Ana Bradfield

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Articles

How to Properly Classify Independent Contractors vs. Employees

Nov 29, 2024 | thevalleybusinessjournal.com | Ana Bradfield

Classifying workers as independent contractors or employees is a critical decision for businesses. Misclassification can lead to legal penalties, tax liabilities, and damage to a company’s reputation. Understanding the differences and applying the correct classification is essential. Key Differences The distinction between an employee and an independent contractor lies primarily in the degree of control and independence in the working relationship.
The Benefits of Hiring an Outsourced Controller for Small to Medium-Sized Businesses

Nov 1, 2024 | thevalleybusinessjournal.com | Ana Bradfield

In today’s competitive business landscape, small to medium-sized enterprises (SMEs) face numerous financial challenges. One effective solution gaining traction is hiring an outsourced controller. This strategic move can provide various benefits, enabling SMEs to focus on growth and efficiency while ensuring robust financial management. Cost EfficiencyOne of the most significant advantages of outsourcing a controller is cost savings.
Why Timely S-Corp Tax Filing Matters

Sep 2, 2024 | thevalleybusinessjournal.com | Ana Bradfield

Filing your S-corp business taxes on time is crucial for maintaining the financial health of your company and avoiding potential penalties. While the tax code can be complex, understanding the importance of timely filing can help you navigate the process effectively. Avoid Costly PenaltiesThe IRS imposes significant penalties for late S-corp tax filings. These penalties can quickly add up and erode your business’s profits. In addition to the base penalty, interest charges accrue on any unpaid taxes.
Taming the Financial Monster: How Small Business Accounting Reduces Stress

Aug 1, 2024 | thevalleybusinessjournal.com | Ana Bradfield

Running a small business is a thrilling rollercoaster. But amidst the highs of achieving your goals, the financial side of things can often lead to sleepless nights and constant worry. This is where small business accounting comes in – a powerful tool to not only manage your finances but also significantly reduce anxiety and stress. So how exactly does organized accounting bring peace of mind? The answer lies in knowledge and control. Are you making a profit? Can you afford that new equipment?
The Unsung Financial Hero: Why Your HR Manual Matters

Jul 1, 2024 | thevalleybusinessjournal.com | Ana Bradfield

Human Resources (HR) departments are often seen as the guardians of employee wellbeing and company culture. But their role extends far beyond ping pong tables and team-building exercises. A well-crafted HR manual can be a company’s secret weapon in the financial arena. Cost Control Through ClarityAn HR manual acts as a central source of truth for all things employment-related. It outlines policies on everything from compensation and benefits to time off and disciplinary actions.
Don’t Get Taxed by Bad Advice: Why a Tax Pro Beats Social Media

May 28, 2024 | thevalleybusinessjournal.com | Ana Bradfield

Taxes. One word that can send shivers down even the most organized spine. But in the age of instant information, wouldn’t a quick social media scroll provide all the tax tips you need? Not quite. Here’s why a trusted tax professional trumps online advice every time. The Peril of Popularity: Social media thrives on trends and engagement. This can be great for cat videos, not so much for complex financial matters. A catchy “tax hack” might go viral, but its accuracy is suspect.
Why Small Businesses Need Strong Accounting Cybersecurity

May 1, 2024 | thevalleybusinessjournal.com | Ana Bradfield |Julie Ngo

For many small businesses, accounting feels like the lifeblood. It tracks income, expenses, and overall financial health. But what happens when this vital system is compromised? Cybersecurity threats are a growing concern for businesses of all sizes, and small businesses are especially vulnerable. Hackers often target them because they may have weaker security measures compared to larger corporations.
Don’t Miss Out: Why Tracking Client Meetings, Meals, and Mileage Saves You Tax Dollars

Mar 31, 2024 | thevalleybusinessjournal.com | Ana Bradfield |Corie Maue

As a business owner, every dollar counts. Especially when it comes to tax time, maximizing deductions can make a significant difference in your bottom line. Three key areas to keep a close eye on are client meetings, meals, and mileage. By diligently tracking these details, you can unlock valuable tax benefits and save yourself a financial headache. Firstly, client meetings are often the cornerstone of building relationships and securing deals.
Navigating the Waters of Small Business Tax and Finance

Mar 1, 2024 | thevalleybusinessjournal.com | Ana Bradfield

Running a small business comes with its share of challenges, and managing taxes and finances is undoubtedly one of the most crucial aspects. In a world where regulations are constantly evolving, staying informed and proactive is key to the financial health and success of your venture. Understanding the basics of small business tax is the first step towards building a solid financial foundation.
Navigating the Maze: Who to Trust With Your Taxes?

Jan 31, 2024 | thevalleybusinessjournal.com | Ana Bradfield

Tax season can be a stressful time, and choosing the right tax professional can make all the difference. But with a confusing alphabet soup of credentials like CPA, EA, CRTP, AFSP, and PTIN, how do you know who you can trust with your finances? Let’s break it down:The Big Three:Certified Public Accountant (CPA): These are the gold standard, holding a rigorous accounting degree, passing a national exam, and completing state licensing requirements.