QuickBooks Cleanup: Essential Steps for Accurate Financials
Struggling to make sense of your QuickBooks data? A thorough QuickBooks cleanup is essential for maintaining accurate financial records. In this guide, we’ll walk you through the critical steps needed to tidy up your financial data, ensuring you can trust your numbers. Ensuring financial data integrity is crucial in the QuickBooks cleanup process. Key Takeaways […]
Guide to SaaS Accounting: Methods and Best Practices
SaaS accounting is crucial for managing the unique financial aspects of subscription-based businesses. Unlike traditional accounting, SaaS accounting handles recurring revenue and service obligations, ensuring accurate financial tracking and compliance with standards like Generally Accepted Accounting Principles (GAAP). This article will explore the methods, best practices, and key concepts to help you navigate SaaS accounting […]
Occupational Fraud: Insider Threats to Businesses, Churches and Nonprofits
Key Takeaways Estimated losses related to occupational fraud exceed one trillion dollars annually. The three primary types of occupational fraud are asset misappropriation, corruption, and financial statement fraud. The number one red flag for occupational fraud is living beyond one’s means. Occupational fraud may be prevented and/or detected through a strong “tone at the top,” […]
Accounting Services CPA for Small Businesses
What can an Accounting Services CPA do for your small business? This guide covers essential services like bookkeeping, tax minimization planning, tax planning, and financial statement preparation offered by CPAs to streamline operations, minimize taxes and support growth. Key Takeaways CPA firms provide comprehensive accounting services, including bookkeeping, financial statement preparation, and tax minimization planning, […]
Essential Guide to Nonprofit Tax Preparation and Filing Requirements
Nonprofit tax preparation is essential for maintaining your tax-exempt status. In this guide, we’ll walk you through IRS Form 990, how to choose the right version, and ensure accurate filing. You’ll also learn about key components, common challenges, and filing deadlines. Stay compliant and transparent with our comprehensive guide. Key Takeaways Nonprofits must understand and […]
Essential Steps for a Streamlined Bookkeeping Clean Up
Are your financial records and financial data in disarray? A bookkeeping clean up is your solution. This guide offers clear steps to help you organize your books, making it easier to manage your finances and reducing your stress levels. Key Takeaways Start with organized financial records to lay a solid foundation for accurate bookkeeping. Consistent […]
Top Startup CPAs: Essential Accounting Services for New Ventures
Wondering why your startup needs a CPA? Startup CPAs offer essential tax, financial management and compliance services, ensuring your business avoids financial pitfalls and that you stay out of IRS trouble. This article outlines the important accounting services they provide to help your startup thrive. Key Takeaways for Startup CPAs CPAs are important for startups […]
Essential Tips on Taxes for the Private Practice Therapist
Navigating taxes for a private practice therapist can be daunting, especially if your practice is new. But taxes are crucial for managing the finances of your practice and maximizing your income. This guide provides practical insights on tax deductions, tracking business expenses, and smart strategies to lower your tax burden, helping you save money and […]
Best Practices for Land Improvements and Bonus Depreciation
Looking to understand land improvements and bonus depreciation? This guide explains how you can use bonus depreciation to save on taxes for your land enhancements. Learn what land improvements qualify, how the process works, and steps to claim your deductions effectively. Get ready to optimize your tax savings and financial planning. Key Takeaways Land improvements, […]
Top Benefits of Outsource Restaurant Accounting Services
Managing finances can overwhelm restaurant owners, taking time away from core activities like serving customers and growing the business. Outsourcing restaurant accounting allows you to focus on what you do best, while cost-effective skilled professionals handle your financial tasks. This article will detail the key benefits of outsourcing restaurant accounting for your restaurant’s accounting needs, […]
Understanding Tax Preparer Rates: What to Expect in 2025
If you’re wondering about tax preparer rates in 2025, you’re not alone. Knowing what to expect can help you budget effectively for tax season. This article will break down the costs associated with hiring a tax preparer, including the factors that influence these rates and fees you might encounter. By understanding these elements, you can […]
What is Forensic Accounting – And When Might You Need It?
