PPP Loans: The Forgiveness Process | Chastain Partners

  PPP Loans: The Forgiveness Process | Chastain Partners Let’s talk about Paycheck Protection Program loans. If you’re reading this, you have likely received a PPP loan under the CARES Act and would like to know how to receive loan forgiveness. The government has updated rules with more flexibility as of June 5th.  What to know when applying for PPP loan forgiveness: The coverage period is 24 weeks during which…  Read more

Your Simple Guide to R&D Tax Credits | Chastain Partners

What are R&D tax credits? R&D tax credits, or research and development tax credits, allow qualified businesses to deduct the cost of research and development from their taxable income. This is a big help for small businesses.    When you see the words “research and development” you may be thinking of super-scientific product testing and white lab coats, but it’s important to know that in today’s economy, a lot of R&D…  Read more

What To Do If You Missed This Year’s 1099 Deadline | Chastain Partners

In our last post we talked about the benefits of hiring freelancers for small businesses. If you’ve already been hiring contract work, though, you might be familiar with the process of filing 1099s. And if you’re only familiar with this process because you just learned you’ve missed your deadline to file them, this post is for you. First of all, don’t panic. If you missed the January 31st deadline, you…  Read more

Five Tech & Accounting Trends for Small Businesses in 2020 | Chastain Partners

congerdesign / Pixabay   We’ve made it almost a full month into the new year. But this isn’t just a new year, it’s a new decade. Whether it’s about catching up, or getting a leg over the competition, here are five tech and accounting trends for your small business in 2020:    Becoming Mobile-Friendly Every new smartphone is more capable than the last, and they can be handy on both…  Read more

How Accounting Software Can Increase Profits

Most small business owners who use accounting software quickly master the basics. They automate processes like invoicing and payroll, track expenses and view real time financial reports to manage cash flow and make better business decisions. But what many business owners don’t take advantage of are key insights that can improve customer care and increase sales. Here are some smart ways you can use your accounting software to help boost…  Read more

Bookkeeping Basics for Small Business Owners

On average, small business owners spend 10 hours each week recording, organizing, and processing financial transactions – everything from accounts receivable and payable, to employee payments, expense receipts and supplier invoices. While the process may be time-consuming (and tedious!), effective bookkeeping is the foundation of sound financial management – which in turn, is the lifeblood of your business. Feeling overwhelmed by mountains of paperwork and complex calculations? Here are three…  Read more

How to set payment terms if you’re a freelancer or contractor

Following up on late or non-paying customers is no freelancer’s favorite task. Which is precisely why you need to set payment terms up front – and in writing – before you work with a new client or customer. By communicating and agreeing on the non-negotiables for doing business with you, you’ll avoid awkward misunderstandings, frustrating disputes, and in most cases, the ugly hassle of debt collection. These tips will help…  Read more

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