If you’re self-employed, every legitimate tax deduction matters. Yet many sole proprietors, freelancers, and independent contractors miss valuable deductions simply because they aren’t familiar with the rules or fail to keep adequate records. Here’s a quick overview of the filing requirements for self-employed taxpayers, along with five commonly overlooked deductions
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Bookkeeping vs. Accounting: What Small Businesses Need to Know
According to the U.S. Chamber of Commerce, there are more than 33 million small businesses in the United States today. In an increasingly competitive marketplace, one of the most important — yet often overlooked — elements of long-term success is maintaining accurate books and records. Whether you’re just launching a
Continue ReadingIs Outsourcing Bookkeeping the Right Move for Your Business?
Running a closely held business is no small feat. Owners often prioritize core operations — managing employees, serving customers, and driving sales — while tasks like bookkeeping fall to the bottom of the to-do list. But overlooking the financials can be risky. Complex accounting rules, paired with the time-consuming nature
Continue Reading5 QuickBooks Reports to Review Each Month
Understanding your business’s financial health is essential for long-term success. QuickBooks® offers a powerful reporting tool suite that can provide critical insights to support decision-making and help you comply with accounting and tax rules. Accrual-basis QuickBooks users should get in the habit of reviewing the following five reports monthly to
Continue ReadingClosing Time: Mastering Your Monthly Close with QuickBooks
The month-end close is a pain point for many small to midsize businesses. While internal accounting teams often aim to wrap up the close within three days, a recent survey found that half the respondents actually take six days or longer to close the books. What can your organization do
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"Owning my own business, and being a one-woman show, I need the help of others. Trinity Small Business Solutions has shown me that they can bring everything together to be organized, orderly, and easy to manage. Taking the worry out of the equation, lets one do what they need to do, in order to run their business without worry of all the numbers, and paperwork. I look forward to working with them, to help me have a solid foundation, and run my design business with peace of mind."
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"I am not a fan of taxes and accounting. It’s complicated, tedious, and frustrating! When Trinity took on my bookkeeping and taxes they made my life so much easier. They quick and helpful, whether it was a question about payroll or handling invoicing. I highly recommend Trinity Small Business Solutions!"
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"I just wanted to thank you for taking care of my bookkeeping. Since you have taken over I have more control and clarity of my balance sheet. I’m also thrilled to have access to QuickBooks Online. Being able to see my P&L online anywhere is great. It’s also so easy to give my financials to my CPA at the end of the year."