29 12, 2021

9 FAQs About Estate Planning

2021-12-22T21:40:25+00:00December 29, 2021|0 Comments

Preparing your loved ones for a life without you can be scary, stressful, and overwhelming. However, it’s also one of the kindest gifts you can give them. If you want to solidify your legacy—and protect those you care about—read these FAQs about estate planning.

Q. At what age should I start estate planning?

A. You’re never too young or too old to plan your estate. In fact, don’t think of this as an age-related task. If you have assets, dependents, and pets you want to protect, then you should start estate planning.

Q. What are some of the assets I can allocate?

A. You can allocate assets like:

  • Material goods, such as furniture, jewelry, or sentimental items;
  • Money and bank accounts;
  • Stocks; and
  • Properties, such as homes or land.

Q. Does estate planning just cover material goods, money, and properties?

A. No, it doesn’t—which is why it’s so important. As you plan your estate, you can specify who you want to take care of your children or adopt your pets after your passing.

Q. What dangers do I risk if I skip estate planning?

A. Forgoing estate planning can come with unwanted surprises. They include:

  • Stress in your loved ones’ lives;
  • A deluge of taxes on your assets;
  • Your assets being inaccessible due to the probate process;
  • Confusion and possible legal battles; and
  • Difficulty deciding who may look after your dependents.

Q. What is the probate process like?

A. One of the most common FAQs about estate planning involves the probate process. Essentially, that’s when the courts determine your assets and figure out how to disperse them properly.

They may also deal with disagreements about who will receive what. A will can make the process more straightforward, but it can still last anywhere from nine to 12 months—or longer.

Q. Is there a standard outcome that will occur if I don’t plan my estate?

A. No—which is why it’s so critical to plan your estate. Otherwise, your assets will be subject to interstate laws, which vary from state to state. That uncertainty can make a sad time even worse for your loved ones—so please consider taking the time to outline your plan.

Q. Should I get an estate planning lawyer?

A. It is a good idea. From requirements, to witnesses, to covering areas you may not have thought about, an estate planning lawyer can help.

Q. Do I need a witness for my will?

A. Yes, you will need not one but two—or more—witnesses to sign your will.

Q. How can my C.P.A. assist with estate planning?

A. Your C.P.A. knows all about taxes. Their assistance can be invaluable! After all, the amount you allocate to your loved ones may seem like a lot—unless you count in what the government will claim. Let your C.P.A. answer all your questions and give you the info you need!


The way you protect your loved ones can leave a long-lasting legacy of love. Put the most important people in your life first by establishing a will. That way, they can focus on honoring your memory.

If you have more queries beyond these FAQs about estate planning, message us here. Plus, for more on financial planning, check out our blog.


29 11, 2021

An End-of-Year Checklist for Small Business Accounting

2021-12-02T20:07:53+00:00November 29, 2021|0 Comments

Before we know it, another year will be behind us! But there is still time to get a grip on your business finances. In fact, we’re sharing an end-of-year checklist for small business accounting now to help you get organized!

Get your accounts in order.

How organized are your books? The first step is making sure your books are correct, current and ready to go. Additionally, it will help you see who may owe you money and vice versa.

Prepare key financial documents.

To clarify, a few key documents include a balance sheet report, an income statement report and a cash flow report. Together, these reports help you see where you are financially and where you have been.

Plus, these reports can be used to plan for a final push to reach your financial goals for the year, or a jump start for next year’s plan.

Analyze cash flow statements.

Included on our end-of-year checklist for small business accounting is taking a hard look at your business’s cash flow statements. This report shows how your money was spent throughout the year.

By thoroughly reviewing it, you can identify spending trends for the year.

Closely review and understand your finances.

The analyzing continues with the task of reconciling any card statements with your account records. Double check each item, line-by-line, to make sure the statements match your balance sheet.

Gather your tax documents.

Now is a good time to find all of your tax forms such as the 1099-NEC or Form 1096, and W-2 and W-3 forms. Be sure to include your annual or quarterly state and federal payroll returns as well.

Update employee and payroll information.

Now is a good time to conduct an end-of-the-year employee information audit. Connect with your employees and make sure their contact information and addresses are current.

Verify vendor information.

Do the same thing with your vendors and make sure all their information is up to date in your system.


Finally, contact us to schedule your free consultation! We would be happy to help with your small business accounting year-end needs as well as planning ahead for 2022. For more accounting insights, be sure to check out our other blogs.

29 10, 2021

The Benefits of Using QuickBooks for Your Small Business

2021-10-29T16:04:02+00:00October 29, 2021|0 Comments

Opening your own business can be scary. But managing that business doesn’t have to be with the right tools. Luckily, we are here to share the benefits of using QuickBooks for your small business, one tool that we think is a must!

