Posts by Carl Corneliuson
The Power of Fixed Fee Accounting Services: 6 Key Benefits for Your Business
In the realm of accounting services, the debate between fixed fee and hourly billing models is ongoing. As businesses strive for financial efficiency and predictability, understanding the advantages of fixed fee accounting services becomes crucial. While hourly billing has long been the traditional approach, many businesses are shifting towards fixed fee structures to gain better…
Read More5 Small Business Accounting Mistakes That Could Cost You Big
Accounting mistakes are one of the most common reasons small businesses struggle to stay afloat. Missteps in managing finances can lead to cash flow problems, tax penalties, and even business failure. If you’re a business owner, avoiding these errors is key to staying financially healthy and growing your company. Let’s dive into five common small…
Read MoreIRS Home Office Deduction 2025: What’s New and How to Maximize Your Savings
Working from home has its perks, and one of the biggest is the IRS Home Office Deduction. If you’re self-employed, running a small business, or freelancing, you could save money on your taxes by claiming home office expenses. The IRS has made some changes for 2025, and we’re here to break it down in simple…
Read More10 Qualities You Should Look for in a CPA Firm
Choosing the right CPA firm is an important decision for individuals and businesses alike. A competent and reliable accounting firm can help manage your finances, ensure compliance with tax laws, and even provide strategic advice to grow your wealth or business. But with so many firms to choose from, how do you determine which one…
Read MoreAre Our Accounting Services Right for Your Business? Let’s Talk Costs
At Corneliuson & Associates, a common question we hear is, “Your services sound expensive. Can we afford you?” It’s a fair question, especially when running a business means carefully considering every dollar spent. Let us break down how our pricing works and why it’s structured to provide value to businesses like yours. Balancing Value and…
Read MoreWhy Personalized Year-Round Accounting is the Key to Your Small Business Success
Many accounting firms focus solely on tax season, but we work with you throughout the year to develop a deep understanding of your business. This allows us to use strategies tailored to your unique goals and challenges. Our priority is to empower you with tools and insights that promote long-term financial stability and growth.
Read MoreHow ESG Reporting is Impacting Minneapolis Businesses and How an Accounting Firm Can Help
As sustainability and ethical business practices take center stage, Environmental, Social, and Governance (ESG) reporting is becoming a critical part of modern business operations. From large corporations to small enterprises, businesses in Minneapolis are increasingly expected to disclose their ESG efforts. For companies aiming to remain competitive and compliant, understanding ESG reporting and its impact…
Read MoreUnderstanding the New Corporate Transparency Act and Its Impact on Businesses
Introduction On September 29, 2022, the Financial Crimes Enforcement Network (FinCEN) introduced a significant rule aimed at enhancing transparency in business operations and safeguarding the U.S. financial system. This rule implements the Corporate Transparency Act’s (CTA) provisions on beneficial ownership information (BOI) reporting. Here’s what you need to know about this pivotal development. Cracking Down…
Read MoreTax Strategies for Small Businesses: 3 Ways to Save
Your taxes directly impact your bottom line. Saving on taxes is essential for small business owners because it allows for increased profitability and reinvestment in the business. By minimizing tax liabilities through strategic planning and compliance with tax laws, small businesses can retain more of their earnings and enhance financial stability. Below we’ve listed the…
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