Blog
Do I Need to Recalculate My Estimated Taxes During the Year?
Many business owners ask, “Do I need to recalculate my estimated taxes during the year, or can I just use the payment coupons from last year’s return?” If your income changes during the year, your estimated tax payments should change too. Estimated taxes are intended...
The Worst Accounting Mistakes We’ve Seen Businesses Make
After working with business owners for 20 years, we at SBS have seen certain accounting mistakes surface again and again. These patterns often come to light only after the mistake has caused financial, tax, or operational problems – and we want to make sure your...
Get Your Money Quicker – AR Best Practices
Late-paying customers are one of the most common cash flow challenges for small businesses. You can be profitable on paper and still feel constant pressure if too much of your revenue is sitting in accounts receivable instead of your bank account. For many businesses,...
How to Issue a 1099 the Right Way
If your business paid contractors, freelancers, or unincorporated vendors this year, you may need to issue a 1099. Though it sounds simple, the process plays an important role in how the IRS matches income across tax filings. When 1099s are missing or incorrect, the...
Distributions are a bad way to pay your salary
If your business is organized as an S‑Corporation, you (as a shareholder‑owner who also works in the business) have a key decision to make each year: how much to pay yourself as W‑2 salary, and how much to take as a distribution. It might be tempting to minimize your...
How to Choose a Bookkeeper: 7 Things to Look For
Finding the right bookkeeper can be difficult, time-consuming, and even intimidating. Many small business owners hesitate because bookkeeping involves handing over sensitive financial information to someone outside their company. We know how important it is to find a...
Personal Tax Year-End Planning Moves to Consider in 2025
As we approach the last quarter of 2025, it’s important to ensure your personal finance and tax strategies are aligned before December 31. With several tax law changes taking effect this year because of the One Big Beautiful Bill Act, and more on the horizon in 2026,...
Apply Warren Buffet’s Favorite Metrics to Your Business
Warren Buffett is known for his long-term thinking and careful evaluation of business fundamentals. Though small business owners don’t run publicly traded companies, many of the same metrics that Buffett relies on can offer meaningful insight into how your business is...
Individual Taxpayers Face Big Changes With New Tax Law
Big changes are coming to individual taxes, thanks to the recently passed One Big Beautiful Bill Act. While many headlines have focused on the bill’s impact on small businesses, there are several important changes that will directly affect individual...
Proposed Tax Bill Impacts Your Small Business
A significant piece of tax legislation, known as the "One Big Beautiful Bill Act," has recently passed the House of Representatives and is now under consideration in the Senate. While not yet law, this bill contains provisions that could substantially affect small...
