The Blaize Accounting Blog
When to make an S Corporation Election
Things to consider when making an S Corporation election
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Cash vs. Accrual Accounting: Which Is Right for Your Small Business?
When it comes to managing your finances, one of the most critical decisions you’ll make is choosing between cash and accrual accounting methods. Understanding the difference between cash and accrual accounting can make a huge impact on your bottom line. So, let’s dive in and break it down in simple terms. Cash Accounting: Keeping It Real Cash accounting is like keeping tabs on your wallet. You record transactions when money changes hands. So, if you…
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The Importance of Issuing Form 1099s
As a small business owner, you’re likely juggling numerous responsibilities, from managing day-to-day operations to ensuring compliance with various regulations. One essential aspect of financial management that can’t be overlooked is issuing Form 1099 to recipients by the due date. Why it’s crucial First things first, what exactly is Form 1099? Well, think of it as a way to report income other than wages, salaries, and tips. If your business paid someone over $600 in…
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How to Get Ready for Tax Season
Essential steps a business should take near the beginning of the year to get ready for the tax filing deadline.
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