Marketing

Choosing a Business Entity

Choosing a Business Entity: Financial Impacts Explained

Choosing the right business entity structure is one of the first and most consequential decisions an entrepreneur or business owner makes, because business entity options and their tax implications affect everything from how the IRS taxes your income to how they structure shields your assets from creditors. In most cases, a new business will operate

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Money Tightening

Tighten up billing and collections to mitigate economic uncertainties

Economic uncertainty is a reality every business owner must navigate, but while macroeconomic factors are largely outside of your control, your billing and collections process for your small to mid-sized business is not. Managing accounts receivable effectively is one of the most direct ways to protect your cash flow and keep your business financially resilient,

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Certified QuickBooks Online ProAdvisor working on a laptop

A Certified QuickBooks Online ProAdvisor Can Help Your Business

Regardless of business size, bookkeeping demands time, attention, and the right tools. Most small to mid-size business owners already use QuickBooks, or are actively considering it. It delivers the tools most businesses need, in one platform. However, having access to a tool and knowing how to use it effectively are two very different things. To

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Reviewing local tax report

Some Small Business Owners Can Pay State Income Taxes at Entity-level and Capture a Tax Deduction

Over the years, the tax code has changed many times and the most recent large piece of legislation, the ‘Tax Cuts and Jobs Act, was passed in 2018. This legislation changed many ways in which taxes are figured, including decreasing tax rates, increasing the standard deduction, eliminating the personal exemption and capping the state and

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Client using Quickbooks Online

When RYBD Recommends QuickBooks Online vs. QuickBooks Desktop

80% of small, growing, service-based businesses use some form of QuickBooks®. That’s more than 29 million small businesses in America that depend on this industry-standard accounting software to manage their finances, pay their vendors and even execute Payroll. Many of the smaller businesses serviced by Rhodes, Young, Black & Duncan, CPAs (RYBD) use QuickBooks® Online

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Accountant performing bookkeeping tasks

Keeping Clean Books Can Help Minimize Taxes

Bookkeeping is definitely one business activity that rewards an ounce of prevention. For many businesses owners who are fresh off their end-of-the-year financial close, staying on top of their company’s finances in the coming year takes the top spot on their resolution list. Correcting mistakes and reallocating financial posts made against the wrong budget category

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