What is Forensic Accounting – And When Might You Need It? Forensic accounting is a critical field that merges accounting expertise with investigative prowess to uncover financial crimes and resolve disputes. Forensic accountants play a vital role in today’s complex financial landscape, where fraud and financial misconduct can have significant consequences for businesses and individuals […]
Guide to Accounting for Ecommerce Business Owners
Accounting for ecommerce is crucial for online business success. In this guide, we’ll cover essential processes like tracking transactions, managing taxes, and handling inventory, and how accounting firms can provide vital services such as tax management and bookkeeping. Learn practical tips to ensure your ecommerce accounting is accurate and efficient. Key Takeaways Ecommerce businesses must […]
What to Do If I Haven’t Filed My Taxes in 3 Years
Haven’t filed my taxes in 3 years? It’s essential to take action quickly to avoid severe penalties and legal issues. This article will guide you through the immediate steps to get back on track, the consequences of not filing, and the options available to manage your tax debt. Additionally, filing your taxes is crucial to […]
Top Outsourced Accounting Services to Streamline Your Business
Outsourced accounting is the practice of hiring third-party firms to handle your business’s accounting functions. A business accountant can help manage financial transactions, assist in tax filing, and provide valuable insights into the financial health of your business, making it easier for you to focus on your core business activities. In this article, we’ll explore […]
Expert Trucking CPA Services for Your Transportation Business
Running a trucking business involves unique financial challenges that require specialized solutions. This is where a Trucking CPA comes in. They help you navigate industry-specific tax laws, manage multi-state compliance, and optimize costs. In this article, you’ll learn how a Trucking CPA can streamline your financial management for better profitability and compliance. Key Takeaways Specialized […]
Essential Realtor Tax Deductions You Need to Know
Want to lower your tax bill as a real estate agent? This guide covers essential realtor tax deductions like business expenses, home office costs, and travel expenses to help you maximize your tax savings. Key Takeaways Real estate agents can significantly reduce their taxable income through various deductions, including self-employment taxes, business expenses, and home […]
The Benefits of Hiring LLC Accountants for Your Small Business
Do you need LLC accountants for your business? These experts streamline your finances, tax obligations, ensure tax compliance, and help your business grow. They also provide financial analysis to help you make informed business decisions. Read on to learn how their services in bookkeeping, tax preparation, and financial planning can benefit your LLC. Key Takeaways […]
Enrolled Agent vs. CPA: Choosing the Best Tax Professional for Your Needs
Tax season is here, and you’re probably wondering whether you should hire an Enrolled Agent (EA) or a Certified Public Accountant (CPA). Understanding the key differences between an Enrolled Agent vs CPA is crucial for making an informed decision. This article will break down the roles, qualifications, and areas of expertise of EAs and CPAs […]
Accounting for Law Firms: Proven Strategies to Boost Financial Health
Accounting for law firms is critical to managing finances, ensuring compliance, and enhancing profitability. This article explores essential strategies, including setting up financial infrastructure, managing trust accounts, choosing accounting methods, and leveraging technology. Mastering these aspects will help your firm stay financially healthy and compliant with tax and legal standards. Key Takeaways Master the fundamentals […]
What is Bill.com? Features and Business Benefits Explained
Bill.com is a cloud-based platform that simplifies bill payments, invoicing, and accounts payable for businesses by integrating with your accounting system. In this article, we will explore what is Bill.com, including its features and benefits. We will discuss how it can enhance your financial operations and improve efficiency. Additionally, we will go over the collaboration […]
Top Tax Deductions for S Corporations: Maximize Your Savings
Owning an S Corporation means you have access to tax deductions for S corporations that can lower your taxable income. Understanding these deductions is key to maximizing your tax savings. This guide will walk you through the main tax deductions available to S corporations, helping you make the most of your tax benefits. Key Takeaways […]
How to Conduct a Georgia CPA License Search
Need to verify a CPA license in Georgia? This guide covers everything you need to conduct a Georgia CPA license search. We’ll show you how to access the state board’s website, use the verification tool, and understand the results. Key Takeaways The Georgia State Board of Accountancy oversees the licensing and regulation of CPAs, ensuring […]
How to Obtain an Atlanta Business License
Starting a business in Atlanta? The first step is getting a business license. This guide covers the types of licenses, required documents, application steps, fees, and renewals. Here’s how to get your Atlanta business license. Key Takeaways Securing an Atlanta business license is mandatory for all businesses operating within city limits, ensuring compliance with local […]
