Blog & Articles

How Often Should a Business Reconcile Bank Accounts? One of the Simplest Accounting Tasks Can Also Be One of the Most Important Ask ten business owners how often they reconcile their bank accounts and you'll

How Do I Know If My Financial Statements Can Be Trusted? Good Decisions Require Reliable Financial Information Every business owner relies on financial statements. Whether you're hiring employees, applying for financing, purchasing equipment, paying estimated

Cash Flow vs. Profit: Why Profitable Businesses Still Run Out of Money One of the Most Important Financial Concepts Every Business Owner Should Understand One of the most common statements business owners make is: "We're

What Financial Reports Should Every Business Owner Review Every Month? Most Businesses Generate Financial Reports. Far Fewer Actually Use Them. One of the biggest misconceptions in small business is that financial reports exist primarily for

Why Don't My Financial Statements Match Last Month? Financial Reports Should Tell a Consistent Story—Not a Different One Every Time You Print Them One of the fastest ways for a business owner to lose confidence

What Is Opening Balance Equity? (And Why Is It Still on My Balance Sheet?) One of the Most Misunderstood Accounts in QuickBooks and Xero Many business owners first notice an account called Opening Balance Equity

IRS Tax Resolution What Happens If You Ignore IRS Notices? Opening your mailbox to find a letter from the IRS can be stressful. For many taxpayers, the natural reaction is to put the notice aside

IRS Tax Resolution IRS Levy vs. Tax Lien: What's the Difference? Many taxpayers use the terms IRS tax lien and IRS levy interchangeably. Although both are collection tools used by the Internal Revenue Service, they

IRS Tax Resolution How Long Does the IRS Have to Collect Back Taxes? Understanding the Collection Statute Expiration Date (CSED) One of the most common questions taxpayers ask after receiving an IRS collection notice is,

IRS Tax Resolution Can IRS Penalties Be Removed? Receiving an IRS notice with hundreds—or even thousands—of dollars in penalties can be frustrating. Many taxpayers assume IRS penalties are permanent and simply part of the cost

IRS Tax Resolution How Does the IRS Calculate an Offer in Compromise? One of the biggest misconceptions about an Offer in Compromise (OIC) is that the IRS simply agrees to "settle for pennies on the

IRS Tax Resolution What Is a Partial Payment Installment Agreement (PPIA)? Many taxpayers assume that if they owe the IRS money, they must enter into a payment plan that pays the balance in full. While

IRS Tax Resolution Can the IRS Take My House for Back Taxes? Few IRS collection questions create more anxiety than whether the government can take your home. Many taxpayers believe the IRS immediately seizes houses

IRS Tax Resolution Why Is My IRS Balance Different Online Than on My Notice? If your IRS Online Account shows one balance and your IRS notice shows another, you are not necessarily looking at an

IRS Tax Resolution IRS Account Transcript vs. Return Transcript: What's the Difference? One of the first questions we ask new IRS resolution clients is, "Have you obtained your IRS transcripts?" The second question is often,