Issuing 1099 Forms: A Guide for Small Business Owners
As a small business owner, tax season can be a stressful time—especially when it comes to issuing 1099 forms to your vendors and contractors. Understanding the 1099 process is crucial to ensuring compliance with IRS regulations and avoiding costly penalties. But what exactly is a 1099, who needs one, and why is it important for […]
Benefits of Hiring a Business Bookkeeper
As a business owner, your time is valuable. Balancing the many hats you wear—from marketing strategist to customer service guru—leaves little room to dive deep into the details of your financial records. Additionally, it can be hard to know what services you need or even what to ask for from a bookkeeping and accounting firm. […]
Top 5 Issues with Outsourcing Your Bookkeeping
Outsourcing your bookkeeping can be a game-changer for small business owners, freeing up time, reducing stress, and ensuring accurate financial records. However, the decision to hand over control to an outside provider often comes with questions and concerns. Will it really save money? Can I trust someone else with sensitive data? Will they understand the […]
How Much Does Bookkeeping and Accounting Really Cost? A Guide for Small Business Owners
One of the biggest questions small business owners face when considering bookkeeping or accounting services is cost. With options ranging from hourly rates to flat-rate monthly fees, pricing can be confusing. At Balance Point, we believe that pricing should be clear and predictable, so you know exactly what you’re paying for—and why it’s worth it. […]
Essential Things to Know About Beneficial Ownership Reporting
You may have heard about a new reporting requirement for your business and are wondering what it is or what you need to do. We’re here to help demystify the Beneficial Ownership Information (BOI) Reporting requirement that begins in 2024 and applies to most small businesses. Here are the nine key things you need to […]
7 Key Things to Look for When Hiring a Bookkeeping and Accounting Firm for Your Small Business
Running a small business can feel overwhelming at times. Are you unsure of how your business is really performing? Do last-minute tax filings or surprise tax bills catch you off guard? Maybe communication with your accountant is unreliable, leaving you stressed and unsure. At Balance Point Tax & Accounting, we understand these frustrations because we’ve […]