Making the leap from being employed to becoming self-employed is an exciting milestone! You now have the flexibility to set your own schedule, choose your clients, and potentially earn more than you would in a traditional job. However, with these perks come new responsibilities, especially when it comes to taxes. One of the biggest changes … The post Accounting Firm Shares Tax Tips for the Newly Self-Employed appeared first on Evan Hutcheson, CPA, LLC ..read more

Every small business owner should expect financial challenges at various points of the business’ life cycle. It may come at the beginning while trying to get the idea off the ground, or sometime later when the operation is ripe for expansion. Fortunately, there are business loans that can bridge these fiscal gaps, with programs from … The post Financing Your Business: SBA Loans Explained by a CPA appeared first on Evan Hutcheson, CPA, LLC ..read more

Payroll accuracy and compliance directly impact a company’s financial health and employee satisfaction. As such, it’s essential for SMBs to implement efficient payroll processes to avoid costly errors and potential legal issues. Ensuring a streamlined payroll system helps maintain smooth operations and promotes a positive work environment. With the rise of hybrid work setups, where … The post Streamlining Payroll for Hybrid Work: CPA Firm Tips for SMBs appeared first on Evan Hutcheson, CPA, LLC ..read more

Small to medium-sized businesses (SMBs) in Nashville often grapple with numerous challenges, from managing daily operations to strategizing for growth. One critical area that can become particularly overwhelming is financial management. For many business owners, trying to keep up with bookkeeping, tax compliance, and financial planning can detract focus from running their actual business. This … The post Should Your Business Outsource to a Virtual Nashville CPA? appeared first on Evan Hutcheson, CPA, LLC ..read more

Discovering an error on your business tax forms can be a heart-stopping moment for any business owner in Nashville, TN. Maybe you’re reviewing last quarter’s financials and realized you may have overpaid, or worse, underpaid your taxes. Such errors are not uncommon, given the complexities of tax laws and the numerous responsibilities business owners have … The post Nashville CPA Firm: What to Do If You Spot Errors on Your Tax Forms appeared first on Evan Hutcheson, CPA, LLC ..read more

Small businesses in Nashville and other parts of the state are ready to feel the relief provided by the modified Tennessee Works Tax Act. Announced in early 2023, some of the legislative changes start to apply this year. They’re said to be part of the biggest tax cut in the history of the state. If … The post Accounting Firm Explainer: Tennessee Business Tax Changes appeared first on Evan Hutcheson, CPA, LLC ..read more

No business owner wants to deal with an IRS audit. While the chances of being selected for one are slim, they’re not zero. Some audits are random, while others stem from red flags on the taxpayer’s return. Auditors also have three years from the time a tax return was submitted to trigger the process. Simple … The post Straight from a CPA: How to Avoid a Small Business Tax Audit appeared first on Evan Hutcheson, CPA, LLC ..read more

Most startups tend to choose cash-based accounting in the early stages of the business. This is primarily because recording income as it comes in is straightforward and easy to understand. While there is nothing wrong with this, businesses that have been around for a while and are starting to expand may face issues with cash-based … The post A Startup’s Guide: Moving from Cash-Based to Accrual Accounting appeared first on Evan Hutcheson, CPA, LLC ..read more

The 2024 tax season in Nashville, like most of the country, kicks off later this month. If you’re just now getting around to the prep work for filing your taxes, it’s already cutting it close. While the April 15 deadline may still seem far-off, an accounting firm will advise you to get started as early … The post Navigating the 2024 Tax Season: Tips from a Pro Accounting Firm appeared first on Evan Hutcheson, CPA, LLC ..read more

Payroll processing might be a fact for any kind of business, but the burden of this crucial function can be overwhelming for small business owners. Doing it themselves means an additional task to juggle along with everything else, while hiring full-time staff for it leads to expenses for which they might not be prepared. This … The post Delegate to Elevate: Why You Should Outsource Payroll to a CPA Firm appeared first on Evan Hutcheson, CPA, LLC ..read more