Throughout the year life happens and things go unchecked all the time. Especially when it comes to updating your employer about your filing status for taxes when a life event happens. However, understanding what filing status you should be claiming is where you should first start. Â There are hundreds of questions when it comes […]
Knowing Your Filing Status Going Into 2020 Read More »
Accounting: Crowdfunding websites such as Kickstarter, GoFundMe, Indiegogo, and Lending Club have become increasingly popular for both individual fundraising and small business owners looking for start-up capital or funding for creative ventures. The upside is that it’s often possible to raise the cash you need but the downside is that the IRS considers that money
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Confused about which credits and deductions you can claim on your 2016 tax return? You’re not alone. Here are six tax breaks that you won’t want to overlook. 1. State Sales and Income Taxes Thanks to the PATH ACT of 2015, taxpayers filing their 2016 returns can deduct either state income tax paid or state
Six Overlooked Tax Breaks for Individuals Read More »
Do you know the difference between accounting and bookkeeping? When many small businesses open up, the owners sometimes use those terms interchangeably but they do have noticeable differences. In your small business, you have to keep up with both functions. Here are the differences between accounting and bookkeeping:  Bookkeeping is the process of the record-keeping of all financial transactions
What is the difference between Accounting and Bookkeeping? Read More »
Every business regardless of size needs someone looking after their finances. Otherwise, there is no way of knowing what the organization is spending money on and more importantly, which areas of spending are providing a good return on investment. Some smaller businesses and entrepreneurs do their own bookkeeping, but this is not always recommended, unless
Questions to Ask Before Hiring Your Next Bookkeeper Read More »
As experienced business owners and bookkeepers, we have worked with multiple small business owners, partnering with them to help make their endeavors successful ones. We’ve learned there are fundamental items that successful business owners incorporate into their daily practices that less successful owners may not.If you are looking to expand your business and increase your
Steps To Take In 2013 To Make Your Business More Successful Read More »
Self-employed individuals enjoy unique benefits, but they also have the burden of proving to the Internal Revenue Service that the expenses claimed are legitimate. Business owners need to keep proof of the expenses as well as a business record that backs up the need for that particular expense. Your accounting professional will also tell you
Self Employed Individuals Must Track Business Expenses Read More »
The accounting professionals at BASC Expertise work with entrepreneurs on a regular basis. We are involved with entrepreneurs from the formation of the business entity, formulation of a business plan, accounting and bookkeeping services, and annual tax preparation. When it comes to formulating a business plan, we offer seven items that need to be considered
Seven Items To Include In Your Business Plan Read More »
Starting a new business is an exciting time, but is also one that needs to be undertaken with care and consideration in order to make it a successful, thriving enterprise.
7 Considerations For Starting A Small Business Read More »
Taking the time to have your paperwork in order will not only make your accountant’s job simpler, it allows you to track items throughout the year. Entrepreneurs need to be cognizant of the need for precise record keeping, especially if they find the need to seek financing.
Year-End Financial Wrap Up Plans For Business Owners Read More »
BASC Expertise
3303 E Baseline Rd, Suite 107 Gilbert, AZ 85234
