McLan Accounting Services, LLC

12/04/2024

As the end of the year approaches, it’s important to have all your accounting ducks in a row and maximize your deductions to make tax-smart investment decisions. This helpful guide can keep you on track to ensure you have all your finances in order. Contact us at (718) 871-8250 for all your tax-related needs - we are here to help you! https://bit.ly/48PeavR

12/03/2024

Have you started your estate planning yet? Check out this insightful article discussing the importance of estate planning regardless of your age. It is critical to be prepared in your financial life and take control of your resources. Not sure where to start? We can help! Call us at (718) 871-8250. https://bit.ly/3YHJsQS

12/02/2024

Your company's assets, liabilities, and owner equity are displayed on your balance sheet. In essence, it is a comparison of your assets and liabilities. Keep in mind, liabilities are what your business owes, and assets are what your business owns. Equity represents the ownership interest in the company and is calculated by subtracting the liabilities from the assets of your company. Contact us at (718) 871-8250.

11/29/2024

Did you know that repatriating funds can significantly impact your business’ financial strategies, investments, and competitiveness in the global market? Its true! It is a critical aspect of operating international business and requires careful planning to ensure optimum globalized economic performance.

The decision to repatriate funds can have profound implications for businesses, influencing their financial strategies, investment decisions, and overall competitiveness in the global market. Tax repatriation, the tax that applies when bringing profits earned overseas back to the home country, is a....

11/26/2024

"Many people avoid writing a will or creating a trust at all due to procrastination or superstition surrounding death, experts say. But reframing the estate planning process as leaving a positive legacy, rather than just distributing assets after death, can help clients take on a more compassionate long-term view." Questions about estate planning? Contact us at (718) 871-8250 to discuss your options.

Handling a deceased parent's estate can be complicated if there are surprises such as an uneven split of assets among children or a previously unknown heir.

11/25/2024

As a business owner, you don't want to get blindsided by any financial catastrophy. That's why having a risk management plan can better prepare you for anything that negatively affects your business. By applying the right resources and tools, you can minimize, monitor and control the negative events while focusing energy and attention on how to respond. If you're looking for the right help with your business, you've come to the right place. Schedule your first appointment with us today at (718) 871-8250

11/22/2024

Regardless of whether you’re a start-up company or a well-established enterprise, smart business planning is essential. Great tax planning ensures you are compliant with tax laws as well as maximizes your financial benefits while simultaneously minimizing liabilities.

Tax planning is a critical aspect of managing any business, whether you're a startup or a well-established enterprise. Proper tax planning not only ensures compliance with the law but also maximizes your financial efficiency and minimizes liabilities. Here are five crucial factors your business tax....

11/20/2024

It is advisable to retain documents such as payroll and inventory management records for tax and other business needs. When in doubt as to whether it's important to keep, scan and save the document to help avoid being caught without it! One effective technique to keep your bookkeeping records organized and accessible is to separate them into folders by record type and keep them on your computer in a password-protected file. Contact us for more information at (718) 871-8250.

11/19/2024

Wondering how to succeed in business? CONSISTENCY! In order to create long-term positive habits that increase your money-making ability, you need to do what is necessary on a daily basis. Customers value consistency. Prioritizing this helps to create a satisfied customer base every time! Let us handle your business accounting so you can focus on what you do best – running your business! Contact us today at (718) 871-8250 to get started.

11/13/2024

To address a business risk, there are five common strategies. They are risk avoidance, risk reduction, risk sharing, risk transfer, and risk acceptance and retention. When choosing the best strategy to work for you, consider combining multiple strategies. Have more questions about risk management? Our team is dedicated to help you. Contact us today at (718) 871-8250