S Corp Status: When It Makes Financial Sense for Your Business
Thinking about S-corp status? Learn when it makes financial sense, the pros and cons, and requirements — plus how you can use a CPA to help you decide.
An Independent Contractor’s Guide to Filing Taxes
The process of filing and paying taxes as an independent contractor is both different and more complicated than that of a W2 employee. Here’s what you should know.
Understanding Financial Statements: A Guide for New Business Owners
Learn why accurate financial statements are crucial for small businesses. Understand P&L, Balance Sheet, and Cash Flow to make informed decisions and grow your company.
Independent Contractor vs. Employee: Who Should I Hire?
As a business owner in the post-COVID era, you’ve probably wondered if you should hire an independent contractor instead of an employee. After all, there are lots of independent contractors and freelance workers out there these days! And it may seem like an easy way to bring on talent, without all the paperwork and extra […]
How To Get the Most Value From Your CPA
When people invest in a CPA, they often want to know how to get the most value from the CPA’s services. What should they ask? What information should they provide? How involved should they be in the processes? To ensure your financial, personal, and business goals are met, Wood CPA has some tips on how […]
Thinking of Opening a Franchise? Read This First
Many people are thinking about opening a franchise these days, and it’s easy to see why. Franchises are a smart business model that allows you to open your own business and be your own boss with the benefit and security of an established, successful brand. As a business owner myself, I always encourage people to […]
2023 Tax Changes to Look Out For
Adjustments to federal tax brackets, deductions, credits, and more are not new—they happen every year. This year’s changes are small and are largely related to inflation, but regardless it’s important to be informed about them so you can make any necessary adjustments for next year’s taxes. Let’s take a look at the 2023 tax changes […]
Preparing for Tax Season 2022: What Your CPA Needs From You and What To Expect
This blog was originally published on January 25th, 2022 but has been updated on January 18th, 2023. Tax season is upon us, which means it’s time to start preparations for your 2022 tax return. Whether this is your first or your fiftieth year filing taxes, preparing for tax season can be stressful and often frustrating […]
Wood CPA Celebrates 3 Years!
This month, Wood CPA is celebrating a big milestone: three years in business! Three years might not seem like much, but for a small business, those first three years can be the difference between success and failure. And we’re proud to say that Wood CPA has proven itself to be very much a success! In […]
How Can I Lower My Tax Bill: 10 Tips For Small Businesses
As a small business owner, you might not be aware of all the deductions, credits, and other business income strategies that can help you lower your tax bill. That’s why we put together a list of 10 quick tips to help you keep your income where it belongs: out of the government’s coffers, and in […]