There comes a time for most business owners when staying on top of the business’s finances yourself becomes too much to handle in addition to all of their other duties. Working with a business accountant, whether it’s someone you hire directly to your team or a third-party accountant you work with on an ongoing basis, can provide a lot of value to your company and help you place your focus on other areas of your business, where you are more needed. But how can you narrow down your search to choose a business accountant in Union City, NJ who is... View Article
When you’re starting up a brand-new business, you’ll have a variety of options with regard to the official structure you’ll use for your fledgling company. Two of these options are DBAs and LLCs, and for new entrepreneurs, there might be some confusion concerning the differences between the two. Read on for some helpful DBA and LLC filing facts for Union City, NJ entrepreneurs. DBA is short for “doing business as.” Such a structure allows for a business to operate under a name that is not the same as its legal name. For example, if Bill Johnson wants to start up... View Article
As the owner of a company, it is crucial that you have a certain level of comfort with the state of your finances and that you plan for your financial future. But is it worth your while to hire a small business accountant in Union City, NJ? One of the first decisions you’ll need to make when starting a company is figuring out who will handle your finances. You can try to take on your company’s financial management tasks yourself, but you will quickly find out that this is a bad idea for anything beyond a sole proprietorship, and even... View Article
As an accounting firm in Union City, NJ, we receive a lot of questions from clients based on inaccurate information and common myths. Unfortunately, too many people fall victim to these prevalent misconceptions, causing them to incur fines or undergo audits from the Internal Revenue Service. Rather than experiencing these terrible inconveniences, learn more about common tax myths and how to avoid them. You don’t have to file taxes In the Form 1040 instruction book, the IRS describes our nation’s tax system as “voluntary,” which causes quite a bit of confusion. Many interpret this to mean that filing taxes is... View Article
If for whatever reason you are unable to pay the full balance of your taxes by the original deadline, you’ll have to pay interest on that balance and monthly late payment penalties, which is why it’s so important for you to pay in full as soon as you can to save yourself some money from these additional charges. However, if you’re not going to be able to pay off your balance in full right away or within 120 days after the due date, you might qualify for a monthly installment payment plan. You must apply for this plan using Form... View Article
