Todd's Accounting Services

Happy Memorial Day to you and your loved ones. As we spend the day at backyard barbecues with family and friends, may we take a moment to remember and honor those who paid the ultimate price for our freedom. For this, let us be truly grateful.

Urgency is a tyrant. That’s how the banking “crisis” has many people feeling. While there is uncertainty in the economy and the banking world right now, don’t let that fan your anxiety into a wildfire leading to unwise decisions. Make sure financial decisions are made as a result of careful thoug...

Often somebody you know will need a loan for a valid reason. If you decide to help, it’s smart to get something in writing. The contract, you both sign, should include:
1. Your names
2. Amount and date of the loan
3. Minimum regular re-payment
4. Payment frequency
5. Payment due dates
6. Consequ...

We’ve been watching the banking “crisis” closely. Seeing banks fail can be unnerving, especially when the economy seems to be careening toward a recession. It's easy to begin making financial decisions prematurely and fearfully. Stay focused on what you can control. Seek wise counsel and don’t ma...

Lest you think we just sip margaritas by the pool after tax season...really we spend a lot of time sitting with families and business owners analyzing tax situations and making plans to get the maximum tax savings possible next year. And with what *might* be coming down the pike from Congress, wi...

The IRS's take on cryptocurrency has changed frequently, but right now crypto is considered property for tax purposes (and subject to gain and loss reporting requirements on a tax return). They've been getting steadily stricter about reporting crypto transactions, and likely they’ll continue to. ...

While not ideal, sometimes firing an employee happens. Be legally prepared.
1. DOCUMENT violations and performance improvement plans to get things on track, in writing. (Be sure the employee has acknowledged reading these.)
2. REVIEW handbook firing policies.
3. COLLECT evidence for decision.
4. ...

When it comes to deductions, recordkeeping is key. Being audited is ALWAYS a possibility (especially for small business owners), and you'll be glad later that you can prove your numbers are concrete.

The biggest power a business owner can impart to staffers is the power to change their environment. Whether using a chatbot, an automated or paper survey, or an old-fashioned wooden suggestion box, giving people a voice works.