Posts by James Dean

20 Tax tips for small businesses: What every business owner needs to know

Running a business is already a juggling act – from managing operations to planning growth strategies (and yes, dealing with those inevitable coffee spills). When tax season approaches, it can feel like someone's tossing another ball into your routine. But here's the good news: with the right small business tax tips and modern tools, tax season can transform from a dreaded deadline into a strategic opportunity. Whether you're filing small business taxes for the first time or looking to optimize your tax strategy, we've compiled 20 essential tax tips for small business owners that will help you navigate tax season confidently and potentially save money along the way.

Streamline your travel expense reporting: Examples and tips

Managing business travel expenses can be a complex task for organizations of any size. A robust travel and expense management system is crucial for maintaining accurate financial records, ensuring compliance, and streamlining reimbursement processes. Whether you're building your first small business expense report or part of a larger organization seeking to optimize existing processes, understanding the fundamentals of travel expense reports is essential for financial success. In this blog post, we’ll dissect what a travel expense report is, how to streamline the process, and what that practice looks like in the real world.

Can I write off business expenses on my personal taxes?

Tax season can be a tricky time for self-employed individuals, freelancers, and small business owners. The concept of tax deductions is particularly enticing when you think about reducing the amount you owe to the IRS. But what expenses can you actually write off? If you're asking yourself whether you can deduct business expenses on your personal taxes, you're not alone. In this blog post, we’ll break down the tax implications of business versus personal expenses, explore common deductions, explain how to report your expenses, and highlight the benefits of accurate record-keeping.

Mileage reimbursement: Everything you need to know for 2024

Understanding mileage reimbursement is crucial for employees who use their personal vehicles for business and employers who need to reimburse them fairly and efficiently. It's a balancing act: employees need to know they will be adequately compensated for the additional wear and tear on their cars, while employers need to ensure they're following the mileage reimbursement rules and keeping costs under control. 

Credit card reconciliation: Your business’s complete guide

Corporate cards are indispensable when running a business — but so is keeping tabs on those business expenses. That's where credit card reconciliation comes in. Reconciling credit cards isn’t just about balancing numbers; it’s about unlocking insights into your spending and keeping your financials spotless.

Whether you're a small business owner or managing a finance team, our handy guide demystifies credit card reconciliation. We’ll ensure you're well-equipped to tackle this task with confidence and ease.