8 Things Entrepreneurs Should Keep in Mind for Tax Season

Most entrepreneurs clinch at the sound of the word “taxes.” And it’s not simply out of a fear of paying large sums of money to Uncle Sam. It’s more because of the complexity – the multiple layers and branches of compliance associated with taxes. This is not true for everyone, but there might be some who would rather pay a little more in taxes in exchange for some relief from the burden of the paperwork, research, and unknown final results of filing tax reports.

But entrepreneurs need to come to grips with the fact that taxes are an inevitable part of being in business. The best antidote for the fear and dread associated with taxes is preparation. Planning, knowledge, and information help to reduce the anxiety about dealing with the mean IRS.

Of course, no one will ever know everything about taxes – industry trends, compliance issues, and even simple changes in government all lead to regular changes in the tax code. But knowing some basics about your tax situation and knowing where to turn to when your situation changes can help you confront the fear of what will happen if you receive bad news from the IRS.

Entrepreneurs can confront their fears and address their tax obligations through planning and preparation. Here are the basic steps every entrepreneur should consider:

April 5th, 2017|Tax|0 Comments

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Podcast: How Startups Can Integrate Effective Accounting as Part of their Launch


I had the pleasure of joining Bruce Hurwitz on The Voice of Manhattan Business from the Manhattan Chamber of Commerce to discuss how startups can integrate effective accounting as part of their launch.

Check out the conversation here!

March 3rd, 2017|Uncategorized|0 Comments

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Accounting Survival Kit For Startups

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After working with several startups and speaking with many small business owners, we have noticed that the implementation of accounting processes is not always a top priority. To help you avoid making the same mistake, we want to share with you some basic tools and services all new companies should implement before opening for business.

February 1st, 2017|Accounting|0 Comments

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Where is my W-2?

If you switched employment in 2016, you may not have received an email notification that your W-2 is available online. This may not mean that your prior employer did not send you notification, but rather that the employer does not have your correct email address.

January 25th, 2017|Tax|0 Comments

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Tax Readiness Checklist

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Tax season is around the corner… A little planning before year-end can make all the difference.

Are we really talking about taxes again? It feels like just yesterday I was writing about how to track down your W-2 and how to avoid missing important deadlines for key tax saving opportunities. Well, since January is almost here, I want to (share a few tips to help you cruise through yet another tax season. The following list is not all-inclusive. Talk to your tax professional to ensure you are aware of all factors impacting your taxes. 

December 7th, 2016|Tax|0 Comments

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Countdown to the Year-End Close

If you are looking forward to taking some time off during the holidays, you will probably be concerned with the long list of tasks you need to complete before and after your vacation, such as those related to the year-end close. Your ability to enjoy that time off might also be tainted by the fact that you’re worrying about work to-dos. In my career as an accounting professional, I have always been involved in the year-end close, yet managed to stay away from the office during the holidays. Before asking for the days off, I refined what I thought was the perfect plan to ensure the year-end close would not fall apart. But, it wasn’t only about convincing my boss that I had everything under control, it was more about my peace of mind. I did not want to be at the dinner table with my family having a conversation about my employer’s external audit team, or the massive data I had to work with to reconcile the accrued expenses account. I wanted to leave the office around December 20th and not have to think about it until January 3rd. Here is my perfect plan for accomplishing my mission:

November 8th, 2016|Accounting, General|0 Comments

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