CAPS Accounting

11/18/2025

It's that time of year to complete my yearly CE's. This year not only did I complete my Level 1 Certification. I also completed my Level 2 Certification!!

I have a few other certifications up my sleeve just to increase my knowledge and have the ability to help more Business Owners. The sky is the limit!

I offer a variety of services for ALL Business Owners i.e. QBO Subscriptions, Set-Up Services, Consulting/Training Services, Clean-Up Services, Monthly, Quarterly, Semi-Annually Bookkeeping Services, Payroll Services, Year-End Services, 1099 Filings, and more!

07/23/2025

⭐️ 3 Reasons Why Your Business Needs a Bookkeeper ⭐️

As a Business Owner trying to juggle multiple responsibilities can be overwhelming and stressful.

In most cases, the bookkeeping often takes a back seat which leads into financial mismanagement. Hiring a professional bookkeeper ensures your finances stay on track.

Here’s why:

✅ 1. Peace of Mind
📌 Hiring a Bookkeeper keeps your financial records accurate & up-to-date, allowing you to focus on what you do best….Growing your business!
📌 Reduces stress when trying to track expenses, balancing the books, or reconciling accounts.

📊 2. Data-Driven Decisions 📈
📌 Understand your financial data to make informed business decisions.
📌 Identify growth opportunities, manage cash flow, and optimize pricing strategies.

💰 3. Tax Compliance & Savings 💵
📌 Stay compliant with tax laws and maximize deductions to save money.
📌 Avoid penalties and ensure smooth tax preparation with error-free financial records.

✨ Additional Benefits:
✔️ Better cash flow management
✔️ Quick error detection & correction
✔️ Set & track financial goals
✔️ Audit preparedness

Some questions to ask yourself 🤔 …..

Are you spending too much time on bookkeeping?
Do you have the expertise to handle it yourself?
Are your financial records accurate?
Are you able to file your tax return on time? Or do you have to always file for an extensions?

If you answered NO to any of questions 🙋‍♀️ , maybe it’s time to hire a Bookkeeper?

📢 Final Tip:
When choosing a bookkeeper, look for experience, qualifications, and a good fit for your business.

Make the investment today that way you can focus on what you do best!!!! Growing your business! 🚀

Contact us today!!!

04/11/2025

🚨 IMPORTANT FOR BUSINESS OWNERS 🚨

Sole Proprietor vs. LLC (S-Corp Tax Election)

Deciding between a sole proprietorship and an LLC taxed as an S-Corp can significantly impact your tax liability. Here's a side-by-side comparison:

1. Sole Proprietorship:
- Total Income: $150,000
- Self-Employment Tax: 15.3% of $150,000 = $22,950 (half deductible)
- Federal Income Tax: Roughly $25,000
- Total Estimated Taxes: $47,950

2. LLC Taxed as an S-Corp:
- Total Income: $150,000
- Owner’s Salary: $60,000
- F**A Taxes: 7.65% of $60,000 = $4,590
- Federal Tax on Salary: Approx. $11,247.50
- Distributions: $90,000
- Federal Tax on Distributions: Approx. $15,747.50
- Total Estimated Taxes: $31,585

The Big Difference:
With a sole proprietorship, you pay self-employment tax on the entire income. With an S-Corp, it only applies to your salary, not your distributions.

Potential Tax Savings: $16,365

Key Takeaways:
- S-Corps can be more tax-efficient as income grows
- Salary must be “reasonable” to stand up to IRS scrutiny
- Sole props are easier to manage but may lead to higher taxes
- Always consult a tax professional to determine what’s best for your situation

01/02/2025

2025 Tax Season is in full swing!!!! DO NOT wait to get your Books looked at! CAPS Accounting provides Monthly, Quarterly, Year End Bookkeeping and reviews; filing of 1099’s, QuickBooks Software, QuickBooks setup, Consulting and SO much more!!! Contact us today!!!

01/02/2025

11/29/2024

Happy Thanksgiving to all of our clients and their wonderful families!

We appreciate you and thank you for your business and personal relationships!

10/24/2024

Make sure to go out and "Like" our Business Page!

We are excited to announce that we have TWO Locations! We are now IL and TN! We work with Small Business Owners across the country!

We offer a variety of services for Small Business Owners. Now that tax season is underway, do not wait until the Last minute to get your Books reviewed, update your QuickBooks software, file 1099’s, W-2’s, Sales Tax and MORE!

Contact us today!

https://www.facebook.com/capsaccountinginc?mibextid=LQQJ4d

CAPS offers affordable Small Business Bookkeeping & Quickbooks Software services each Business Owner. Start your Books out right! Contact us TODAY!

09/26/2024

Thank you West Carroll Youth Football League for our spotlight!

Go War Eagles 🦅!!

07/17/2024

As we now are in the second half of the year, here are some key steps to help you prepare:

1. Review your mid-year financials. Assess your income statement, balance sheet, and cash flow to understand your current financial health.

2. Adjust your budget based on the first half of the year's performance and set realistic targets for the rest of the year.

3. Project your cash flow to ensure you have enough liquidity to cover expenses and invest in growth opportunities.

4. Review your tax obligations and plan for any upcoming payments or filings to avoid surprises.

5. Define clear financial goals for the next six months and develop a strategy to achieve them.

If you have any questions about how we can help you free up more of your time while we take care of the numbers, Contact us today!!

04/16/2024

We thought this would be funny to post. 🤣

Don’t wait until the last minute to get your Bookkeeping and Taxes done!

Contact us for more information about how you can get your Books in order for the next tax year.

01/22/2024

I’m sure every Business has felt this at some point! 🥴😂🤣🤪