Satty, Levine & Ciacco, CPAs, P.C. Blog

While the nuts and bolts of business budgeting can be quite simple, there is more to creating one than simply tallying income and expenses. Successful small businesses typically use a budget as a way to manage costs, set financial goals and create a plan to reach them. If your company is small and growing, now might be the right time to revisit your approach to budgeting.

The capital gains tax often applies to the sale of assets. If you sell something for more than you spent to acquire it, your sale may be considered a capital gain. If so, you may have to pay taxes on the profits.

With the tax deadline getting closer and closer, you may not think you will be able to get all your paperwork together in time. But, that’s okay. Almost any company can qualify for a business tax extension just by following a few simple steps.

Late last year, Congress passed the Tax Cuts and Jobs Act to trigger economic growth with changes to the corporation tax. These adjustments to the Federal tax code have the potential to impact businesses of every size. If you own a company on Long Island, you will benefit from getting up to speed on these changes fast.

One of the most important choices your business can make is choosing an accountant. In order to find the right match, you must be prepared. If you are in search of a new accounting firm for tax season, asking these five tax questions will give you the answers you need to make a smart decision.

A business line of credit is one of the best ways to provide a financial lift to your growing company. While it may appear that all you need to do is pay down the principal, this type of loan can also have income tax implications worth considering.

Financial management is a balancing act, especially for new small businesses. From opening bank accounts to balancing the books, there is a lot to learn in a short period of time. However, it is possible to put your business on the path to financial stability if you follow a few simple tips.

It’s a common question that’s not easy to answer. Is it better to focus on long term or short term investments? Since each strategy has its own advantages and disadvantages, the better choice tends to vary according to your unique financial situation.

A cash flow analysis is a simple examination of your business’ finances that should be performed on a regular basis. This financial planning tool examines the money that comes in and out of your business over a specific period of time. It is a study of how your company generates its revenue, where the money is coming from and how it relates to the overall value of your business.

If residential or commercial holdings are a significant portion of your financial portfolio, you may have a lot to gain from enlisting the services of a professional real estate tax accountant.