Category Archives: Accounting

What is a BOI Report?

  The Beneficial Ownership Information Report (or BOI Report) is brand new – and if you own a business, you need to know about it sooner rather than later. Here’s what we know about the newest mandatory US filing. What is the BOI Report? The BOI Report was created by the FinCEN (Financial Crimes Enforcement […]

What is Net Worth?

Encurio employees seated at an outdoor table.

What is net worth? Generally it’s a term you hear most commonly when discussing celebrities and millionaires. But everyone has a net worth, and it’s important to understand and know what yours is. What is Net Worth? It’s simple! Think of it as your personal balance sheet. Essentially, it’s the value of everything that you […]

Are office parties deductible?

A still from US show "The Office" of their holiday party. Dwight, Pam, Michael, Ryan, and Jim stand in front of the Christmas tree looking uncomfortable.

December is right around the corner which means it’s time to start planning your office holiday party! Holiday parties are a great opportunity for you and your employees to bond and relax outside of work. But are office parties deductible? Office Parties Are Deductible… Sometimes Office parties in general can be deductible, but as is […]

The Benefits of Good Financials

A woman sits at her desk, reviewing work on her computer.

Good financials are important – and not just for you, but for your entire professional circle! But what constitutes “good” financials and how do they help your professional relationships? Good Financials are the Key Your financials provide an accurate account of where your finances stand. They should cover your profit and loss statements, balance sheet, […]

How To Reduce Your Audit Exposure

Do you know how to reduce your audit exposure? Do you know what audit exposure is? Does reading the word “audit” just kind of stress you out? Then keep reading to figure out how to minimize your likelihood of being audited. The Basics on Audit and Audit Exposure A tax audit is basically a deep-dive […]

Should You Employ Your Kids?

CPA Tiffany and puppy Theo hard at work; Tiffany holds Theo at her desk while he types up an email.

Should you employ your kids? There’s recently been a renewed interest in this strategy on social media. People say that the rich “save money” by employing their kids – but is that true? And is it worth it for you to consider putting your kids on the payroll? Who Can Employ Their Kids? Technically speaking, […]

Setting Quarterly Goals

Setting quarterly goals is a great tool to help keep your business and your life on track. As we enter Q4, we have an excellent opportunity to review our year so far and set ourselves on-course for a successful year-end. Why Setting Quarterly Goals is Important Setting goals helps you build a framework for your […]

What is the PTET?

Trainee CPA Mackenzie at her desk, studying and enjoying a cup of coffee.

If you’re a small business owner, you’ve probably heard about passthrough entity tax – but what is it? Benefits of the PTET The PTET allows business owners to pay state taxes through their business and receive a credit for the tax paid on their individual return. It doesn’t change the amount of state tax owed […]

What is scalability?

A photo of CPA Gaby and CPA trainee Mackenzie reviewing a client tax file in front of Gaby’s vinyl record display.

Is your business scalable? As a small business owner, you’ve probably heard a question similar to this before. But what does it mean to be “scalable” and why is scalability important? What Is “Scalability” Scalability is the ability for your business to scale. It’s the question of whether or not your business, business plan, and […]