple tax advantage
At our “3 Must-Know Year-End Tax Strategies” event last month, Phillip Focaracci (CPA, SBS Accounting & Advisors), explained how health savings accounts, or HSAs, can be a big winner for small businesses and their owners. Not only are they a powerful way to save...
Oh no! My business just got an audit notice from the IRS!
Getting an IRS audit notice would probably induce stress for just about any small business owner. But if you find yourself in this situation, there are a few things to keep in mind that can make your life easier. First, there are a lot of scams out there trying to...