CPA Articles

Summer is usually considered to be a time for fun and relaxation. For those who are lucky enough to get the summer months off, it can also be a time to add to job skills, credentials or even the household coffers. For that, a summer job can’t be beat. Whether it’s a casual part-time job for your child or a foray into a new field where you can test the waters for a possible career change, summer jobs are full of potential

Why Summer Jobs Matter

Throughout history, there have been times when the economy has gotten so bad that we dipped into a recession. A recession isn’t as bad as a depression. Even younger generations will have heard of The Great Depression, thanks in part to shows like The Waltons, and stories passed down from grandparents. A recession isn’t considered as bad as a depression, but it can be bad enough that people can lose their savings, their homes and even their dignity. History repeats itself and we’re bound to have a recession sooner or later. What can you do to prepare for it?

People talk about saving money like it’s a piece of cake. And for a lot of people—mainly those with a lot of disposable income—it is easy to stockpile cash. But for the rest of us with very little disposable income, or who struggle more with finances, saving is a challenge. But it does need to be a priority, because life is full of unpredictable situations where savings can be a lifesaver.

Few things create as much anxiety among taxpayers as the possibility of an IRS audit. However, the reality of audits is often far less alarming than you might assume. While it is important to file accurate returns and follow tax laws, the likelihood of an audit is lower than most people think, and those who take a proactive approach to tax compliance have little to fear.

Understanding how IRS audits work, why they happen, and how to minimize audit risk can provide peace of mind and help taxpayers stay prepared in the rare event that an audit occurs.

Self-employment offers flexibility, independence and the potential for unlimited earnings, but it also comes with important financial responsibilities—one of the most significant being taxes, as your CPA can attest to. Unlike traditional employees who have taxes withheld from their paychecks, self-employed individuals must handle their own tax obligations, including making estimated tax payments throughout the year. Failing to do so can lead to underpayment penalties, interest charges, and financial stress when tax season arrives.

Every business owner aims to maximize profits, yet many overlook hidden expenses that quietly drain resources. These costs may seem insignificant, but over time, they add up, reducing profitability and restricting growth. Identifying and eliminating these unnecessary expenditures can improve cash flow and create a more financially stable company. Below are key areas where businesses commonly lose money and practical strategies to cut these hidden expenses today.

1. Unused Subscriptions and Software  

Managing payroll is one of the most important responsibilities for business owners. Ensuring employees are paid correctly and on time is essential not only for maintaining morale and compliance but also for avoiding payroll tax issues that could lead to audits, penalties, or even legal trouble. The IRS and state tax agencies pay close attention to payroll taxes, and mistakes—whether intentional or accidental—can trigger red flags that invite unwanted scrutiny.

The Importance of Payroll Compliance

With the ways things are going with the economy, more people are looking to be their own boss with an e-commerce business. E-commerce has been around since the internet first became available to the public, which is over 20 years now. If you’re ready to hit the ground running and want to be successful using an e-commerce business model, here are some expert tips to keep in mind.

Keeping Your Website Optimized for Conversions

Online funding management systems have made it popular and convenient for entrepreneurs to ask for and collect startup funds from family and friends. Hundreds of now successful young businesses got their early boost from benevolent relatives and friends. Whether startups choose to use sites like Kickstarter and GoFundMe, or whether owners approach family and friends in person, it’s become commonplace and even acceptable to solicit friends and families for money to bootstrap a business.