RLM CPA

08/30/2023

Bookkeeping is not for the faint of heart. We get that it can be tempting to bury old receipts and records until tax season is here, but don’t make that mistake! Waiting can prevent you from claiming all the correct deductions that you may qualify for. By paying attention to your records throughout the year, it will help you stay prepared and have all your papers ready. Spend more time focusing on your business and let us handle the rest! Call us at to speak to one of our finance professionals.

08/29/2023

What exactly is hedging? In finance, a hedge is a strategy that seeks to limit risk exposures in financial assets. It is mainly done by taking offsetting positions in derivatives that correspond to an existing position. This strategy is usually utilized as a type of "insurance policy" on an investment or portfolio. Have any additional questions? Ask them in the comment section below, and if you're looking for additional help with your finances, please give us a call at today!

08/28/2023

Account reconciliation is particularly useful for explaining any differences between two financial records or account balances. Some differences may be acceptable because of the timing of payments and deposits. However, unexplained or mysterious discrepancies may warn of fraud. Businesses and individuals may reconcile their records daily, monthly, quarterly, or annually. Do you have accounting questions? We have the answers! Talk to us at .

08/25/2023

No one enjoys tax season, but getting a head start on your filing can make the process much smoother. Tax planning months in advance is an effective way to ensure you are prepared for when it's time to file! Here are some helpful tips that can help simplify things come next year:

For all your tax-related questions, contact us at . We'd love to help you!

You've got plenty of tax time to file next year's taxes, but will you be ready when tax season rolls around? When it comes to tax planning, it's never too early to get started. Taxes can be complicated, but they don't have to be. There are several steps you can take throughout the year to

08/23/2023

If you are getting married this year, you might be wondering how that will affect your Roth individual retirement account (Roth IRA) and that of your partner. The simple answer? Nothing will change with either of your accounts. The only time it will change is when your combined income is higher than the income limits set by the Internal Revenue Service (IRS) for Roth IRAs. Unfortunately, you can't prevent this outcome by either filing separately or contributing to your Roth IRA before your wedding day. The good news is we can help with other aspects of your retirement plans so it can offset these recent changes. Contact us today at !

08/22/2023

We're here to answer any and all questions you have! Stop being your own accountant. Talk to us today at about how our comprehensive service can benefit your business!

08/21/2023

Overspending can really hinder your ability to achieve your financial goals and leave you scrambling to cover your bad money moves. By understanding your spending habits and triggers, you can better prevent mindless purchases. Take a close look at the "why" behind your spending to identify any psychological and emotional reasons that cause you to overspend. Keep a spending diary to help you identify such triggers by including your feelings before and after purchasing as well as how much you spent. This can help you limit how often you give in to the urge to impulse buy. We keep your finances in order so you can continue focusing on what you love! Call us at to schedule a consultation.

08/18/2023

Mistakes on your business tax return can have serious consequences, so it's important to understand when you should file an amended one. Common situations that require amendment include if the errors change what you owe in taxes or misrepresent details about your company's fiscal standing.

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Realizing you’ve made a mistake on your business tax return is a stressful situation. Fortunately, businesses can amend their tax returns within three years of the original filing date. This can help your company get ahead of potential tax problems, resolving issues long before they attract audits...

08/16/2023

Sole proprietors may also be eligible for certain business tax deductions, including business expenses, health insurance deductions, and self-employment taxes. We can provide you with more personalized information when you call .

08/15/2023

It can be convenient to use your credit card to pay for a purchase, but it's possible to become far too dependent on credit cards and increase the likelihood of creating a habit of overspending. Consider committing to spending money using cash, checks, or debit cards only as a means to curb your spending habits. Cash-only purchasing forces you to stick to your original buying plan and stop spending when the money runs out. At the end of the month, review your budget and purchases in comparison to previous months. Guidance to navigate through life's challenges towards financial success is just a call away! Contact us at .

08/14/2023

Reduce Taxable Income - Participate in an employer-sponsored retirement plan or an individual retirement account. For more information, contact us at .

08/11/2023

As a savvy business owner, you already know some great ways to reduce your tax bill. But have you heard about the 'hidden gems' of deductions? Read on for these lesser-known ideas that can give valuable relief and put more money back in your pocket!

For all your tax-related questions, contact us at . We'd love to help you!

When you operate a business, whether a startup or an established company, you may overlook potential deductions that can save you money during tax time. As a business owner, you are probably familiar with some commonly used deductions, but other lesser-known deductions can reduce your tax bill even....