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Business Tips for First-Time Business Owners

by Elizabeth calander Jun 26, 2026

  Quick Answer: First-time business owners should keep business and personal money separate, track income and expenses from day one, save for taxes, understand payroll and sales tax rules, and look at their numbers every month. A few simple habits early can prevent expensive cleanup later. I was recently asked what tips I would give…

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What Happens If Your Business Gets Audited by the IRS?

by Elizabeth calander Jun 23, 2026

Quick Answer: If your business gets audited by the IRS, the IRS will send you a letter explaining what they want to review. The audit may be handled by mail, at an IRS office, or in person at your business or your accountant’s office. You will need to provide records that support your income, expenses,…

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7 Tax Mistakes Small Businesses Make Every Year

by Elizabeth calander Jun 18, 2026

Quick answer: The most common tax mistakes small businesses make are poor recordkeeping, mixing personal and business money, missing income, underpaying estimated taxes, payroll tax problems, missing deadlines, and guessing on deductions. Running a small business means wearing a lot of hats. You may handle sales, customers, employees, bills, and taxes – sometimes all in…

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CPA vs Bookkeeper: What’s Best for Your Business?

by Elizabeth calander Jun 15, 2026

Quick answer: A bookkeeper keeps your daily records clean. A CPA helps with bigger accounting questions, tax planning, and business decisions. At Compton & Company CPAs, you do not have to choose one or the other. We provide bookkeeping and CPA-level support together, so your records, reports, payroll, and tax work stay connected. Which One…