By Steven C Resuta, CPA - as published on LinkedIn Getting started with QuickBooks Online (QBO) doesn’t have to be a headache. Whether you’re a contractor, an auto body shop, or a service business, mastering just three core areas can help you "unleash the benefits" of the platform and keep your cash flow positive. Here is my quick-start guide to the three most important tasks every small business owner should master: 1. Master the Art of Invoicing The goal is to get paid fast

Many S Corp owners are unaware of a critical tax requirement: if you actively work in your business, you must pay yourself "reasonable compensation" via payroll. This isn't just a suggestion; it's a tax law mandate, and the IRS even highlights it in their welcome letters to new S Corporations.

Written by Steven C Resuta, CPA - as published on LinkedIn Own a rental property?  Keeping every receipt can add up to big write-offs! ...

Sunday, September 1st marks the beginning of tax planning season. Simply winging large purchases makes it very difficult, and you may make a rash decision that doesn’t fit your cash flow and future profit needs. For small businesses, nearly three-quarters of the year have passed by this time, and your profit patterns are usually well established.