Small Business Finance

Taxes are a fact of life for small business owners, but smart planning can keep more money in your pocket. As a business owner in Essex County, New Jersey  – whether you run a boutique in Short Hills or a consulting firm in Roseland – you know every dollar counts. This guide to small business tax deductions NJ entrepreneurs can use will walk you through ways to lower your tax bill legally. We'll cover common deductions, NJ-specific tips, and how proactive tax planning can ma

If you’re a small business owner in Livingston, Short Hills, or anywhere in Essex County, NJ, you’ve likely heard about S-Corporations as a way to save on taxes. Running your business as an S-Corp can indeed cut your tax bill but only if you balance your salary and shareholder distributions correctly. Pay yourself too little salary and you risk IRS penalties; pay yourself too much and you might miss out on tax savings. In this guide, we’ll break down S Corp salary vs. distrib

Keeping your books accurate means more than just recording transactions. Every month, your financial records need a checkup — that process is called reconciliation. For small business owners in Livingston, NJ, and across Essex County, regular bank and credit card reconciliations are the foundation of reliable financial statements and smooth tax filings. Here’s your step-by-step playbook to reconcile like a pro (or with your CPA’s help) every month. What Is Bank Reconciliation

Whether you’re a consultant, contractor, designer, or medical professional in Livingston, NJ, understanding your chart of accounts (COA) is critical to managing accurate financial records. This foundational bookkeeping structure determines how every transaction flows into your reports — and ultimately how you make decisions and file taxes . Let’s break down what a chart of accounts is, why it matters, and how to tailor one for your New Jersey service business. What Is a Char

Understanding financial statements can seem overwhelming for many business owners. However, having a solid grasp of these documents is crucial for making informed decisions and steering your business towards success. This guide aims to simplify the essential components of financial statements, allowing you to read them like a Chief Financial Officer (CFO). By the end, you will understand the income statement, balance sheet, and cash flow statement, along with key metrics that

Choosing between cash and accrual accounting is one of the most important decisions a small business owner can make. For businesses in Livingston, NJ, and throughout Essex County, the method you select affects how you record income, manage taxes, and interpret your company’s performance. This guide explains the differences between cash and accrual accounting, how each impacts your books, and how to decide which method best fits your business goals. A calculator and tax docum

Running a small business in Livingston, NJ comes with enough moving parts — managing clients, vendors, and daily operations — that bookkeeping can often slip down the priority list. Yet accurate bookkeeping isn’t just about compliance; it’s the backbone of financial clarity, smarter tax planning , and long-term profitability. In this guide, we’ll walk through the fundamentals of small-business bookkeeping, why it matters, and how you can implement simple, effective practices

In the fast-paced world of small business finance, maintaining accurate bookkeeping is not just a necessity; it’s a cornerstone of success. For business owners in New Jersey, developing strong bookkeeping habits can significantly improve decision-making and ensure tax readiness. This blog post will explore five essential bookkeeping habits that every NJ business owner should build, along with practical QuickBooks tips to streamline the process. By the end of this post, you’ll