Blog
Latest Articles
Understanding Cost of Goods Sold
The account on your income statement called Cost of Goods Sold can be confusing to non-accountants. In this article, we’ll attempt to de-mystify it and explain how it works. Cost of Goods Sold is an account in your Chart of Accounts that is a very special type...
Dallas TX – What is a Fractional CFO and Does My Business Need One?
Plano Texas – What is an IRS Correspondence Audit and How do I successfully handle one if audited!
Most audits today are not held in IRS audits or in meetings with IRS employees but are Correspondence Audits that are handled completely through the mail. If you are chosen, learn what to expect and how to successfully navigate one.
Plano TX – When the IRS will subordinate their lien position to another lender
When a taxpayer owes tax debt to the IRS and there is a lien filed against the assets of the taxpayer, did you know that there are certain situations where the IRS may be willing to subordinate the government's interest to another lender? Well there are! Read this to...
Richardson TX – Quickbooks Desktop Vs. QBO – Which is best for bookkeeping for your business?
When business owner's discuss Quickbooks, they may mean Quickbooks Desktop or Quickbooks Online (QBO). While both products are a part of the Intuit Family, they are different in functionality and appearance. Read to learn about some of these differences.
Plano TX – When to request a CAP Hearing if you have IRS Debt
In this article, we will discuss what a CAP Hearing is and when it is valuable to request one if you have IRS Debt.
Dallas TX – When is the Right Time for your business to bring on a Part-Time CFO?
Learn more about what a Fractional (Part-Time) CFO is and when it is helpful to bring on someone with that expertise.
Mid-Year Review
Can you believe that half of 2019 is gone already? That means it’s a great time to take stock of how your business has done for the first half of 2019 so that you can meet your financial goals for the entire year. On Track for Sales Are you on track to...
Plano TX – Why Every Parent Should File a Lien on Their Child!
In this article, we discuss why it's important for parents who loan money to their children, or for any other loans to family members or to those close to you, to properly set up a formal loan and file a UCC lien, and how doing so, can protect both parties in the...
Plano TX – What is Injured Spouse Relief?
Taxpayers come into our office who have had their refund held by the IRS due to debts of their spouse not related to a MFJ tax debt. These include defaults on educational loans, unpaid child support and spousal support, and other debts of the spouse. Read this blog...