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    Are You Ready for Retirement?
    • Jul 22, 2019
    • 2 min

    Are You Ready for Retirement?

    Although tax season is over, Practical Accounting Solutions is still keeping busy! We wanted to give you an exclusive first look at our upcoming event: Get Ready to Retire! Here are the details: Get Ready to Retire: a Retirement Seminar presented by Practical Accounting Solutions and Primerica Tuesday, August 27th from 6-8PM Park Lane Tavern 1 Towne Centre Blvd, Fredericksburg, VA 22407 What You'll Learn: ►How to Find the Best Retirement Saving Plan for You Your finances are
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    Know these 4 Things Before Taking Out a Personal Loan
    • Jun 24, 2019
    • 3 min

    Know these 4 Things Before Taking Out a Personal Loan

    There are plenty of reasons why taking out a personal loan might be a great financial move for you or your family. Read on to learn more about when you may want to take out a personal loan and how to use it to your best advantage! Photo by Melissa Walker Horn on Unsplash 1. Why You Need a Personal Loan There are plenty of reasons why you may need a personal loan. You could be trying to consolidate debt, plan a big event, finance your home remodeling, or making a large purchas
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    Bookmark these Resources for Your Small Business
    • Jun 18, 2019
    • 2 min

    Bookmark these Resources for Your Small Business

    In the past, if you wanted information, you got in your car and visited your local library. Once there, you had the choice of either browsing the shelves or asking a librarian to help you find what you're looking for. While libraries are still great sources of information, the explosion of the Internet allows you to research from your kitchen table! But, what resources do you truly need? Read on for some resources that can help your business! Photo by Jaredd Craig on Unsplash
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    5 Books on Personal Finance Everyone Should Read
    • Jun 11, 2019
    • 2 min

    5 Books on Personal Finance Everyone Should Read

    Queue the ABBA song and have a jam session while you take note of these 5 books on personal finance everyone should read! Looking for a summer read? Put down the novels and pick up a finance book like these below: Photo by Ben White on Unsplash 1. Broke Millennial: Stop Scraping By and Get Your Financial Life Together, by Erin Lowry Many financial books are aimed toward middle-aged folks, but this one is for the millennial who is just getting their financial life started. Low
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    Why You Need a Lifelong Personal Finance Plan
    • Jun 4, 2019
    • 4 min

    Why You Need a Lifelong Personal Finance Plan

    You plan for the weather on a rainy day, you plan your social outings and kids' extracurricular activities. You may even plan your month-to-month budget. But do you have a lifelong personal finance plan? Building your personal finance plan will help you work toward your bigger goals and stay on track. Read on to find out more! Photo by STIL on Unsplash Why You Need a Financial Life Plan Think if your financial life as a vacation itinerary. There are fun places you plan to vis
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    Workshop Recap
    • May 28, 2019
    • 2 min

    Workshop Recap

    Thank you to all who attended our first workshop series Finance Fundamentals for Your Small Business! We hope we offered you some helpful insight on how to manage your business finances for future success. For those who missed the exciting workshop series, here's an overview of what participants learned. Couldn't make it? No worries, we plan to schedule similar workshops in the near future. Be on the lookout for emails with more information! Photo by Practical Accounting Solu
    13 views0 comments
    5 Books All Small Business Owners Should Read
    • May 21, 2019
    • 2 min

    5 Books All Small Business Owners Should Read

    There are thousands of books that can help you create a successful small business, but which ones are actually worth your time? Read on to see a list of the top 10 more recommended books for small business owners! Photo by David Iskander on Unsplash 1. Setting the Table: The Transforming power of hospitality in business by Danny Meyer Written by CEO and award winning restaurateur of the Union Hospitality Group, Danny Meyer gives insight on how every company can use classic ho
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    5 Signs it's time to Outsource Your Business Finances
    • May 14, 2019
    • 2 min

    5 Signs it's time to Outsource Your Business Finances

    Every small business is different, and every small business owner is, too! This means what while some owners love managing their company's finances, others dread regularly crunching the numbers. But, when do you know if it's the right time to outsource your financial duties? Read on to see the 5 signs it's time to outsource your business financial needs. Photo by Kaleidico on Unsplash 1. Your business is growing You became an entrepreneur for a reason, and that reason likely
    15 views0 comments
    Your 401K or IRA
    • May 7, 2019
    • 2 min

    Your 401K or IRA

    For some, retirement seems like a lifetime away, but it is imperative to plan planning your retirement early to ensure you are financially set. Today we talk about the basics of saving for retirement and tips on how you can plan for your retirement day! Photo by Aaron Burden on Unsplash Your 401K The 401K is the most common form of retirement plan. However, there are limits to how much you can invest per year. In 2019, the limit for those under 50 is $19,000 annually and $25,
    8 views0 comments
    Finance Fundamentals for Your Small Business
    • Apr 30, 2019
    • 1 min

    Finance Fundamentals for Your Small Business

    Our three-week workshop "finance Fundamentals for your Small Business" presented by Practical Accounting Solutions is coming up soon! Here are the details What You'll Learn: Starting a small business can be a challenge if you're not familiar with managing company finances! Led by Adam Knihtila, owner of Practical Accounting Solutions, you'll learn the basics of how to keep track of your finances, how to budget for your company, and the basics of employee finances and payroll.
    8 views0 comments
    5 Easy Steps to Managing your Payroll
    • Apr 23, 2019
    • 5 min

