One of the most important tasks to perfect as a small business owner is bookkeeping. Having accurate records of your business’s finances is a good strategy for maintaining and growing your business. Below we will discuss some important tips for bookkeeping. Consider Hiring a Professional This may seem obvious, but it can be extremely helpful… Read More

Mistakes happen in life. But budgeting mistakes can be a little more costly than what you’ve bargained for. Here is a list of some common small business budgeting errors you want to avoid. Underestimating Costs There will always be additional ancillary or incidental costs which are left out of the budget. An example would be… Read More

If you are planning on selling your business, there are a few things you need to take into consideration: •Records: These will map where your company has been, and where it is going. Records are a good tool to see the past, present, and future of a company. •Answers: Potential buyers will have questions. These… Read More

Last time, we discussed a number of reports you as a business owner should review regularly. These can help you keep track of your finances and how best to handle any issues that arise. Below are some more of these reports: Budget vs. Actual – This report is a comparison of actual business results, mainly… Read More

When you’re running a business, it’s all too easy to overlook something which will in the end cost you more money, time, and headaches. In order to prevent this, there are a number of reports that you as a business should review regularly. Here is a list of some of them: Profit and Loss statement… Read More

According to the IRS (Internal Revenue Service), just over half of U.S. taxpayers use a tax preparer. There are several types of tax preparers, so if you work with one, some things to remember are: All tax preparers must have a current ID number that has been issued by the IRS If you are audited… Read More

In the last article, we discussed a few reasons you should outsource tax and accounting services. Here are some more reasons why outsourcing may be the best option for your business! Cost Savings Employees can cost money; you need to consider salaries, taxes, unemployment, and benefits. Due to these labor costs, it can be more… Read More

There are many benefits to outsourcing your tax and accounting to qualified teams of tax and accounting experts throughout the Racine and Kenosha areas. Below we will discuss a few of them. Access to Expertise When you outsource your taxes and accounting, you gain access to that firm’s tax and accounting expertise. Their professional tax… Read More

There are currently 32.5 million small businesses in the United States; this accounts for 99.9% of all businesses in the US. However, out of these small businesses, more than 20% will fail in the first year, and almost half within the first five years. Below are just a few ways to ensure your small business… Read More

  If you haven’t filed your 2021 Return yet, we at Perfect Balance Accounting Services, LLC can help you with an extension. We have until April 18, 2022 to file your extension and with a couple clicks of the mouse, keep you in good standing with the IRS. Which is a very good thing indeed!… Read More