Carlsbad Bookkeeping Blog

The Basics of Payroll Management

Maybe you have a team of twenty, or maybe you just hired your first employee, either way, you know how important it is to make sure your employees actually get paid. If you’re not familiar with payroll management, you'll quickly find yourself searching for answers. Payroll management comes with an entirely different learning curve than say bookkeeping or year-end services, and without understanding the basics you'll hinder future employee relations with your business. Things like pay periods, unemployment tax, and worker's compensation are just the beginning. If you’re feeling overwhelmed, that's ok - let's explore some of the most important payroll basics for your business. We won't get into every possible rule of payroll management, here are a few basics to get started with creating an efficient payroll management system for your business.

Bookkeeping Costs for Your Business

Not to answer a question with another question, but how much is it costing your business by not having a dedicated bookkeeper? Bookkeeping costs depend on a number of factors, whether you're running a neighborhood restaurant or a multi-national conglomerate. When first starting out, many small businesses require the basic bookkeeping services such as paying bills (accounts payable), collecting accounts receivable, recording transactions, ensuring employee payroll accuracy and following state and federal tax regulations. These basic bookkeeping services cost a lot less than they're worth, and eventually all businesses outgrow these basic bookkeeping services. But that doesn't mean the cost of your bookkeeping services exceeds the benefits provided, nor will it ever. Businesses require consistent, accurate financial reports, delivered in a timely and efficient manner. This is where most businesses fall short in weighing the cost of their bookkeeping services, just focusing on compliance.

Why Do Businesses Outsource Bookkeeping?

As a lifelong Carlsbad resident, I often first meet a lot of our bookkeeping clients at their place of business. Most business owners we talk with are looking to outsource their bookkeeping because they simply don't have time to do everything. Running a business is hard work, you wear many hats every single day, we know - which is one reason why you need to outsource your bookkeeping. It seems like the responsibilities never stop, what was once a forty hour work week when you worked for someone else, is not even close to that now. Many days you struggle to find the time to even take lunch. Between serving customers, dealing with vendors, & building your business, most of your time every day is occupied running your business. And that's a good thing, it got you to where you are today! But...

Lots of Tax Changes Impacting Your Business In 2018

With all the withholdings, 1099s, & minimum wage changes, how can local businesses keep track of all these tax changes impacting your payroll management, sales tax, & worker's compensation? Running a business is difficult, we know. Unless you have an HR department who's on point, a qualified bookkeeper who settles everything down to the penny - not to mention a well-versed tax attorney & patient CPA - it's very difficult to keep track of all the important tax changes affecting your business from year to year. The financial and tax changes are the ones most business owners struggle with.

3 Changes Affecting Your Business Taxes This Year

Tax Reform & Your Business In 2018

The tax law was enacted following the passing of the tax reform legislation before the end of last year - the Tax Cuts and Jobs Act (TCJA). Three of the most popular points concern themselves with - from an employee & tax perspective - are the changes in employer withholdings, tax rate reductions for business owners, and wage base limits. We'll tackle the broad strokes of the most frequently asked tax changes affecting your business in 2018.

Organizing Your Business for Tax Season

The start of a new calendar year is a great time to organize your business for tax season. There's a saying that's been applied to both sports & business - and especially taxes...proper previous preparation prevents poor performance.  Organizing your business for tax season means taking the time to develop a plan by amassing the essential documents, reviewing last year's tax returns, and double-checking EVERYTHING over the past year. Getting your business prepared for tax season is even more important for those of you who are not clients, or who might be a little organizationally - challenged. Let's face it, for business owners tax time can be stressful, but there are things you can do now to minimize that stress & worry. The first thing is to get more organized, here's how...

Does Every Business Need A Bookkeeper?

Bookkeeping is important in any business whether small or large, neglecting this fact will only have an adverse effect on your bottom line. Some businesses lacking a dedicated bookkeeping system fail completely due to financial mismanagement, while others continue to operate on razor-thin margins supported by flimsy accounting records - or none at all. By definition, bookkeeping is the process of recording your business's financial transactions, it's the primary, essential step in guiding your business toward success and growth. Bookkeeping involves classifying, reporting and analyzing the financial data of your business. Without it, your business is essentially flying blind. And dead reckoning is no way to grow a business. The importance of bookkeeping for your business cannot be emphasized enough, take a look at our top five reasons why a dedicated bookkeeping system is vital to the health and growth of your business.

Bottom Line Management Has Gone Social!

Under extreme duress from teenage daughters, soccer mom friends, grandparents, plumbers, and even one elected official here in Carlsbad; we’ve decided to get Bottom Line Management on board with social media! We value our clients like family - and we’d like to not only communicate beneficial financial & bookkeeping related information on a regular on-demand basis - we’d also love for you to take a peek inside our business on a more personal level. We invite you to visit our Facebook page and become an active participant in our community. To do some checking up on the business chops, go ahead and have a looksie at Betty’s professional information on LinkedIn.

What Is Bottom Line Management On Social Media?

4 Tips to Improve Your Business Running a business, no matter how small, is an incredibly complex task. Handling the day-to-day operations while keeping an eye on the profits can be stress inducing. Juggling daily goals, customer service operations, employee management and more, small business owners...