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The Importance of Accurate and Timely Small Business Bookkeeping

If you’re a business owner, you know how complicated the finances can be! You work hard to keep track of daily expenses, pay your invoices promptly, and pay your employees. You try to make wise purchases and invest in your business without taking on too much debt. On top of that, many business owners also […]

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 […]

New Law Alert: Paid Family and Medical Leave (2026)

This past May, Governor Tim Walz signed a new bill that would entitle Minnesota’s workers to paid time off starting January 1, 2026, making Minnesota the 12th state in the nation to require such benefits. So, whether you are an employee or employer, it’s important to understand the bill, its benefits, and your tax obligations. […]

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 […]

The Importance of Professional Bookkeeping for Small Businesses

For small businesses, bookkeeping is an essential part of the tax planning process. Bookkeeping involves keeping track of your company’s financial transactions on a regular basis. With an organized log of all business expenses, you’ll be able to make accurate financial decisions and tax preparations. Key Takeaways:  Bookkeeping and accounting are technically two separate services–but […]

Need a CPA? You Probably Also Need Business Advisory Services

Many people who seek out CPAs simply want their tax return filed. But there are plenty of online tax preparation services that can help you file your taxes. You don’t necessarily need to enlist the services of a Certified Public Accountant for that.  So when do you need the services of a CPA? Well, most […]

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