Virginia A Frantzeskakis, CPA, PLLC

The most expensive bookkeeping habit we see is not a complicated one. It is running personal and business spending through the same account.

It is not a failing. It is what happens when a business grows out of something you started at the kitchen table. But every mixed transaction is one that somebody has to sort out later, usually in April, usually from memory.

The fix takes twenty minutes at a bank. Open a second account and run the business through it. The sorting takes care of itself from there, and so does the paperwork if anyone ever asks to see it.

(713) 898-3087 · vafcpa.com

September 15 is two weeks out. Three things land on that date: Q3 estimated tax payments, extended partnership returns, and extended S-corp returns.

If you are not sure which of those apply to you, that is a normal question and a quick one to answer. Give us a call.

(713) 898-3087 · vafcpa.com

IRS launches online tool to help taxpayers manage tax debt Taxpayers can explore payment plans, collection delays, or compromise offers through a streamlined, privacy protected tool.