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OSYB Blog: Number Crunch!

News and Views from OutSource Your Books, LLC

Tax Season 2017 Prep for Your Accountant

February 6, 2017 by Ed Becker

Tax season seems to pop right up nearly as soon as the holiday season ends. If you have stayed on top of your bookkeeping, and kept everything current, then tax season is not such a stressful time. If things have lagged behind, it is time to get it all in order for your accountant. By […]

Year End Small Business Accounting Tune Up (Update)

December 19, 2016 by Ed Becker

As a small business owner, you know that December isn’t just about holiday festivities and the holiday season. December is also another year end accounting season. It’s when you need to compile and prepare end of year documents for your CPA, so they can file everything for you before the upcoming deadline. Which accounting documents will your CPA […]

Year End Bookkeeping Checklist (Updated)

December 12, 2016 by Ed Becker

The year has come and gone and now it is time to get information to your CPA for tax return purposes.  A small business should be performing all of its essential accounting functions in a timely manner all year to ensure nothing is overlooked. This also could save you in CPA costs, if you are organized […]

2016 End of Year Tax Tips for Small Businesses

December 5, 2016 by Ed Becker

  Being near the end of the year, it might seem like you can’t do anything to benefit your company for tax filing, but this isn’t always true. Even if you have not planned for your tax year in advance in detail, you can still do many things that can benefit your filing. This discussion […]

Avoid Risky Business – Review Your Bank Statement Monthly

May 15, 2012 by Ed Becker

A client of ours (before becoming a client) lost $118,000 because they weren’t reviewing monthly statements.  I’m going to tell you this story – one that is all the more heartbreaking because the business (a bakery) was already on the brink – but first, some basics every small business owner should know (but many don’t): […]

10 Red Flags to Watch for When Reviewing Bank Statements

December 12, 2011 by Ed Becker

What’s the danger in not reconciling bank accounts regularly? Many small business owners simply log into their bank’s website for a quick review of cash balances instead of reconciling their accounts. Below, I’ll give an example of how relying on this quick case review can be a $100,000 mistake. Plus, I’ll give you 10 “red […]