Ilona Josiane

Do You Need a CPA or Tax Planner for Your Small Business? Running a small business can feel like juggling flaming torches while riding a unicycle. You're dealing with sales, inventory, marketing—and yes, taxes. It’s easy to assume you can handle it all, especially with the abundance of accounting software out there. But at some point, many business owners ask: Should I hire a CPA or a tax planner? It’s a good question. And the answer isn’t always clear-cut. In fact, it depends a lot on your business size, structure, growth stage, and comfort with numbers. That said, getting professional help with taxes isn’t just about filing forms—it’s about strategy, risk reduction, and long-term savings. Let’s break down what CPAs and tax planners actually do, and how to decide if one (or both) is right for your business. What Does a CPA Do?     A CPA—Certified Public Accountant—is a licensed professional who’s passed a rigorous exam and meets ongoing education and experience requirements. ...

  How to Separate Business and Personal Finances for Taxes? Let’s be honest—if you’re running a small business, things can get messy fast. One day you're buying coffee for a client meeting, the next day you're using the same card to grab lunch for your kid. It may seem harmless in the moment, but when tax season hits? It's a nightmare. Blurring the line between business and personal finances doesn’t just cause headaches—it can lead to missed deductions, inaccurate reporting, and potential IRS red flags. Luckily, with a little strategy and some day-to-day awareness, you can separate the two cleanly. Doing so won’t just save you time; it can also save you money. Here’s how to make that divide—and stick to it. 1. Start with a Separate Business Bank Account     This is the first and most crucial step. Open a business checking account and dedicate it solely to business transactions. No shared use. No gray areas. Whether you’re a sole proprietor or operating as an LLC, keeping ...

Top Tax Credits Available for Small Business Owners When you’re running a small business, every dollar counts—and taxes can easily eat into your hard-earned profits. While most owners focus on deductions, tax credits are often overlooked. And that’s a missed opportunity. Unlike deductions, which reduce your taxable income, credits reduce your actual tax liability—dollar for dollar. That’s a big deal. Yet with the complexity of tax law and the constant changes each year, it's easy to miss out on the credits you're legally entitled to. In this article, we'll walk through some of the top federal tax credits small business owners should have on their radar—and how to approach them without getting overwhelmed. 1. Small Business Health Care Tax Credit     If you provide health insurance to your employees, you might qualify for the Small Business Health Care Tax Credit. This one is geared toward businesses with fewer than 25 full-time equivalent employees who pay average wages be...