Accounting Services Archives - Page 4 of 5

Tax Resolution – What is it?

January 18, 2023 | Accounting Services

It happens all the time. You come home from work and you walk to the mailbox and pull out a stack of envelopes. You look through shuffle through the many pieces of junk mail and then you stop dead in your tracks. It’s a letter from the dreaded Internal Revenue Service. Fear grips you. Your heart starts racing. Your hands get sweaty. You wonder if you should even open the letter and read it. Surely if I ignore it, it will go away – right? Wrong. Over 15 million taxpayers in the United States have tax issues with the IRS. While the prospect of having to deal with such a big and powerful government agency is daunting, it doesn’t have to be. Contrary to popular belief, the IRS is very willing to work with taxpayers to resolve tax debts in and amicable way. Whether it is an audit, back taxes owed, … Continued

How Payroll Management Can Help Your Business Grow

December 15, 2022 | Accounting Services

If you’re like most business owners, you probably dread the thought of payroll management. After all, it’s a complex and time-consuming process that can be very frustrating. But did you know that payroll management from Edgewater CPA Group can actually help your company in many different ways? Let’s take a look at just how we can accomplish this.

5 Common Bookkeeping Mistakes

October 15, 2022 | Accounting Services

Small business owners are often overwhelmed with the task of bookkeeping. The responsibility of tracking income and expenses and ensuring that all financial records are accurate can be daunting. However, making mistakes in your bookkeeping can have severe consequences for your business. So, let Edgewater CPA Group help you avoid these five common mistakes that small business owners make in their bookkeeping.

5 Steps to Preventing Expense Fraud

August 15, 2022 | Accounting Services

According to a recent study, businesses lose an average of 5% of their annual revenue to expense fraud. That’s a lot of money! Thankfully, Edgewater CPA Group is here to help you mitigate this risk through expert accounting services. So, let’s look at five steps you can take to prevent expense fraud in your business.

Control Accounts: What They Are and Why You Need Them

August 1, 2022 | Accounting Services

If you’re running a business, it’s important to understand accounting concepts well. One key concept is the purpose of control accounts. These special accounts are used to track and report the financial status of specific areas or divisions within a company. But how does this apply to your business? Edgewater CPA Group discusses this and why you need control accounts to manage business finances effectively.

Avoid These 3 Costly Small Business Tax Mistakes

July 1, 2022 | Accounting Services

As a small business owner, it’s important to stay on top of your taxes and make sure you’re not making any costly mistakes. If you’re not careful, you could end up paying more in taxes than you need to or even getting audited by the IRS. When you turn to the team at Edgewater CPA Group, we can help mitigate your chances of this happening. Still, let’s look at three common tax mistakes that small business owners often make and how to avoid them.

How to Succeed as a Small Business

June 1, 2022 | Accounting Services

Small businesses are the backbone of the American economy. They provide jobs and support local communities. However, starting and running a small business can be challenging. There are many things to consider, from marketing and sales to operations and finance. Edgewater CPA Group‘s clients are always hearing ways their small businesses can fail, so, we wanted to look at ways to succeed. Follow these tips, and you will be well on your way to building a successful company!

What Does an Accounting Controller Do?

April 1, 2022 | Accounting Services

An is responsible for overseeing all financial aspects of a company. This person manages the budget, tracks expenses, and ensures that the books are in order. Additionally, a controller may also be involved in tax planning and forecasting. As important as their job description may sound, very few small businesses have the resources to employ this person in-house. So, they turn to Edgewater CPA Group for help. Here’s why a controller is important for your business.

3 Strategies to Survive a Cash Flow Crisis

March 15, 2022 | Accounting Services

One of the best things you can do as a business owner is to improve and grow your cash flow. Still, no matter what you do right, the market will fluctuate, and cash flow issues always come up. But, what can you do to prepare and even navigate them? With proper bookkeeping from Edgewater CPA Group and having the right strategies in place, you can survive any ups and downs that might come your way. Here are three of those key cash flow strategies.

3 Simple Ways to Reduce Your Taxable Income

March 1, 2022 | Accounting Services

Are you looking for ways to keep more of your hard-earned money as a small business owner? One of the best ways you can do so is by reducing your taxable income. Other than keeping track of all your expenses and writing off things where you can, Edgewater CPA Group can help you find other ways to reduce your tax bill. Through our strategic accounting services and these little-known ways to reduce your taxable income, you can save some cold hard cash.