Do you know the questions to ask a Long Island NY tax accountant during the consultation before hiring them? Just as you would screen any potential employee and ask questions about their experiences, it’s imperative to do the same with a potential accounting firm.In either case, many factors can affect your decision, including how much […]
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As a self-employed professional or business owner, paying estimated taxes quarterly on your business income provides many benefits. When you earn money over the course of the year as a self-employed business owner, the government requires that you pay taxes, so that they can collect revenue from your earnings.One of the best ways to pay […]
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As if taxes weren’t already confusing enough, cryptocurrency trading adds a new, complex dimension. Fortunately, John F. Dennehy CPA has created a simple cryptocurrency tax guide you can actually understand. Let’s take a closer look at the crypto tax guide. And if you would like more personalized guidance and tax-saving strategy assistance, don’t hesitate to reach […]
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As a business owner, you have a lot to consider. But if you’re not taking advantage of our top five overlooked and little-known tax write-offs, you could be missing significant opportunities. In fact, you could be overpaying in taxes and giving Uncle Sam funds that could be reinvested into your business. In either case, a tax […]
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When it comes to your taxes, it’s important to understand the impact of long-term vs short-term capital gains tax. This distinction is key because the Internal Revenue Service taxes each type of income at different rates. Certain types of capital gains, such as those from the sale of stock or mutual funds you have had for […]
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Choosing an accountant is a big deal, so it’s critical you know the top questions to ask your accountant. Contrary to popular belief, accountants are not one-size-fits-all. This means it’s important to work with an accountant who has experience working with businesses similar to yours. And once you find a potential candidate, you can dive […]
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Cash flow and profit are two important financial parameters for determining the health of a business. Many business owners are eager to look at financial statements in order to determine how to plan ahead, but they often get mixed up on how to properly interpret financial data. One of the most common questions is, “Should I […]
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As a business owner, it’s imperative you use every tool at your disposal to improve your expense tracking strategy. However, it’s often easier said than done. Expense tracking or expense management is the process and systems you have in place to request, authorize, and pay expenses. Whether the expenses are travel-related, entertainment, or any other business-related […]
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Whether new opportunity presents itself or you’re just looking for a change of scenery, understanding how to move your business to another state may be a critical part of your process. And if it is, the team at John F. Dennehy CPA can and will help. We are a knowledgeable team of CPAs, accountants, and business […]
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If you’re self-employed or a small business owner, chances are bookkeeping isn’t something you got into your profession to do. Nevertheless, as you start to earn more money, small business expense tracking should become an ever more critical part of your everyday routine. If you’re waiting until tax season to be concerned about small business expense […]
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