Protecting Your Financial Security and Wealth

With cyber security being increasingly important, we have listed a few tips to safeguard your financial information and online accounts.   Here is a link to our record retention guide: Regularly download any pertinent financial information such as bank statements, credit cards, financial statements of your business, and your tax returns. Make sure after you…

Using a sound financial reporting system makes running your business easier

A Fundamentally Sound Financial Reporting System

The Importance of a Sound Financial Reporting System Receiving an accurate and timely Financial Statement each month is based on the reliability of the financial reporting system you have in place when reviewing all your documents related to the monthly Financial Statement.  In addition, a sound financial reporting system ensures proper checks and balances, an…

Woman standing outside of her retail shop

Restaurant Meals 100% Deductible – 2021 and 2022

At the end of 2020 the stimulus legislation passed a provision that removes the 50% limit on deducting business meals provided by restaurants in 2021 and 2022 making those meals fully deductible.   Food and Beverage Expense In general, the ordinary and necessary food and beverage expenses of operating your business are deductible. However, the deduction is…