Thrive!
“Nuggets for 6 Figure Small Businesses and More”
Business Advisory vs. Traditional Accounting: What You Really Need
When it comes to managing your business’s finances, there’s a key difference between traditional accounting and business advisory services. Traditional Accounting: Focuses on compliance—bookkeeping, tax preparation, and financial statement generation. Business Advisory: Offers strategic insights,...
How to Prepare for Tax Season Without Stress
Tax season doesn’t have to be stressful. With the right preparation, you can tackle taxes head-on and avoid last-minute panic. Here’s how: Organize Your Records:Keep all receipts, invoices, and bank statements in a centralized location. Digital tools like Financial Cents can help. Reconcile...
The Hidden Costs of DIY Bookkeeping
DIY bookkeeping might seem like a cost-effective option, but it often leads to costly mistakes and missed opportunities. Here’s how doing it yourself can hurt your bottom line: Errors in Financial Records:Without proper training, it’s easy to misclassify expenses, leading to inaccurate financial...
How to Pay Yourself Consistently as a Business Owner
One of the most common struggles for service-based business owners is inconsistent personal income. It’s hard to plan your life when you’re not paying yourself regularly. The good news is, it doesn’t have to be this way. Here’s how to set up a system for consistent pay: Establish a Business...
Is Your Business Ready for an IRS Audit?
Imagine this: you’re growing your service-based business, but then you receive an audit notice from the IRS. Panic sets in. Are your records in order? Have you filed everything correctly? Here are steps to make sure your business is audit-proof: Keep Detailed Records:Always maintain receipts,...
The Tax Strategies Every High-Earning Business Owner Should Know
As a service-based business owner, you might feel like taxes are eating into your profits. The truth is, there are strategies to minimize your tax burden, but they require proactive planning and expertise. Here are five tax-saving strategies tailored for businesses earning $250,000+ in annual...
Why Service-Based Business Owners Need a CFO-Level Advisor
As a service-based business owner earning $250,000 or more annually, you've likely faced challenges such as inconsistent cash flow, growing expenses, or difficulty forecasting your financial future. This is where CFO-level advisory services come in. A CFO-level advisor helps you make sense of your...
Deductibility of Financed vs. Leased Business Vehicles: What You Need to Know
When it comes to acquiring a business vehicle, many business owners face the dilemma of whether to finance or lease. While both options provide access to a vehicle for business use, the choice can significantly impact your tax deductions. Here's a breakdown of the deductibility considerations for...
Comprehensive Guide to Business Deductions: Maximize Your Savings
As the owner of TNT Accounting Services, LLC, I'm excited to share our comprehensive guide to business deductions to help you save on your taxes. At TNT Accounting Services, we understand the unique financial needs of service-based businesses like yours. Here’s a breakdown of areas to consider...
Understanding the Benefits of Converting Your Business to an S Corporation
If you’re a business owner, you might have heard about the advantages of converting your business to an S corporation. But what exactly does this mean, and how can it benefit you? An S corporation is a type of business entity that allows the company’s income, deductions, and credits to be passed...
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TNT Accounting Services, LLC
10310 Memory Lane Suite 2E,
Chesterfield, VA 23832
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(804) 425-5516
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Monday – Thursday: 10AM – 5PM EST
Friday: 10AM – 3PM EST
Saturday: 10AM – 3PM EST
(Saturday hours are February through April only)