Looking to learn how to read a tax return and tax forms like a pro? If so, you’ve come to the right place. We understand how preparing your individual tax returns can be a daunting, challenging and downright intimidating process. Execution of this mandatory financial undertaking requires a significant degree of focus, legwork, and comprehension. The slightest […]
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You don’t have to own a business or be wealthy to want to learn how to hire an accountant for taxes. In fact, if you’re like most people, the entire process of preparing, planning, and filing your taxes is too confusing and stressful. On the other hand, if you’re facing a potential problem, like an IRS […]
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We get it: trying to decipher the differences between 1099 vs W2 employees for small businesses can be confusing. However, it’s critical you have at least a basic understanding of how to classify different workers. Even if you use an accountant or a payroll service to manage your payroll, it behooves you to understand the relationship. […]
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In life, everything must be balanced; and the advantages and disadvantages of cash flow forecasting are no different. Cash flow forecasting is the process of estimating the future financial position of your company. As a core component of planning and financial management, cash flow is a powerful business KPI primarily based on your projected receivables […]
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As a small business owner, the end of the year isn’t just a time where you can croon Auld Lang Syne over Champagne! Instead, there are seemingly countless things you must do, which is why having a year-end checklist for small businesses makes dollars and sense. At John F. Dennehy CPA, we completely understand there are […]
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If you’re a business owner, you have a lot on your plate and utilizing the best small business budgeting tips may not be at the top of the pecking order. However, it should be! Your ability to develop a small business budget is critical to virtually everything you do. Let’s take a look at a […]
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When most people hear the word “audit,” red flags go up; and their minds automatically jump to the dreaded Internal Revenue (IRS) audit. Yes, the IRS is a type of audit, but it’s not the only audit you should be prepared face. Many businesses, especially larger ones, regularly conduct internal audits to make sure their books […]
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Whatever your short-term and/or long-term goals, every startup business needs to know how to forecast revenue for a new business. Financial forecasting will help you have a clearer picture of the steps you should take today to help your business achieve its goals. At the same time, if you ever need more funding, your financial […]
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As a business owner, you have no shortage of tasks and responsibilities vying for your attention, so it’s critical you know which small business KPIs (key performance indicators) are the most impactful. The right small business KPIs will help you determine if you’re dedicating too much time, effort, and money on something that doesn’t offer […]
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Common bookkeeping mistakes can easily drive business owners crazy! Similar to common tax mistakes for small businesses, bookkeeping mistakes can be expensive and have long-running implications. Instead of falling victim and dealing with the ramifications, the experienced accounting experts at John F. Dennehy CPA have you covered! We are a team of professional accounting specialists […]
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