Small Business Accounting - OSCPA Tax Advisory

How to Set Up a Chart of Accounts for Your LLC or S-Corp

Small Business Accounting3 days ago229Views 31Likes 0Comments

The Filing Cabinet of Your Business So, what is a chart of accounts? Think of it as the digital filing cabinet for your business money. Every dollar that comes in or goes out needs a specific folder. Sales go in one folder. Rent goes in another. Payroll, loans, equipment, and owner payments all need their…

S-Corp Tax Return Checklist: What to Gather Before Filing Form 1120-S

Tax PreparationMay 14, 2026208Views 25Likes 0Comments

The S-Corp Domino Effect Your S-Corp return is the first domino of tax season. If Form 1120-S is late, incomplete, or wrong, your personal tax return may also be late, incomplete, or wrong because your Schedule K-1 flows into your individual return. And yes, the late filing penalty 1120-S can be painful because it is…

How to Read Your Profit & Loss Statement Like a Pro

Small Business AccountingApril 28, 2026194Views 22Likes 0Comments

A lot of small business owners run their company by checking one thing: the bank balance. If there is cash in the account, things must be fine. If the balance feels tight, something must be wrong. That feels logical, but it is one of the biggest financial blind spots in business. Here is why. Your…

Cash vs. Accrual Accounting: Which Method Is Right for Your Business?

Small Business AccountingApril 20, 2026186Views 22Likes 0Comments

You look at your bank account and see cash. Plenty of it. Then your CPA sends over financials and says the business showed a loss. Or maybe the opposite happens. Your bank account feels tight, clients still have not paid, and yet you owe taxes on what looks like a strong year on paper. That…

How to Set Up a Chart of Accounts for Your LLC or S-Corp

Small Business AccountingApril 16, 2026206Views 21Likes 0Comments

Building a business without a proper Chart of Accounts is like building a house without a blueprint. You might still get walls and a roof, but sooner or later, something is going to be crooked, confusing, or expensive to fix. That is exactly what happens when a new business owner connects a bank feed to…

Tag: Small Business Accounting

How to Set Up a Chart of Accounts for Your LLC or S-Corp

S-Corp Tax Return Checklist: What to Gather Before Filing Form 1120-S

How to Read Your Profit & Loss Statement Like a Pro

Cash vs. Accrual Accounting: Which Method Is Right for Your Business?

How to Set Up a Chart of Accounts for Your LLC or S-Corp

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