If your business pays quarterly estimated taxes, the third payment of the year is due September 15, 2026 — for both the IRS and Virginia. Miss it and the cost isn't just the tax you owe; it's a penalty on top of it. Here's the short answer: if you're self-employed or the owner [...]
Business owners use these three titles interchangeably all the time — and it’s an easy mix-up because the roles overlap. But they’re not the same job, they don’t cost the same, and hiring the wrong one for the task in front of you either wastes money or leaves a real gap uncovered. Here's [...]
AI-generated audio overviewAudio overview (MP3)nYou're not the only business behind on their Books If your bank and credit card accounts haven't been reconciled since Spring, your receipts are living in a shoebox (digital or literal), or you genuinely don't know what your last quarter's numbers look like — you're not alone. Bookkeeping is one of [...]
Be Aware of “Doing It on Your Own” Many small businesses don’t have the extra internal resources — either the experience or the required time availability — to perform a smooth transition from QuickBooks Desktop to QuickBooks Online (QBO). You should consider outsourcing a lot of this task to a firm that has [...]
Whether a worker is a W-2 employee or a 1099 contractor is not a business preference call — the IRS decides by control. Get it wrong and you risk back taxes, penalties, and lawsuits.
With AI implementation being all the rage and more than being just the latest fad, what approach should software vendors and small business owners take so they are not left "holding the bag" while AI is being implemented on their business data? Here are some items to think about. "Trust but Verify" should be every [...]
Happy New Year! As business owners start into the New Year we wanted to provide some tips to help your business thrive – The 5 Rules for 2025. Rule 1: Cash Flow Management is Non-Negotiable Rule 2: Price for Profit, Not for Popularity Rule 3: [...]
Ready or Not Here Comes the New Year! Wow, 2025 is almost here! It is so hard to believe how fast 2024 has gone by! At P&L Business Solutions, we like to encourage our clients to have all their “ducks in a row” as we come to the end of the [...]
Year-End Tax Strategies With only 2 ½ months left before we reach year end, now is the time for small business owners to start having conversations with their CPA or EA regarding tax strategies for 2024. You are likely in need of a conversation about tax [...]
Year-End Tax Strategies Hello Everyone! October is a perfect time to start having conversations (if you have not already) with your CPA or tax planner to determine what your Year-End liability is projected to look like and make adjustments if needed. In this month's newsletter, we will focus on some important tax information from [...]
