by Karla Dennis | Aug 6, 2013 | Blog
Have you recently started your own business and have no idea where to even begin when it comes to handling your finances and bookkeeping? There are many business owners that think bookkeeping for your business is an easy task and something that they’ll have plenty of time and energy for. While this may be the case for some, the vast majority that try to handle the bookkeeping on their own actually get in over their heads and need to reach out for help after it is too late. This is why we suggest letting a professional handle your bookkeeping services from the start. Don’t waste your time or energy on something you don’t even know how to handle in the first place. read...
by Karla Dennis | Aug 3, 2013 | Blog
Often times when discussing Bookkeeping with a new client it can be confused with accounting. In simple terms Bookkeeping is only the reporting of information for both business use and also for the IRS. Accounting on the other hand will bring in to play the analyzing of this information in order to make better business decisions. For this reason employing a Bookkeeping service with a backgroud in accounting can be a great way to be the best services for your money. Maintaining proper Bookkeeping is a necessary part of running a good business. Having financial information for your small business at your finger tips is important in order to make many of your daily decisions. Having the added support of accounting services will also help you dissect this data that is placed in front of you. It is important to note that there are different ways of handling the accounting for your business and choosing really comes down to your type of business. The two most commons forms of accounting are FIFO and LIFO. FIFO stands for first in first out and means that your invoices will be paid by from the first to be received to the last. LIFO on the other hand stands for last in first out and this will make sure the most recent invoices are being paid first. Proper accounting to back up your Bookkeeping needs will help you monitor important things like revenue flow as well as expenses. If you cannot find out what the balance in your business checking account is from your Bookkeeping it may be time to upgrade. Information like...
by Karla Dennis | Aug 1, 2013 | Blog
Hello everyone Karla Dennis here with Cohesive Tax talking with you today about what your year end plan is for you tax situation. I use this blog to keep individuals thinking about how they can lower their tax bill and ultimately bring home the most amount of money thanks to tax benefits. If you are looking for personal or small business tax advice please contact me via my website or call the office today to learn how Cohesive Tax can help you get the most out of your tax situation. In my blog today we are discussing your tax strategy and preparation as the fourth quarter of the year draws near. Far too often individuals get caught up with every day life and don’t consider their tax opportunities through out the course of the year. The best way to not get left behind when it comes to tax preparation is to follow these three easy steps. Number one consider the money and purchases you have made so far this year and how they will affect your over all tax bill. Number two, what lies ahead in the remainder of the year for your tax considerations. If a large amount of your income this year has yet to be earned there may be options to bringing more of it home. And third, do I have a tax preparation plan in place for when next April rolls around. It is important to start thinking about your next tax day now instead of waiting until next year. At Cohesive Tax we can help you bring home the most amount of money by...
by Karla Dennis | Jul 31, 2013 | Blog
Hello again and welcome, I’m Karla Dennis, CEO of Cohesive Tax, a tax preparation and consultation firm. We are licensed in all 50 states and are here to help you plan or prepare your taxes for the future as well as to offer you sound advice. Today I would like to give you three tax tips for small business owners. There are three things that you can do right now as a small business owner to lower your tax bill. As a business owner the entity that you operate your business in is very important. Whether you operate as an LLC, Corporation or a Sole Proprietor can certainly determine your tax liability. it is very important that you research and determine which entity is right for you; don’t necessarily think that the entity you started with is the entity you will end up with. Tip number two is to use multiple entities so you can keep your tax bill low. One of the biggest strategies you have as a business owner is to move money from one entity to another; this is called up streaming income. Up streaming income can help you lower your taxes and keep more money in your pocket. The third strategy that you should use is to ensure you have alternative year ends for your entities. All of your entities do not have to end as of December 31. it is important that you use multiple year ends because you can move money around, save on taxes and use multiple strategies when you have multiple entities with different year ends. read...
by Karla Dennis | Jul 31, 2013 | Blog
If you’re currently experiencing issues with the IRS and need tax resolution help, you may think you’re alone in the situation. The truth of the matter is that you’re not; at some point in their life, almost everyone runs into tax problems with the IRS and the only way to remedy a majority of these situations is by consulting with a tax resolution specialist. It’s absolutely imperative that no matter how much you’re struggling mentally, emotionally, or financially, to remember that you’re not alone. There are tax resolution specialists out there waiting to help you just like they’ve helped countless other people in similar situations. One of the tax resolution companies we’d like to discuss today is Cohesive Tax. At Cohesive, they have over 60 years of combined experience between their Enrolled Agents, some of which have worked for the IRS. Who would be more qualified as a tax resolution specialist than someone that has actually worked with the IRS? At Cohesive Tax, they’ve help individuals with a variety of different tax resolutions to solve problems such as a tax lien, back taxes, audits, garnished wages and levied bank accounts. This list is just a small sample of some of the scenarios Cohesive has seen in working with their customers. The important thing for you to know and understand is that if you’re in a situation like this it’s imperative that you reach out for help from a tax resolution specialist today. Unfortunately these problems don’t just go away on their own and it does take the help of a tax resolution specialist. If you’re struggling with tax problems...