It saves time and money.

First of all, QuickBooks saves time and money. It offers a lot of flexibility when it comes to accounting tasks. It streamlines accounting; therefore, freeing up your time to focus on other things—like growing your business!

You will find software that is focused on small businesses.

QuickBooks is user-friendly. It is customer-oriented, and it helps you better serve your clients in the long run.

QuickBooks is efficient.

Again, there are a ton of options with this software. You can manage payroll, create invoices, time sheets, customized charts and much more.

Plus, there are a ton of helpful shortcuts within the platform.

It gives you access to money management tools.

One of the benefits of using QuickBooks for your small business is better money management. You can track tax due dates, keep up with recurring bill payments and enjoy automated records.

Additionally, you can choose to link your bank account and eliminate the need for statements.

QuickBooks works well with others.

Not only is this software user-friendly, but QuickBooks also integrates easily with other software services. For example, you can import or export data from QuickBooks to Excel (or vice versa) seamlessly.

The platform provides financial security.

For one thing, QuickBooks is constantly evolving and improving. Thus, they are one of the leading software programs in terms of new technology and safety.

Moreover, their data center is continuously monitoring the safety of your assets 24/7. They also use additional security features such as multi-factor authentication and password protected login.

QuickBooks has an automated backup service.

All transactions and financial data are automatically stored. This is another one of the benefits of using QuickBooks for your small business that saves time!


Finally, another benefit of using QuickBooks for your small business is peace of mind! When QuickBooks is set up correctly from the beginning, it is a tool that ensures efficient money management.

This is where we come in. As members of QuickBooks ProAdvisor® Program, we can help you get started. Step one, contact us to schedule your free consultation. Step two, figuring out which version of QuickBooks is right for you.

For more information about who we are, our services and general financial news, continue to read our blogs!

30 09, 2021

The Fundamentals of Business Audits (And How You Can Prepare)

2021-09-30T16:06:56+00:00September 30, 2021|0 Comments

The word “audit” alone can inspire a flurry of fears. But it shouldn’t! If you prepare correctly—and file your taxes accurately—then you have nothing to worry about. We’ll help you ease those financial fears by reviewing the fundamentals of business audits.

What are audits?

Here’s a little mnemonic device to help you remember what audits are. When you think “audit,” remember that it starts with the letter “A” like the word “accurate.” Audit = accurate.

Got it? Good! If not, though, we’ll happily explain a little further.

Why have audits?

When a business needs their financials explored, that process is known as auditing. This can be for a benign, routine reason! Your business may even hold regular audits, just to keep everything on track.

However, if someone internally—or even the IRS—flags certain occurrences as unusual or fraudulent, then they may order an audit. That way, they can determine the source of the discrepancies.

Let’s take a breather

Before we get any deeper into the fundamentals of business audits, we should take a breather.

Feeling a bit anxious? Think of audits like your yearly dentist appointment. You go to make sure your teeth—or, in this case, your business—are healthy. And, you want to have a trusted professional examine any potential problems. That way, you have peace of mind that your business is operating efficiently.

Types of audits

If your business undergoes an audit, it will come from one of two source types.

Internal audits

The first kind is internal, or from within your business. These aim to explore the financials, like spendings and earnings. Likely, they will also take a look at how your business runs at multiple levels. That way, they can assess the overall efficiency—which can be costly if not operating correctly.

External audits

The second kind is external, such as one from the IRS. They will mail you a letter to let you know about the situation or give an in-person interview to explain the situation.

Don’t start sweating just yet! You can have a top-of-the-line business with picture-perfect tax filing and still get an audit. The IRS actually will request random audits from time to time.

On the other hand, they may also notice tiny discrepancies in your filing. Or, in some rare cases, they have flagged outright fraud. However, if you’ve done nothing wrong, then you should be just fine. So relax, and trust the experts.

What happens after?

Phew, it’s over! So, what happens after your audit? Well, you’ll get a report. It will detail findings the auditors observed. It will also tell you whether or not your records are accurate—and if there’s anything missing.

How should I prepare?

They say that an ounce of prevention is worth a pound of cure. We agree! You should prepare for an audit by:

  • Keeping detailed records. Every receipt matters. You should file them away, along with all your financial documents. That way, you can hand them over without worry.
  • Reading up on best practices. You should take time every year to read up on best financial and tax practices. Don’t forget to brush up on tax laws too!
  • Not delaying your response. The IRS may contact you. If they do, respond ASAP!
  • Hiring us. We know how to organize your financials! We also know how to file taxes in every state. Let us lessen the burden and get the job done right.


