Ever wonder why some business owners are successful while others fail within the first five years of operation?  This failure is often attributed to poor financial management.

There are many common challenges faced when setting up your bookkeeping system.  If not done properly, business owners could be paying more taxes, open themselves up for an IRS audit, or end up closing their doors.  See the top mistakes made by business owners that can cost them time and money.

  

It's easy to do - open the petty cash box or the cash drawer and pull out a couple of twenty dollar bills.  A quick trip to office supply store, the Strip District or Restaurant Depot to pick up a few things and it's back to business.

The IRS does not require a receipt for purchases under $75 - so it's an OK practice if you don't always have a receipt - right?  Although not required by the IRS, making a practice of not keeping receipts for small purchases can add up and deductions may be missed.  Over time, see how missing receipts may put your business at risk.  

  

We'd like to welcome the following restaurants to the Paxton Bookkeeping family.   

• West Penn BBQ - located in Northgate Plaza in Zelienople will open for business on October 7th.
• Circolo Woodfired - located at 2100 East Carson Street, in Southside will open mid-November 2014.

Wishing you all the best as your embark on your new business venture. 

Circolo Woodfired	West Penn BBQ