    5 Easy Steps to Managing your Payroll

    As your business grows, you may find you need to hire your first employees. While this is an exciting step for any business owner, it is important to ensure you take the right steps when setting up and managing employee payroll. Read on for 5 easy steps for managing employee payroll! Photo by Priscilla Du Preez on Unsplash 1. Consult with payroll professionals and register as an employer As a business owner, you most likely have an accountant or other business mentor who can
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    8 Bookkeeping Terms Every Business Owner Should Know
    • Apr 9, 2019
    • 2 min

    8 Bookkeeping Terms Every Business Owner Should Know

    Bookkeeping. For some business owners, bookkeeping may feel very tedious or challenging to keep up with. For others, this type of financial organization is right up their alley. No matter which mentality you have, all business owners must keep these records in order to plan ahead financially, ensure your costs and profits are accounted for, and to plan for tax season! Read on below for some key terms to know with Bookkeeping! Photo by Thought Catalog on Unsplash 1. Cash vs Ac
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    Workshop Announcement!!!
    • Apr 2, 2019
    • 1 min

    Workshop Announcement!!!

    We are proud to announce a three-week workshop this may called "finance Fundamentals for your Small Business" presented by Practical Accounting Solutions! Here are the details When: May 7 May 14 May 21 Where: Holiday Inn Express & Suites Fredericksburg What You'll Learn: Starting a small business can be a challenge if you're not familiar with managing company finances! Led by Adam Knihtila, owner of Practical Accounting Solutions, you'll learn the basics of how to keep track
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    Small Business Sales Tax
    • Mar 26, 2019
    • 2 min

    Small Business Sales Tax

    As a small business, you want to ensure you are correctly categorizing transactions and sales appropriately for tax purposes. Today, we talk about the basics of sales tax for products and services especially if you operate in multiple states! Photo by Ruthie on Unsplash What is sourcing? Sourcing is where your clients calculate sales tax. Local sales tax occurs at local levels as well as applying state tax sale. Two types of sourcing are recognized: destination-based and orig
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    A Breakdown on Penny Stocks
    • Mar 19, 2019
    • 2 min

    A Breakdown on Penny Stocks

    Penny stocks have been around since the early 1900s, but you might have learned most of what you know from the popular Leonardo DiCaprio film The Wolf on Wall Street. Today we break down what penny stocks are and some things to remember when investing in penny stocks. Photo by Jonathan Brinkhorst on Unsplash a brief History of Penny Stocks Since the early 1900s, companies have broken down their stock and sold it for mere pennies. Today, especially with advancements of techno
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    Is Your Small Business Being Audited by the IRS?
    • Mar 12, 2019
    • 3 min

    Is Your Small Business Being Audited by the IRS?

    An audit can be stressful for any business owner, and even more so for those that bend the rules or do not keep organized business books. Today, we address 5 common factors the IRS considers when auditing small businesses. We also always recommend working with an accountant to help you navigate your audit! photo from wix.com 1. Does your business handle primarily cash? If so, ensure you have a consistent and organized way to record transactions if they occur. Ensure you do no
    10 views0 comments
    How to Jump-Start Your Child's Credit Score
    • Mar 5, 2019
    • 2 min

    How to Jump-Start Your Child's Credit Score

    We've discussed in previous posts how to start teaching your child financial responsibility through a bank account, but what about their credit score? Credit scores have such a huge impact on a child's financial future, and you can help them establish and build their credit from early on in preparation for future student loans, car loans, or other future financial endeavors! photo from wix.com Add your child as an authorized user on your credit card While taking out a credit
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    Customer Appreciation Week
    • Feb 28, 2019
    • 1 min

    Customer Appreciation Week

    We are proud to announce Customer Appreciation week once again this March! As a thank you to those who serve our community, mention the ad below to get your personal/joint taxes prepared for only $100! contact us here to set up your appointment today! #personaltaxes #accountingforpersonalfinances #practicalaccountingsolutions #fredericksburgtax #fredericksburg #personalfinancehelp #personaltaxpreparation #taxlaws #virginiataxhelp #virginiaaccountant
    20 views0 comments
    Qualified Business Income (QBI) Deduction for Small Business Owners
    • Feb 26, 2019
    • 2 min

    Qualified Business Income (QBI) Deduction for Small Business Owners

    We understand, taxes are hard. That's why we're here to help. Today, we break down one big change in the tax code that may affect your business: the Qualified Business Income Deduction. This change is in a series of others within the new tax code that helps you simplify your taxes as well as provide a significant reduction in how much you pay in Federal taxes. photo from wix.com Here's the Low-down With the recent government shutdown, many of these clarifications were long-aw
    16 views0 comments
    5 Key Tasks an Accountant Can Do for Your Small Business That Tax Software Cannot
    • Feb 5, 2019
    • 3 min

    5 Key Tasks an Accountant Can Do for Your Small Business That Tax Software Cannot

    As a small business owner, you have more than just your personal taxes to consider when tax season rolls around. Taxes can be complicated and time consuming, and while tax software may seem like an easy alternative to hiring an accountant, that may not be the best option for your company! Keep reading to discover the 5 ways accountants can help you during tax season versus a do-it-yourself software. photo from wix.com 1. your accountant ensures you're compliant with the tax c
    16 views0 comments
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    Our primary mission is to maximize benefits to our clients by providing quality, personalized and attentive accounting services. As your trusted advisor, we’re dedicated to doing everything we can to improve your business practices and operations so you can relax and focus on what you do best: growing your business.

    Office: 10705 Courthouse Rd, Suite 116, Fredericksburg, VA 22407

    Phone: (703) 309-5754

    ©2019 copyright Practical Accounting Solutions

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