Lighthouse Small Business Solutions

01/25/2022

Separating your business and personal finances can save hundreds and even thousands of dollars.

Opening a business bank account will allow you to use accounting systems like QuickBooks, Wave, or even excel to help keep records of just your business.

You can also create a business account for Cashapp, PayPal, Venmo, etc. to send or receive all business-related transactions.

This will allow you to not only keep good records for taxes but also help orchestrate in seeing a clear picture of your business without the hassle.

01/10/2022

What is per diem? Do you know how to use it?

Per diem is an allowance paid to your employees for lodging, meals, and incidental expenses incurred when traveling. This allowance is in lieu of paying their actual travel expenses.

https://www.investopedia.com/articles/personal-finance/093014/understanding-diem.asp

Per diem is one method for reimbursing employees for business travel expenses. "Per diem" or day rate is a fixed amount of reimbursement paid to employees for daily lodging, meals, and incidental expenses incurred during business-related travel.

01/05/2022

With the New Year comes new mileage rates!!

New IRS standard mileage rates mean tax savings if you’re self-employed and drive your own car for business—and likely more money in your pocket if your employer reimburses you for miles driven.

11/02/2021

Beginning January 1, 2021, through December 31, 2022, businesses can claim 100% of their food or beverage expenses paid to restaurants as long as the business owner (or an employee of the business) is present when food or beverages are provided and the expense is not lavish or extravagant under the circumstances.

IR-2021-79, April 8, 2021 — The Treasury Department and the Internal Revenue Service today issued Notice 2021-25 providing guidance under the Taxpayer Certainty and Disaster Relief Act of 2020.

10/28/2021

We greatly appreciate your support and referrals. It drives our business, and we couldn't do what we do without you!

10/22/2021

Come join us this Monday the 25th at 2 pm. There will be refreshments and door prizes!
105 W 4th St. Suite 700
Winston-Salem, NC

10/19/2021

Top 11 Small Business Accounting Tips

1. Separate business and personal expenses

2. Track every business expense

3. Accurately record income

4. Consider hiring a professional, even if temporarily

5. Automate accounting practices with accounting software

6. Dedicate time to update your books

7. Keep tabs on labor costs

8. Be prepared for major expenses

9. Maintain inventory records

10. Follow up on invoices and receivables to avoid overpaying on taxes

11. Create financial projections for future years

Do you have time for all of this in your busy business schedule??

That's what we're here for! Let Lighthouse Small Business help make running your business easier!

10/15/2021

Lighthouse Small Business Solutions | 13 followers on LinkedIn. We help business owners better captain their ship through the turbulent sea of business. | Lighthouse Small Business Solutions was founded by Larry Johns in 2009. From a modest beginning, Lighthouse was established by Mr. Johns when he....

10/15/2021

Our partner Launch Tower is hosting a Ribbon Cutting Ceremony. Please come out and join us for a great time. Refreshments and Door Prizes. Mayor Joines and Council Member Scippio will be joining us. Find out what Launch Tower is and how you can leverage it to help your business launch to the stars.


105 W 4th St Suite 700
Winston-Salem, NC 27107

05/01/2021

Lighthouse Small Business Solutions has your back! We love our clients!