Running a small business is like juggling a multitude of tasks, from managing employees to satisfying customers' demands. In the midst of it all, there's one critical aspect that often gets overlooked: bookkeeping and accounting. It's easy to get caught up in the daily operations and let those piles of receipts and financial statements pile up on your desk. But fear not, for there's a solution that can alleviate this burden and bring peace to your entrepreneurial journey: outsourcing your business bookkeeping and accounting services.

In the fast-paced world of business, it's essential to stay informed about the latest tax credits and incentives that can help your company thrive. As an accountant, tax preparer, or financial advisor, you know the importance of identifying opportunities that can benefit your clients. Today, we'll be shedding light on the often-overlooked Employee Retention Credit (ERC) opportunities that can significantly impact your clients' financial landscape. So let's dive in and explore how this tax credit can help boost their businesses in Hernando, MS, and beyond.

In the dynamic realm of small businesses, where every decision holds weight and each dollar can determine success or failure, a vital factor emerges—an essence of prosperity, if you will. And at the core of this pivotal element lies an imperative: maintaining precise financial records. Much like a treasure map leading to profitability, these diligently upheld records possess the ability to shape a small business into a soaring triumph or leave it adrift in a sea of uncertainty. From tracking expenses to preparing tax returns, reliable financial records provide crucial insights into your business's financial health and help you make informed decisions.

At Dyer & Associates CPA, PLLC, we are helping businesses analyze, record, and document the Employee Retention Tax Credit so that they comply with the IRS and take advantage of the credit Congress enacted to help businesses during the pandemic. This is a refundable tax credit against a portion of the Social Security tax equal to fifty percent of wages paid to your employees on or after March 12, 2020 to December 31, 2020. This percentage increased to seventy percent in 2021.

The entrepreneurial spirit burns bright in many people, still not everyone finds the right way to kick start their business journey and grow and succeed. At Dyer & Associates CPA, PLLC, we want to change that trend, which is why we have partnered with a couple of esteemed organizations to create a special community outreach program called - Start Your Business Smart. 

Starting your own business is hard work. Besides building your core product or service, you also need to have operational knowledge of numerous other facets of the company. In the early stages of your small business, hiring additional staff or even contractors to manage some of these roles may not be an option. In such a situation, you are faced with the intimidating task of having to learn as much as possible in a short period. As such, it is possible to make mistakes due to a lack of experience and expertise, especially regarding the more technical aspects such as accounting and tax. 

We are Jason and Penny Dyer, the proud owners of Dyer & Associates CPA, PLLC. We look forward to sharing our story and hope that you will enjoy getting to know us better.

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