Highborn CPA

Business Owners - Are you aware of the consequences of incorrect bookkeeping? You as the Business Owner are ultimately responsible for the Books and Taxes (there are caveats here depending on structure of entity). Just one significant transaction entered incorrectly in QuickBooks by your Bookkeeper can have serious consequences. Your Tax Preparer (hopefully a CPA), might not pick it up, as they spend very little time (most don't spend any time at all) going over a full year's worth of transactions. You end up underpaying the IRS and get audited 2 years later. Then you have to pay significant penalties and interest, probably more than the original error. You might then go back to the Bookkeeper, and they may point out that they are not tax experts. Whether it’s their fault might depend on how the transaction was communicated to them. In additition, do they have the proper insurance to cover your losses? Where are the bookkeepers located? Every Business Owner should be fluent in accounting and tax and hire appropriate personnel to ensure accurate an overall accurate system. Here's how the process should work, at a minimum: 1. A Bookkeeper with appropriate experience and a basic understanding of tax consequences journalizes the entries during the month. 2. A CPA should review the books together with the Business Owner on a monthly basis (for businesses with over $500K in revenue). This has many benefits including operational, which are a topic for a different day. #HighbornCPA #Bookkeeping #TaxPlanning #QuickBooks #SmallBusiness #AuditPrevention #TaxPreparation #BusinessGrowth #Accounting #IRS #BusinessOwners #FinancialHealth

💰 Stop Leaving Money on the Table! Tax Tips That Actually Work. Hey fellow business owners! As a CPA, I see too many people missing out on tax savings. Here's your no-nonsense guide to keeping more of your hard-earned cash 👇 - Quick Tip: Your phone is your best friend! Use apps like Intuit QuickBooks to snap pics of receipts (yes, even that coffee meeting counts!) - Working from home? Measure your office space - that's free money waiting to happen with the home office deduction! - Driving for work? Track. Those. Miles. Trust me, they add up fast! - Bought new equipment? Don't forget Section 179 - it's like a golden ticket for writing off big purchases. Pro tip: Good records = more deductions = more money in YOUR pocket. Need help maximizing your deductions? I've helped many small businesses pay less in taxes (legally, of course! ). DM me for a chat or drop a comment below! #cpa #TaxTips #SmallBusinessTaxes #CPAServices #TaxDeductions #FinancialSuccess #BusinessFinance #TaxPlanning

Every setback is a chance to learn. In this video, I explain the common reasons businesses fail. Let’s turn challenges into growth opportunities. Watch now and share your thoughts in the comments! https://lnkd.in/e_Kw3HB7 #BusinessFailure #GrowthMindset #Entrepreneurship

Wishing You a Prosperous New Year! ✨ Cheers to new opportunities, inspiring connections, and success in 2025. Let’s grow, collaborate, and thrive together! Happy New Year! 🎉🥂 #HappyNewYear #Welcome2025 #NewBeginnings

Are unions still relevant in 2024? Watch this video to know my perspective on labor organizing, collective bargaining & market dynamics, using recent Starbucks closures as a case study. Comment and let me know what you think? https://lnkd.in/e8wM5p-U #Labor #Business #StarbucksUnion #UnionImpact #StoreClosures #LaborRights #CorporateNews #businesstrends #UnionFallout #StarbucksShutdown #WorkplaceReform #BreakingNews #EconomicUpdate #EmployeeRights

🔍 Let's Talk About This BOI Filing (Because It's Actually Important!) Here's the deal - the government wants to know who really owns your business to prevent financial crimes. Simple as that. Quick breakdown of what you need to know: - Got a business before 2024? File by Jan 1, 2025 - New business? You get 90 days - Skip filing and it'll cost you $500 per day Here's the good news - our team at Highborn CPA is all over this. We're helping businesses like yours figure out: - If you actually need to file - Who counts as an owner - How to file correctly - Staying compliant going forward No need to stress about this - we've got your back! Drop a message if you want help getting this sorted out. https://lnkd.in/evcu8mda #SmallBusiness #CPALife #BusinessOwner #Compliance