Author name: Elizabeth Stroup

Monthly Accounting: The Tool Smart Business Owners Use to Increase Profit 

Bookkeeping & Accounting Systems /

If you only look at your numbers once a year, you’re trying to run a business based on financial guesses. Guessing wrong can cost you dearly.  Monthly accounting is different. It turns your numbers into a tool that saves you time and money.   Annual tax survival mode is sometimes enough to keep the IRS off your back, and it can seem like a […]

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Should I Offer a Retirement Plan to My Employees? 

Business Growth and Strategy /

At some point, every growing business runs into this question:  “Do I need to offer a retirement plan?”  What looks like an employee benefit decision is really a business and tax strategy decision. Get it right, and you can save more for yourself, reduce taxes, and improve retention. Get it wrong, and you’re stuck funding a plan

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4 Key Questions You Should Ask Before Hiring an Accountant—And Our Straight Answers 

Business Growth and Strategy /

Most business owners don’t know what to ask when hiring an accountant. And too many firms make vague promises, or set no expectations at all. So here are some clear, direct answers from Bearden Stroup CPAs to 4 key questions you should ask before you choose an accountant.  What does your pricing include (and what doesn’t it)?  Software: Our quotes will include subscriptions to the software that you need, so you don’t have to pay

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Can A Business Deduct Bad Debts? 

Bookkeeping & Accounting Systems, Tax Strategy for Small Business /

Business owners often ask if they can write off bad debts from customers. The answer depends on whether the taxpayer is using the cash basis or the accrual basis of accounting. For cash-basis taxpayers, however, the short answer is no. You generally can’t take a deduction for unpaid amounts because your taxable income already shows only the cash you actually received.  Cash Basis vs. Accrual Basis Accounting  Why Cash-Basis Taxpayers Don’t Deduct Unpaid Invoices  At

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The Hidden Costs and Risks of Writing Checks: Why Small Businesses Should Rethink This Habit 

Bookkeeping & Accounting Systems /

For many business owners, paper checks feel familiar, straightforward, and tangible.  But in today’s business environment, this method creates hidden risks, inefficiencies, and expenses that you didn’t see coming.  As bookkeeping systems, banks, and vendor processes have evolved, checks haven’t kept pace. What once felt simple is now one of the most cumbersome, expensive, and fraud-prone ways to move money.  Here’s what every business

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Reasons to Start a New LLC 

Business Growth and Strategy, Tax Strategy for Small Business /

When to Create a Second Legal Entity Separate from Your Main LLC  Most small businesses begin with a single LLC, and that is usually the right approach. One entity is usually simpler, cheaper, and easier to manage. But as a business accumulates assets, expands activities, or engages in more complex transactions, sometimes a second LLC is not only reasonable, but strategically

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Debt Is a Tool—Here is the Safety Manual 

Business Growth and Strategy /

Having a healthy fear of debt is good thing—it can ruin lives if it’s used recklessly. But debt can also create positive results when it is used responsibly.  Debt is a tool. Just like a chainsaw. Use it the right way, and you can clear a path. Use it wrong, and you can lose a leg.  Here’s what too many people miss: debt magnifies everything. It

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How to Transition from Weekly to Bi-Weekly Payroll Without Losing Your Team 

Business Growth and Strategy /

If you run a small business with a handful of employees, switching from weekly to bi-weekly payroll might sound like asking for trouble. Guys count on that Friday check. It’s part of the rhythm. Mess with it, and you risk complaints, confusion, or worse—losing good people.  But here’s the truth: if you do it right,

How to Transition from Weekly to Bi-Weekly Payroll Without Losing Your Team  Read More »

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