🎉WOOHOO!! We Made the Best of 2024 My Dunwoody List 🎉
Exciting News!!! Massey and Company CPA has been recognized as the best CPA firm in Dunwoody in 2024 by Atlanta Best Media! Thank you for the support of our clients and our amazing Team, who have made this possible. We are so thrilled with our growth over the past 10 years. Click HERE to meet […]
Ultimate Guide to Tax Write Offs for Vehicles Over 6000 lbs in 2024
If you’re a business owner, understanding the tax code related to the tax write off for vehicles over 6000 lbs is crucial. This guide explains how you can leverage Section 179 to deduct the cost of qualifying vehicles, potentially saving thousands on your taxes. Read on to learn about eligibility criteria, the types of vehicles […]
In-Kind Donation: A Comprehensive Guide for Nonprofits
An in-kind donation is a non-cash gift of goods or services to a nonprofit, reducing expenses and providing vital resources. In this article, we’ll explore the different types of these donations, their benefits, challenges, and how to effectively manage them. Key Takeaways In-kind donations, which include goods and services, provide nonprofits with critical support, allowing […]
Leasehold Improvements: Tax Implications for Landlords & Tenants
Leasehold improvements are changes made to rental properties to meet tenant needs. These can include new partitions, flooring, and fixtures. This article explores the benefits, tax implications, and who typically covers the costs of leasehold improvements. Key Takeaways Leasehold improvements are custom modifications made to enhance leased spaces, tailored to tenant specifications, significantly impacting property […]
Understanding What Is a Single Member LLC: A Quick Guide
What is a Single Member LLC? A Single Member LLC, or limited liability company, is a business structure that provides one owner with liability protection and tax benefits, merging the simplicity of a sole proprietorship with the advantages of a corporation. This article will examine its definition, operation, tax treatment, comparisons with other structures, and […]
Do Venmo and Other Cash Apps Report to IRS for Personal Use?
Curious if Venmo, Zelle, Cash App, PayPal and other payment apps must report your personal transactions to the IRS? The short answer is no, payment apps on phones do not report personal payments. However, the scenario for payment apps changes when it comes to business payments. Venmo and Your Tax Return Handling tax reporting for […]
Mastering QuickBooks Online Receipt Capture | Your Ultimate Guide
QuickBooks Online Receipt Capture is an essential feature that helps businesses easily manage and store their receipts. By automating the process of recording and attaching receipts to transactions it ensures accuracy and saves time. This article will guide you through how to use QuickBooks Online Receipt Capture effectively, its benefits, and troubleshooting tips. Key Takeaways […]
Mastering Nonprofit Bookkeeping: Best Practices and Essential Tips
Nonprofit bookkeeping is crucial for ensuring financial transparency and compliance in organizations committed to a mission rather than profit. Unlike for-profit accounting, it requires careful tracking of funds in line with donor restrictions and regulatory requirements. This guide will walk you through the essentials of nonprofit bookkeeping, from understanding key financial statements to implementing best […]
The Ultimate Guide to Construction Accounting
Construction accounting involves unique practices such as job costing, revenue recognition and managing overhead costs that are specific to each project. For construction companies, understanding these methods is essential to ensure financial health and tax compliance. This article will explain the core principles of construction accounting, the key differences from regular accounting, and best practices […]
Top Strategies for Retail Inventory Management
Inventory management software is a key business tool for the retail clients of our CPA firm. In this article, I explain how to understand the basics of inventory, choose the right inventory management software, manage different types of inventory and implement inventory optimization techniques. I will also provide you with practical solutions to use inventory […]
What is a CPA? Certified Public Accountant
As the accounting industry continues to evolve, the demand for CPAs is growing, making now the ideal time to embark on this exciting journey. In this blog post, we will provide a comprehensive guide to understanding “what is a CPA” – the designation, licensure, specializations, and the benefits of becoming a CPA, as well as […]
Cloud Accounting Software
Selecting Accounting Software: Which is Right for Your Small Business? Guest post written by Radhika Patke Introduction: Understanding the Benefits of Cloud Accounting Software Cloud accounting software has revolutionized the way businesses manage their financials. With the advent of online accounting tools, businesses no longer have to rely on traditional, on-premise software installations. Instead, they […]
CPA Tax Tips for New Businesses in Atlanta
Owners of new businesses call my tax and accounting office in Atlanta looking for “CPA tax tips.” In this article I will share some of the CPA tax tips that tend to be the most meaningful, practical and useful for creating and running a new business. Stay in Touch with your CPA Expect your […]