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Financial Planning Insights

Common Tax Mistakes Startup Businesses Make

By The Chandler & Knowles Team | | 0

There are a million little nuances when it comes to business tax law. Each one of these can make a big difference in if you owe, and if so, how much. Startup businesses especially are prone to miss deductions or to misinterpret regulations. This is true when it comes to calculations as well. To help navigate these muddy waters, Chandler &..

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How Small Businesses Can Manage Cash Flow During COVID-19

By The Chandler & Knowles Team | | 0

COVID-19 has changed the way many small businesses operate. Depending on the type of business you have, you may have had to shut down while the country was in lockdown. If you operate an essential business, you have been able to stay open, but not without significant operational changes—which can affect your cash flow in COVID-19 times. Having..

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How to Prevent a Small Business Tax Audit

By The Chandler & Knowles Team | | 0

Filing a tax return can be a frustrating, anxiety-inducing task. Many small businesses struggle to keep up with tax deductions, income, and understanding how certain indirect costs can be claimed. Tax filing is scary not only because of that but also because everyone is afraid they are claiming something they shouldn't and a tax audit might..

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Small Business Tax Preparation Checklist

By Chandler and Knowles | | 0

It's that time of year - tax time! A major component of proper and timely filing of your small business tax return is getting organized. Many small business owners are not ready when tax time rolls around and a tax preparation checklist can assist with knowing where to start.

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Financial Reporting Best Practices for Small Businesses

By The Chandler & Knowles Team | | 0

Owning a small business has its rewards but the details can become time-consuming and cumbersome. Understanding all of the rules of financial reporting is a daunting task that can be costly if mistakes are made. However, the good news is that using best practices to record your financial accounting can help you grow and improve your business...

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Common Misconceptions of the Home Office Deduction

By The Chandler & Knowles Team | | 0

As a small business owner, chances are that you have an office at home where you work into the wee hours of the morning. Your small business can take up a great deal of time to manage successfully and a home office is one way that you can still be at home to have some family time.

The additional time at home is just one advantage of your home..

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Startup Business Tax Deductions

By The Chandler & Knowles Team | | 0

Congratulations on starting your new business. With all the things that are involved in starting a new business, you may not have had the time to consider all the tax ramifications of a startup business. The IRS categorizes startup costs as those related to the research that went into the formation of your business and then the actual formation..

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The Keogh Plan: Navigating Retirement Investing

By The Chandler & Knowles Team | | 0

If you are a small business owner looking to create an investment program for yourself and your employees, a Keogh Plan may be a good option. Keogh Plans were invented by Eugene Keogh in the 1960's. Designed specifically for the self-employed, the plans have since then become somewhat obsolete with SEP-IRA plans being the preferred choice. Due..

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Guide to Cryptocurrency for Your Small Business

By The Chandler & Knowles Team | | 0

Is cryptocurrency a viable payment or investment opportunity for your small business? What exactly is cryptocurrency? Simply put, it is an online digital currency, protected by strong cryptography, without a central authority or regulator. The key innovation that makes this possible is blockchain technology. Blockchain is a public ledger..

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Best Practices for Small Business Bookkeeping

By Chandler and Knowles | | 0

Owning a small business can be very time-consuming and stressful. Keeping your financial records in order is vital to the success of your business. Here are a few small business bookkeeping tips to save you from getting overwhelmed by the day-to-day tasks that can help you to succeed.

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Chandler & Knowles CPAs is dedicated to serving our clients with an integrated approach to financial success for businesses, families and individuals. Our knowledgable team is committed to providing you with the most detailed information to answer your biggest financial questions and to help make your life less taxing.

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