Posts by Jason Arsenault
New Mexico Gross Receipts Tax Exemptions & Deductions
New Mexico is one of the few states with a gross receipts tax. It is a tax imposed on the seller of products and services but, as with any tax law, there are a few exceptions. Gross receipts DOES NOT include: Gross receipts are taxable, exempt, or deductible. If your receipts do not fall under…
Read MoreHow to Prepare a Balance Sheet
A balance sheet is one of the most important of the four basic financial statements. It offers a quick look into your business’s financial health showing assets, liabilities and net worth. Use it to see how your company is performing in the current period, how it performed during the previous period, and how you can…
Read MorePayroll Basics for Small Businesses
While processing payroll for your business can be daunting, it’s not impossible. It is, however, time-consuming and meticulous, and errors could land you in trouble. Before you get started and if you ever have any questions, it’s best to consult with a professional rather than Google. But to give you an idea of the basics,…
Read More5 Small Business Financial Mistakes You Can Avoid
Running a small business is a lot of work. There are so many things business owners and entrepreneurs need to stay on top of, plan for and be aware of; the to-do list is never done. So, it’s understandable when they make a few mistakes along the way. Some of these financial mistakes are more…
Read MoreRethinking Pricing Strategies for Native American Art Galleries
Rethinking Pricing Strategies for Native American Art Galleries The story of Native American jewelry and art in the Southwest is intertwined with the history of American tourism. As trains and automobiles brought visitors westward, tourists sought souvenirs that captured the essence of their journey. This often meant taking home a piece of turquoise jewelry, a…
Read MoreShow Me the Money: The Four Basic Financial Statements & What They Do
While preparing financial statements can seem tedious, they really are beneficial. They show you where your company’s money came from, where it went, and where it is now. Regular review of this information can help you position your business for long-term success. It can also provide potential investors or creditors with the information they need…
Read MoreWho Must File New Mexico Gross Receipts Tax?
There are fewer than 10 states with a statewide gross receipts tax and New Mexico is one of them. In New Mexico the gross receipts tax function a bit like a sales tax, except it’s paid by the seller not the buyer. What is the New Mexico Gross Receipts Tax? If you are engaged in…
Read MoreSigns It’s Time to Invest in Professional Bookkeeping Services
You’re a do-it-yourselfer, an entrepreneur. You’ve built a business from scratch. Doing your books yourself may seem like an easy way to save money. And maybe it was for a while, but as your business develops, there will come a time when outsourcing your books to a professional bookkeeping service will help your long-term success.…
Read MoreAccounting Software & Chart of Accounts for Food Truck Business
Managing Your Food Truck Business with Accounting Software In our final blog post of the food truck series, we will discuss the importance of using accounting software to track your business’s financial performance. Accurate accounting is essential for understanding how your business is doing, managing assets and liabilities, and making informed decisions. We recommend using…
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