Whether they come from within your business or from the IRS, audits are important. They can help you determine how well your business runs—and improve your efficiency. Instead of biting your nails at the thought of them, you can stop worrying entirely. All you have to do? Hire the Todd Greene team! After all, one of the fundamentals of business audits is having knowledgeable professionals on your side.

Contact us here for your free consultation. Finally, learn more about what we do—and how to improve your financials—when you read our blog.

27 08, 2021

The Employee Retention Credit: How It Can Help Your Business

2022-05-09T20:38:02+00:00August 27, 2021|0 Comments

Well, 2020 sure was one for the books! And, it looks like 2021 will have a similar streak. However, you—and your employees—don’t have to go through it all alone. In fact, by using the Employee Retention Credit when doing your taxes, you can give your business some help. Wondering what it is or how it works? We’ll go into detail below.

About the Employee Retention Credit

The Employee Retention Credit works as a refundable tax credit. Essentially, the credit can be applied to specific employment taxes.

Still don’t get it? The quick and easy definition is that this refundable credit helps your business keep paying its staff.

The details

Here’s how the Employee Retention Credit works:

  • Businesses are eligible to receive the ERC and Payroll Protection Program (PPP), but wages eligible for the ERC cannot be paid with PPP funds.
  • For tax year 2021, the credit is 70% of qualified wages paid per employee, at up to $28,000 a year.
  • For tax year 2020, the credit is up to 50% of each employee’s qualified wages, at up to $5,000 for the year.
  • Employers with 500 or fewer full-time employees can apply the ERC towards all qualified wages paid to employees during those quarters.

How do I know if my business is eligible?

Two different factors will determine whether or not employers receive eligibility. As mentioned above, you must have one or both of these factors impacting your business during the quarter you want to apply the credit.

The first eligibility factor is marked by a significant decline in gross receipts. That exact percentage is a 50 percent drop or higher. You must compare a quarter in the current tax year to the same quarter in the previous year.

The second occurs when your business must deal with partial or full suspension of its operations, on account of a government order.


We have a couple questions for you now! Do you meet one or more of these qualifications? Or are you still unsure? Contact Todd Greene, so we can help you determine if your business qualifies for the Employee Retention Credit. Not to mention, we can also help with your financial planning too! Learn all about our services here.

28 07, 2021

10 Things You May Not Know About Todd Greene

2021-07-26T16:59:21+00:00July 28, 2021|0 Comments

It is time to shake the stuffy CPA suit stereotype and actually get to know each other! We pride ourselves on many things. So, we thought we would share these 10 things you may not know about Todd Greene.

We do more than taxes.

To clarify, we do offer income tax preparation services. However, we do much more than taxes too (read on to learn more).

We work with small and large businesses.

It takes tons of time and effort to manage a business! We understand how hard it can be to keep up with all the details. One of the things you may not know about Todd Greene is we can help lighten your workload while improving your business.

We help new businesses get started.

We can assist with the step-by-step process from business development and growth and management, to budgeting and tax planning—we are ready! Are you?

We are local QuickBooks professionals.

Todd Greene is a proud member of QuickBooks ProAdvisor Program. We can ensure you quickly set up this useful tool correctly from the beginning. Plus, we can help manage and utilize it moving forward.

We offer assurance services.

What are assurance services? Basically, it covers a broad scope of tailor-made procedures, including audits, reviews, compilations, and other agreed-upon procedure services to assure all parties financial information is presented fairly.

We take a hands-on approach.

Whether you are a high net worth individual, small business owner, larger company or fall somewhere in between, Todd Greene clients receive personal attention throughout the year. We channel our creativity and expertise and offer recommendations and solutions before items become issues.  We like to meet with our business owners face to face to discuss their current tax outcomes, and provide suggestions to improve those outcomes.

We are good listeners.

The first step in any good relationship is to listen to your partner. We pride ourselves in establishing long-standing professional relationships because we hear what our clients have to say.  We actually talk and listen to our clients!

We have been established in Charlotte for more than 12 years.

Charlotte is home. This is our town and community. Building and maintaining trust has been at the forefront of our business practices from the beginning.

We are social!

One of the fun things you may not know about Todd Greene: we are social butterflies!

Find us on Facebook, Instagram and LinkedIn.

We offer free consultations.

We have a wealth of knowledge and expertise on-hand and on-staff. We love sharing information with others from cash flow to process improvements! Click here to schedule your free consultation.


To summarize, we have one main goal—our clients! We put people first. We care because your success is our success. Contact us to schedule an appointment or call us at 704-919-3220. Together we will take care of business!

