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tips for small business owners

28 11, 2022

Shifting Our Focus to Small Business Tax Planning at Todd Greene, CPA, PLLC

2022-11-22T21:15:29-06:00November 28, 2022|0 Comments

Big things are happening around our office! One of those things involves a shift in focus specifically to small business tax and tax planning at Todd Greene, CPA, PLLC, to better serve our growing client base. With that comes the hiring of two new team members!

A new direction

Our company is focusing on a new direction, which is small business taxes, tax planning, and shorter turnaround times.

With the 2022 tax filing season right around the corner, we are getting ahead of the game now! To ensure a smoother tax season, we have hired two new team members.

Please join us in welcoming Angie Heidel, operations manager, and Jackie Salazar, bookkeeper.

Meet Angie Heidel

Originally from Michigan, this mom of two shifted gears with a recent career change of her own. She has lived in the Carolinas for 15 years and primarily worked as a listing manager in real estate, handling the operations side of things.

Now, at Todd Greene, CPA, PLLC, Angie will help us organize and track our client files while managing our day-to-day operations.

In her spare time, Angie enjoys traveling, watching her kids play sports, being active, cooking and watching football.

Meet Jackie Salazar

Jackie is a multi-tasking wizard. Not only is she working toward earning her bachelor’s degree in finance and accounting, she is also working toward a master’s in business administration. Currently, she helps provide excellent customer service and assists our team in gathering all the information and documents needed to prepare clients’ files.

Soon, she also will be teaching our clients how to use QuickBooks and analyzing data to help provide potential solutions for an improved workflow for us and our clients.

Jackie said joining Todd Greene, CPA, PLLC has taught her a wealth of valuable information. “I am so happy to be part of the team,” she said recently.

More about tax planning

With our new focus and team members, small business tax planning at Todd Greene, CPA, PLLC, is our top priority!

We will continue to take the same proactive approach to tax planning, which means going beyond “tax season.” We work with our clients all year to create a custom plan that will effectively manage tax obligations. What’s more—we’re always committed to pinpointing opportunities to save our clients money on their taxes, which we believe is especially important for the small business owner.

Summary

When it comes to small business tax planning at Todd Greene, CPA, PLLC, it all starts with a free consultation. From there, strategic tax planning—and a better understanding of your taxes—begins. To find out more about us, our team and our services, continue to read our blogs!

28 10, 2022

8 Funding Options for Small Businesses

2022-10-27T21:36:29-05:00October 28, 2022|0 Comments

Starting and maintaining your own business is no easy task. Money—or lack thereof—can be a major issue. When it comes to funding options for small businesses, here are eight viable options to consider.

Banks

Banks are good funding options for small businesses that usually offer competitive terms and low interest rates. However, bank loans can be hard to qualify for.

Qualified applicants could receive typical business loans, equipment loans or commercial real estate loans, for example.

SBA loans

SBA loans are federally backed, which makes them less risky for lenders to lend you the capital. What’s more, the interest rates tend to be low, and there are multiple types of SBA loans.

On the other hand, SBA loans may require a down payment or collateral up front. They can also take a long time to process.

Credit cards

Applying for a business credit card can be a good option if you are looking for short-term funding needs. Business credit cards typically have higher credit limits than personal credit cards.

The catch is paying off the debt before the interest begins to accrue.

Grants

Next among funding options for small businesses is free financing in the form of grants! Grants can be issued from government agencies, corporations, nonprofits and economic development groups.

Funding varies along with the qualifications and application process. The application process can also be competitive.

Equity investors

Equity investors, or individuals, could support small businesses by purchasing shares of the company. Investors generally enjoy some sort of financial gain or return for a specific amount of time.

Crowdfunding

Is your product a crowd-pleaser? If so, crowdfunding is an option worth considering. GoFundMe is an example of a crowdfunding platform. Often, it’s a way of receiving capital without racking up debt.

It gives businesses a chance to test their product while also increasing brand awareness.

Online lenders

Before moving forward with online lenders, do your research. Take your time to find the right fit. Compare lenders, look at reviews and read the fine print.

Make sure you understand the actual cost to your business in terms of fees, interest rates and other possible penalties.

Credit union financing

Credit union financing is similar to funding for banks, but it’s usually just for members. Credit unions offer favorable rates and loans backed by the SBA.

Besides a typical loan, they can offer lines of credit as well as business credit cards.

Summary

Are you ready to launch your own business? Hopefully, these funding options for small businesses will help you get started. For additional help when it comes to business planning, schedule a free consultation with us. For more financial news, keep reading our blogs.

29 11, 2021

An End-of-Year Checklist for Small Business Accounting

2021-12-02T20:07:53-06:00November 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.

Summary

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.

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