Johanson & Associates
We are a Texas-based financial professional with over twenty years of progressive business experience in a variety of industries.
If your records are disorganized, you have inaccurate financial reports, cash flow problems, and issues with tax compliance, your bookkeeping system is likely failing you. Healthy bookkeeping is essential for your business success. Take the proactive steps to organize your records effectively to avoid devastating professional mistakes to ensure the long-term financial health of your company.
5 Signs Your Bookkeeping Is Failing | www.financialhotspot.com Bookkeeping is the backbone of any successful business. It's the process of recording, organizing, and managing financial transactions. When done right, it provides valuable insights into your company's financial health and helps you make informed decisions. However, if your bookkeeping is failing,....
People get a letter from the IRS and automatically freak out thinking it's an audit, but in many cases, it's just an adjustment letter. An adjustment letter from the IRS typically provides notice that you owe additional taxes or that they have adjusted your refund amount. If you owe additional tax, it’s important to either pay the tax by the deadline or, if you believe the tax liability is wrong, to respond following the instructions and timeline in the letter. Contact us at (832) 527-2728 for assistance.
You probably won’t remember January’s expenses when you wrap up your yearly account in December and that’s okay! That is why we are here to help – give us a call at (832) 527-2728. Don’t make the mistake of some business owners who wait until the last minute to start thinking about your accounting. This often leads to financial troubles as a result. Take control of your finances by keeping up-to-date monthly bank reconciliations to prevent year-end scrambling.
Two important tax breaks to take advantage of are the Lifetime Learning Credit and the Student Loan Interest Deduction. For the Lifetime Learning Credit, you may deduct 20% of the first $10,000 you paid in tuition and fees with up to a maximum of $2,000. Living costs and transportation are not included in the list of allowable expenses; however, books or other supplies required for coursework may be claimed. Regarding the Student Loan Interest Deduction, borrowers who paid interest on their student loans may deduct up to $2,500 from their taxable income. Give us a call at (832) 527-2728 today!
International tax requirements can be incredibly difficult to navigate, especially if you are self-employed and conduct business worldwide. It is vital that one learns the tax compliance laws when handling business globally to ensure that no penalties are accrued.
Self-Employment and International Taxes | www.financialhotspot.com Navigating international tax obligations can be complex, especially for self-employed individuals who conduct business across borders. Understanding the tax implications of self-employment income earned abroad is crucial for compliance and avoiding costly penalties. In this blog post, we'll explore....
Once you've pinpointed your income sources, the next step in retirement income planning is to determine what expenses you will be paying for throughout your retirement. Doing so will give you a clearer picture on how much money you will need to save for to live comfortably in retirement. If you're looking for any assistance with your retirement plan, we're here to help. Call us at (832) 527-2728 to schedule your appointment today.
Running your own business doesn’t come without its stressors unfortunately. However, there are ways that you can successfully manage your stress and have a healthy work-life balance in the process! Consider incorporating these helpful tricks into your routine and give us a call at (832) 527-2728 to set up a meeting to discuss how we can assist with the financial aspects of running a successful business.
7 Ways Successful Entrepreneurs Manage Stress – Center for Entrepreneurship Being an entrepreneur is stressful. From pitches to cash flow, from setbacks to deadlines, and from home life to working...
Enrolled agents are tax advisors who hold federal authorization as tax practitioners, granted authority by the U.S. Department of Treasury. It's legal for enrolled agents to represent taxpayers and we make this a seamless process for you. Have questions? Get real answers and give us a call today at (832) 527-2728.
Continuous accounting has completely revolutionized traditional accounting methods by offering more real-time approaches to the way a business manages its finances. It involves distributing and automating the financial process throughout the accounting period rather than focusing on them solely at the end of the period.
Advantages of Continuous Accounting | www.financialhotspot.com Continuous accounting is revolutionizing traditional accounting practices, offering a more dynamic and real-time approach to financial management. In this blog post, we'll explore the numerous advantages that Continuous Accounting brings to the table, transforming the way businesses handle their fin...
IRS agents are assigned official identification cards known as HSPD-12 cards. Someone is likely falsifying their identity if they cannot provide it. If they claim to be someone you know, hang up and call that person directly. Scammers aim to get your emotions heightened so you aren’t thinking clearly. Slow down, stop the conversation, and speak with someone you trust. Report any fraud to the IRS or the Federal Trade Commission. More questions on tax time safety tips? Contact us at (832) 527-2728.
When you work with us, we’ll offer year-round tax planning guidance to help you reduce the tax obligations of your business. Running a business is hard, but taxes shouldn't be. Let our professional enrolled agents help you navigate the tax maze! Contact us at (832) 527-2728 to get started.
Maintaining proper documentation, time management skills, and automating daily tasks can significantly help your organization and success as a business owner. Maintain accurate records of your business finances through recording every transaction into the proper accounts on a weekly basis. Keep copies of all your invoices, cash receipts and cash payments as well for tax purposes. Need other business tips? Contact us at (832) 527-2728 – we’d love to help!
A business credit card can be a very smart financial decision for saying on top of managing your company’s expenses and to build credit. Before applying, there are several things you should consider to ensure you’re making the most of your business’ financial needs.
What to Know Before Applying for Business Credit Card | www.financialhotspot.com Applying for a business credit card can be a smart financial move for managing your company's expenses and building credit. However, before you dive into the application process, there are several important factors to consider to ensure you're making the right choice for your business's financial ne...
Here's a fun read/watch! This list highlights the most memorable on-screen accountants. Do you have a favorite? Share with us in the comments below! For all your accounting needs, call us at (832) 527-2728.
Lights, camera, taxation! Accountants on screen Some of our favorite CPAs of the silver and small screen.