To find out more about us and for additional financial news, keep reading!

28 06, 2021

9 Tips for Being Proactive About Your Business’ Tax Planning

2021-08-25T17:04:19+00:00June 28, 2021|0 Comments

Owning and operating a small business is exciting, but with so many moving parts, it’s good rule of thumb to plan ahead. This includes your business’ finances. These helpful tips for being proactive about your business’ tax planning will save you time and money in the long run.

The sooner you get organized, the better.

This entails understanding the basics of the federal and state tax laws applied to businesses. Be prepared for and aware of what and when specific taxes are due. Know what you can deduct and what you should track.

Create a calendar.

Use a calendar to highlight all those important tax dates and deadlines. For example, a tax calculator lets you input each date payroll deposits are due. You can include filing deadlines for W2s and 1099s as well.

Make a payment plan.

Consider making quarterly payments rather than a large yearly lump sum. However, you may need to pay estimated tax payments to avoid penalties at the end of the year.

Maintain good records!

This is a one of the best tips for being proactive about your business’ tax planning. Save all receipts that relate to business expenses throughout the year. Keep track of all income statements and balance sheets too.

Deduct your home office.

Now more than ever, we are working from home. Did you know you can calculate the square footage of your home-work space and deduct a portion of the expenses? This includes expenses like utilities, computer equipment and mortgage interest payments, for example.

Deduct car expenses.

Again, this circles back to keeping meticulous records. It also involves a little calculation like the home office. Figure out what percentage of car use is business and deduct it from your overall car expenses.

Start a retirement fund.

There are certain IRA accounts and retirement plan contributions that are tax deductible. Best way to know? Work with a tax expert.

Consider charitable contributions.

Being socially responsible pays off. Besides adding meaning to your company’s core values, getting employees involved in giving back is smart business. In the end, you will qualify for specific tax breaks.

Hire a professional!

We saved the best out of our tips for being proactive about your business’ tax planning for last! Business owners are responsible for filing and paying taxes properly. Rather than stress and possibly miss something, let the professionals (us) handle your tax planning all year long!


Todd Greene are the professionals your small business needs. From knowing the current tax laws to creating a tailored tax plan for your business, we start by meeting with you. We continue to meet with you throughout the year and together manage your business’ financials.

For more helpful tax tips, advice and general information about our services, continue to read our blogs!

28 05, 2021

7 Accounting FAQs for Small Business Owners

2021-08-25T17:04:25+00:00May 28, 2021|0 Comments

To us, every small business is a big deal! That means we strive to give each business—and their owners—the best possible service. So, if you ever have any questions, we aim to provide all the answers. In fact, we’ve compiled another resource for you: this list of accounting FAQs for small business owners. Read on to learn more!

Q. Why choose a live accountant over filing software?

A. Tech can be smart—but it doesn’t have the same critical thinking skills or the nuance that we do. You want someone who can pore over your files in detail. Not to mention, if you have questions, an accountant can explain the answers—like we’re doing now. Plus, unlike software, we actively want to give you the best possible service—and we’ll go the extra mile to do so.

Q. What records should I be keeping?

A. One of the biggest accounting FAQs for small business owners involves records. As a small business owner, the standard records you keep should include:

  • Payroll statements;
  • Credit card statements;
  • Rent check records for your office or retail location, if applicable;
  • Inventory;
  • Accounts receivable;
  • Accounts payable;
  • Sales systems;
  • Software;
  • Receipts for purchases and expenses; and
  • Bank statements.

Remember: it’s better to store more records than you need, as opposed to fewer. Also, as a general rule of thumb, it is recommended to securely maintain all records for at least the last seven years that tax returns have been filed.

Additionally, you can also scan them to create digital copies just in case. If you require assistance, we can explain exactly what you’ll need to preserve for your tax planning services.

Q. How often will I be able to meet with my accountant?

A. Unfortunately, clients generally only meet with their accountant once a year. However, we like to meet with our business owners from one to three or more times a year after mid-year to ensure we can minimize taxes. After all, our main goal is ensuring that you have the tools to succeed.

Q. Can accounting services improve my earnings?

A. Yes! And we’ll tell you why. Some tax planning professionals—like us—will create year-end projections for their clients. Those projections will show you the profits you make and the losses you incur over time. They’ll also compare them with the money put toward the people you employ and the goods you buy. That way, you can learn what strategies work—and which ones need refining.

Q. Is my contract cost due all at once?

A. Paying bills in one go can cause unnecessary stress! Some CPA firms may expect the contract cost in a single payment—but not us. We will happily work with you to create a workable contract payment schedule—including an affordable monthly plan.

