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Staying Compliant this year, and beyond.
Small Business Audits in the Wake of COVID-19
There is much speculation that with the IRS’s increased budget, the agency’s ability to focus more attention on small businesses is being greatly amplified.

Tax compliance and enforcement are two areas that the IRS will be able to pay extra attention to, and smaller businesses are thought to typically have fewer resources at their disposal, making them more susceptible to tax mistakes. read more

Fortunately, the compliance and financial integrity of your small business is our top priority. And regardless of the rules, regulation, or likelihood that you will be audited, we are committed to keeping your small business tax and audit ready at all times.

Over the past month we have been focused on internal compliance audits; including bookkeeping & financial, sales tax, payroll & labor, contract labor, financial systems and processes.

Here are some compliance matters affecting small business this year:

If there are any areas of concern for your business, or suggestions for improvement, we will let you know!
Mid-year Checklist & Reporting
The half-way point of the year is a great time to make sure you have all your ducks in a row!

By taking the time now to tidy the first six months of the year you can rest assured that you have accurate financial information for planning, you're meeting small business requirements, and reduce the amount of work needed to be done for the upcoming tax season.

Please take the time to ensure that you have submitted Mid-year Checklist items for the first 6 months of 2023.

Upon completion of your June close, your Mid-year review will be completed.
For your convenience, financials are always available in your QuickBooks Online. (To the extent that we have your documentation, of course!) Please let us know if you need help navigating any financial reporting.

Financial reporting in your QuickBooks Online should not be used for tax or strategic planning when current information has not been made available.
Fall Meetings & Support
If you're caught up and you know it, book a meeting!

Upon completion of the mid-year review cycle, we will begin Fall meetings. If you would like to discuss your small business finances, make sure you're on track for year end, or have questions about services, please use this link to find a time that works for you.

This link will remain open if you would like to use this meeting to ensure you are on track as we enter into the final months of the year.

We are here to help! In addition to meetings, support is always available for any small business matters we can assist with.
email | info@bellsolutions.biz
text or call | 402-314-8460
Bell Solutions | bellsolutions.biz