Payday is a day of rejoice for your employees. For many small business owners, however, payday spells out an extended workday full of number crunching and hair pulling. This frustration is only compounded by the possibility of payroll mistakes leading to steep penalties. If only it were as simple as writing a check or authorizing a transfer of funds, you could free up hours to dedicate towards actually running your business. Fortunately, a payroll service can be the fulfilling answer to all of these troubles.

There has been so much chatter about America being in a Recession or for sure a Recession is coming.  This often times goes over a lot of heads.  Who even knows what a Recession is really?  Most of us are focused on keeping over inflated food on the table, making sure we have enough high-priced gas to get to the next paycheck, or preparing for kids to go into the next school year.  So, when we are hit with this conversation the chatter seems very distant.  Often times our willful ignorance can get the best of us.  Do we know if there is a way to prepare for a Recession?  These are the questions everyday citizens would like to know.  But if you are living from paycheck to paycheck is there a such thing as preparation for a Recession?  Do you remember the last time we were in a Recession?  It was not too long ago and that does not make us any more prepared for what is to come.   

As 2022 winds down, it’s a great time to take a look at the year as a whole and begin to set your goals for 2023. Tax Planning is something that you should definitely be doing as 2022 closes. The proper tax planning can help you pay the least amount of taxes that you can.

Do you have a financial plan?  If not, what are you waiting on?  Financial planning is equally vital to individuals as well as business owners.  If you have income there is always the thought of what you have to do versus what you want to do.  So many questions to answer should you create a budget, seek professional help or the alternative which is keep doing what you have been doing.  Well with the market as it is today it would be wise to make sure to plan and strategize for the unexpected. 

Tax planning is always important for individuals and businesses, it is possibly more important than ever before this year. There are hundreds of rules, laws, and techniques to delve into regarding tax law and incentives. Let’s start with the basics – what is tax planning? Essentially, it’s the financial assessment and arrangement of an individual and/or business to capitalize on tax savings and minimize tax liabilities. Tax laws are increasingly complicated, so we advise consulting a tax advisor for questions or concerns for the tax year.