Q. Do I need to know what expenses apply for tax deductible status off the top of my head?

A. Nope! No need to worry—your accountant will have the information you need. Since this area changes frequently, we make it our business to stay current. Just remember to keep documentation of purchases and expenses at the ready.

Q. Can Todd Greene work with my small business?

A. Absolutely! We work with small business owners throughout the year to provide tax planning services, year-end projection calculations, and custom-tailored advice.


Asking questions creates a strong foundation for future success. If you have queries beyond these accounting FAQs for small business owners, let us know! We’d love to fill in the blanks—and to assist you with your tax planning and preparing needs. For more on our services—and how they work—visit our blog. As for getting started on your services, call us at 704-919-3220 or contact us here for a free consultation.

30 04, 2021

Welcome to the Todd Greene Blog

2021-04-29T14:34:26+00:00April 30, 2021|0 Comments

When it comes to selecting an accounting team, we know you’ve got plenty of options. Exceptional experience, extensive industry knowledge and a trust-based philosophy, however, may be harder to come by. As a full-service certified public accountant in Charlotte, North Carolina, we feel confident in our ability to not only meet your financial expectations for your business—but exceed them! As an extension of our service to our clients, we’d like to introduce you to the Todd Greene blog. Welcome!

About Todd Greene  

With a collective wealth of experience in the financial industry, the Todd Greene team is committed to providing unmatched service when it comes to tax, accounting and consulting services for individuals and businesses throughout the United States. Representing clients across a variety of business verticals, we take pride in using our money-saving expertise to help them reduce their expenses and increase productivity.

At Todd Greene, we’re in it with you for the long haul. Our MO involves developing longstanding relationships with our clients—one in which trust and mutual respect come standard. The end goals? To help your business operations run smoother, to organize your finances more efficiently and most importantly—to improve your overall quality of life.

The Todd Greene blog 

We truly care about connecting with our clients, and the Todd Greene blog is another way to do just that! The blog will serve to better acquaint customers with our brand and what we stand for. Through the blog, we will provide information that serves to both educate as well as entertain—in an effort to provide more value to our followers.

Follow the blog for industry insights and to learn about the culture of the Todd Greene team. We encourage you to share the blog with others who may find it useful. We also ask that if there is ever a topic you’d like to see addressed on the blog, do not hesitate to reach out and let us know!


Once again, we’d like to say welcome to the Todd Greene blog! Browse our services here on the website, and be sure to follow us on Facebook, Instagram, and LinkedIn to stay up-to-date with everything we have going on.

31 07, 2020

July Cares Act Update

2022-09-28T19:21:19+00:00July 31, 2020|0 Comments

As you may be aware, the Paycheck Protection Program that was passed into law earlier this year has seen some major changes since the law has passed. Remember, initially, you could borrow up to 2.5 times your average monthly payroll, and then utilize the proceeds for payroll for 8 weeks, rent, lease payments, and utilities. If you did utilize the proceeds for payroll over the next 8 weeks, and no more than 25% of the proceeds were used for rent, utilities, and lease payments, the loan would be considered forgivable, and therefore, you would not have to pay it back.

A couple of weeks ago, the SBA issued the Paycheck Protection Program Loan Forgiveness Application. It is highly convoluted, and we are looking into what it would cost for us to assist our clients with it. Please let us know if you have interest in us completing this application on your behalf. Click here for the application.

Regardless, below are some highlights of H.R. 7010 (THe Paycheck Protection Program Flexibility Act of 2020) that was passed into law this past Friday.

Since then, the IRS has issued guidance that although the loan forgiveness would not be considered taxable, any deductions paid from the proceeds would not be deductible. In effect, this would mean that the PPP loan would be taxable income. Our hope is that Congress was going to address this, but H.R. 7010 does not address this, and it doesn’t seem likely at this point that it will be addressed. A link to H.R. 7010 is below.

1. Unforgiven PPP loans maturity will now be over 5 years, instead of 2.
2. You can now apply for a PPP loan up until December 31, 2020. Previously June 30, 2020 was the deadline.
3. The 8 week period covered period has been extended to 24 weeks, but no later than December 31, 2020. 4. This changes the amounts that can be utilized for compensation from an 8 week period to a 24 week period, although you can elect to utilize the 8 week period if you received your loan proceeds before June 5, 2020. This also means that more compensation will be eligible to be used from PPP loan proceeds.
5. Non-payroll Costs may be up to 40% of the loan amount, up from 25%.

We understand that these are confusing times, so please contact us if you have any additional questions or concerns.

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