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Bookkeeping Tips for Creative Bosses

So you ditched the 9-to-5 to be your own boss?  #Respect! But hold on to your unicorn mug – running a business is more than just following your passion (although that’s pretty darn important too).  You gotta keep your finances in check, or your dream career could turn into a nightmare. That’s where bookkeeping comes […]

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Understanding the Roles of Bookkeepers and Accountants

Ever feel like your finances are a jumbled mess of receipts and bank statements? Yeah, us too. Running a business is awesome, but the money side can get confusing fast. Enter bookkeepers and accountants – your financial superheroes here to save the day (or at least tax season)! But what’s the difference between these two?

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The Hidden Costs of “Going Cheap” on Your Taxes and Finances

Have you ever gotten a quote for a service and thought, “Wow, that’s expensive!” only to realize later that the initial sticker shock masked a deeper truth? This happens a lot in the world of accounting and taxes. In today’s post, we’ll share a real-life scenario to illustrate why the true cost of doing your

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It’s Time for Your Mid-Year Financial Check-In!

Hey there! Believe it or not, we’re halfway through 2024 already. Now’s the perfect time to take a pit stop and assess your financial health. Here’s how to make it a breeze: Think of this like tidying up your financial desk. Are your receipts organized? Are your bank statements reconciled? Having everything categorized and up-to-date

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Follow Marie Kondo Method for your Business

Do you ever feel like your finances are cluttered and chaotic? You’re not alone. Many business owners struggle with bookkeeping, feeling overwhelmed by complex systems and overflowing inboxes. But what if managing your money could be simple and even joyful? Here’s how to apply the KonMari method, popularized by organization guru Marie Kondo, to your

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What It Looks Like to Work With a Bookkeeper

Keeping your business finances organized can feel overwhelming. You might be wondering what a bookkeeper does and how they can help your business. This post will explain what to expect when you hire a bookkeeper and the value they can bring to your company.   What Does a Bookkeeper Do? Think of a bookkeeper as

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Business Mileage: Everything You Have To Know

Do you drive yourself to work? If so, you might be thinking about additional expenses such as parking fees, gas, etc. Here’s some good news for you! You can log your mileage and get your tax deducted! You can now drive to work with the music blasting in the background without worrying too much by

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Having Tax Problems Because of Misclassified Workers? Here’s Section 530 To Solve It For You

The IRS and companies frequently disagree on whether workers should be classified as employees or independent contractors. Many firms prefer to characterize their personnel as independent contractors, but the IRS often considers them misclassified employees. Sometimes the matter ends up in court. Fortunately, companies may acquire some protection if the IRS contests the categorization of

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The S-Corp Tax Election and What it Can Mean to You!

Of all the business entities someone could form, the S corporation is by far the most misunderstood. This is because the S-Corp is a tax designation rather than an actual business entity. Both limited liability companies (LLCs) and corporations can file to be taxed as an S corp. However, no state offers entrepreneurs the option

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Taxes for Military Personnel

With Veterans Day approaching, we wanted to dedicate this month’s blog post to our military men and women. We salute and honor you this month and thank you for your sacrifice. Whether it be sacrificing time with your family, or putting yourself at risk, BASC Expertise wants you to know that we are thankful for

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