Tax scams are designed to look official, and AI is often used to improve their quality and design making their schemes more difficult to detect. Only open or approve something if you expect it and know what it is. If you accidentally open a page or a document, a scammer can easily add malware to your device, monitor your activity, and steal your personal information. Report any suspicious and unsolicited emails to the IRS. Have questions about a message’s legitimacy? Call us at (832) 527-2728 today.
We are committed to your success and provide a comprehensive range of business consulting services to assist you in making strategic decisions. The days of manual business processes are over; we help you make better judgments on-the-spot which lead to profitable business ventures. Get real answers from a business consultant! Give us a call at (832) 527-2728.
A customer-focused business culture places the customer at the center of all your business decisions. This strategic approach helps your business build brand loyalty, customer satisfaction, and eventual business success. Have you incorporated any of these tips into your organization’s culture?
Tips to Develop a Customer-Focused Business Culture | www.financialhotspot.com A customer-focused business culture is not just a buzzword; it's a strategic approach that places the customer at the center of all business decisions. This approach is essential for building brand loyalty, driving customer satisfaction, and, ultimately, ensuring business success. Here are some prac...
Scammers will often create immediate calls to action in tax scams. They may even threaten you with arrest, deportation, or suspension of your business or driver’s license – all of which the IRS would never do. Vulnerable communities, such as recent immigrants, those with limited English proficiency, and people with disabilities are often targeted by these scams. Slow down and stop the conversation then talk to someone you trust about the interaction. Give us a call today at (832) 527-2728 – we are here to help you!
Payroll reporting involves calculating, managing, recording, and analyzing employees' compensation. You also may have to deal with employee benefits, wage garnishments and a variety of other issues related to employee wages. Focus on your business while we handle your payroll. Call us today at (832) 527-2728!
For the tax year 2024, a nonrefundable clean vehicle (CV) tax credit of up to $7,500 is available for buying certain new fully electric, plug-in hybrid and fuel-cell electric vehicles. Alternatively, a credit of up to $4,000 is available to taxpayers purchasing eligible used vehicles. Vehicle eligibility and the size of the credit depend on factors such as the cost of the vehicle whether it satisfies certain manufacturing requirements and the taxpayer’s annual income.
It can be a difficult and confusing process to file your Foreign Bank and Financial Accounts Report (FBAR) accurately. Navigating the everchanging regulations can leave a U.S. taxpayer feeling overwhelmed – making your job less than stress free. Letting your accountant – like us – file your FBAR not only ensures that it is completed properly, but also is a convenient and strategic move on your part!
Why You Should Let an Accountant File Your FBAR | www.financialhotspot.com Filing your Foreign Bank and Financial Accounts Report (FBAR) can be a maze of regulations, requirements, and potential pitfalls. As a U.S. taxpayer with foreign financial interests, the intricacies of FBAR filing may leave you feeling overwhelmed. In this guide, we'll explore why entrusting this ta...
If you call the IRS about your account, be aware that you will have to verify your identity. Be cautious about accepting help with your account from anyone outside of the agency’s authentication process. Be wary of anyone asking for personal information - such as birthdates, addresses, Social Security numbers, photo identification, bank information, or credit and debit details – out of context. The IRS will never ask you for these.
Did you know that your customer management system can affect your business growth? Streamlining and automation can save you time and improve your customer relationships as well as better communicate with your target customer base. As your business develops and expands, finding new innovative ways to automatically track campaigns, leverage your customer data, and better manage your sales can lead to increased referrals and a boost in profits. For other small business tips, contact us today at (832) 527-2728.
As a business owner, navigating tax debt and knowing your options for resolving it effectively is essential. By being proactive, the strategies you can take towards tax relief and relieving the burden of financial stress can be easy! Don’t let tax challenges overwhelm you and your business.
Options for Businesses Facing Tax Debt | www.financialhotspot.com Navigating tax debt can be a daunting challenge for any business owner. Whether you're struggling to meet your tax obligations due to unexpected financial setbacks or facing penalties for past non-compliance, it's essential to explore your options for resolving tax debt effectively. From negotiating...
Let us help assist you with precisely preparing and filing your tax returns as enrolled agents, making sure you take advantage of all allowable credits and deductions while adhering to all applicable tax regulations. Give us a call at (832) 527-2728 to get started today.
We offer tailored business consulting services to address the difficulties you are facing through our extensive industry knowledge and experience. We'll support you at every turn and are dedicated to your success! Allow us to assist you in transforming your company for the better. Get real answers from a business consultant! Give us a call today at (832) 527-2728.
We all need a vacation now and again, and fortunately when you plan strategically, a travel fund isn’t that difficult to build. Following these simple finance steps will help you plan smart and have you on your dream getaway in no time!
Smart Ways to Build a Vacation Fund | www.financialhotspot.com Dreaming of a getaway but feeling strapped for cash? Whether you're yearning for a beach retreat, a cultural adventure, or simply a change of scenery, building a vacation fund doesn't have to feel like an impossible feat. With some strategic planning and a bit of discipline, you can turn your travel...
You have worked hard to get to where you are in your business. That is why choosing the right consultant is highly important! Don’t wait until you find a major error to reach out. By planning ahead, we can assist with financial forecasting and strategic management. Call us today at (832) 527-2728.
Life gets stressful, but we're here to make your bookkeeping a breeze. Contact us today at (832) 527-2728 for more information about our services.
Keeping accurate and up-to-date records increases a small business’ chances of success and are especially important to have for tax time. Try creating a folder of all paper receipts based on expense type, vendor, or supplier. For more small business accounting tips, contact us today at (832) 527-2728!
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The Woodlands, TX
77382
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