Estimated taxes are a critical aspect of tax planning for individuals and businesses, particularly for those who do not have taxes withheld from their income throughout the year. This is common for freelancers, small business owners, and others with income outside of traditional employment. Both the federal government and the state of Illinois require the […]
Outsource CFO
Tax Planning for the Self-Employed
Self-employment offers the opportunity to be your own boss and establish a lifelong bond with your accountant. If you’re self-employed, you will need to pay your own FICA taxes and manage your retirement plan, among other responsibilities. Here are some essential tax planning tips for the self-employed. Understand Self-Employment Tax and How It’s Calculated Ensure […]
Unlocking Growth: The Benefits of Outsourcing CFO Services
In today’s dynamic business landscape, companies face an array of financial challenges, from managing cash flow to navigating complex tax regulations. For many small and mid-sized businesses, the role of Chief Financial Officer (CFO) is essential yet often out of reach due to budget constraints. However, there’s a solution: outsourcing CFO services. At Blue Ocean […]