Wade Bookkeeping & Tax

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Wade Bookkeeping & Tax We offer a full line of bookkeeping, payroll and tax services to help small business owners focus mo

10/08/2026

Small Business Thursday

One of the biggest misconceptions about bookkeeping is that its purpose is simply to get everything entered so we can prepare a tax return.

That's the minimum.

Good bookkeeping should be able to answer questions like:

• Are you actually making money?
• Which expenses are increasing?
• How does this year compare with last year?
• How much cash does the business really have available?
• What is your likely taxable income going to be?
• Can the business afford another employee, vehicle or piece of equipment?

If your books don't answer those questions, they're probably not giving you everything they should.

As we move into the fourth quarter, business owners should be looking at their year-to-date Profit & Loss and Balance Sheet — not waiting until tax season to find out how 2026 went.

Bookkeeping shouldn't just record the history of your business. It should help you run it.

10/07/2026

Here’s a tax thought for your Wednesday:

There’s a big difference between tax preparation and tax planning.

Tax preparation looks backward. We take what happened during the year and report it correctly.

Tax planning looks forward and asks: Is there anything we should do BEFORE December 31 that could improve the result?

For an individual, that might mean reviewing withholding, retirement contributions, capital gains and losses, charitable giving, or estimated taxes.

For a business owner, it might mean equipment purchases, retirement plans, payroll, reasonable compensation, bonuses, depreciation, or simply figuring out what the business is actually going to make this year.

October and November is actually a great time to do this. There are still two to three months left in the year — enough time to make decisions instead of discovering the result when we prepare the return next spring.

The tax return tells us what happened. Tax planning gives us a chance to influence what happens.

07/31/2026

Financial Friday

Myth or Fact?

"If my business made more sales this year, I automatically made more money."

❌ Myth ❌

Sales are only one piece of the puzzle.

If expenses increase faster than sales, your profits may actually go down.

That's why successful business owners don't just watch revenue.

They also monitor:
• Gross Profit
• Operating Expenses
• Net Profit
• Cash Flow

Growing your sales is important.

Growing your profits is even better.

Question: Which number do you watch most closely in your business?

Have a great weekend!

— Wade Bookkeeping & Tax Services

07/30/2026

More Than Just Tax Returns

At Wade Bookkeeping & Tax Services, we believe our job is much bigger than preparing tax returns.

We help individuals and small businesses understand their finances, stay compliant, and make informed decisions throughout the year.

With decades of combined experience in bookkeeping, tax preparation, payroll, and accounting, our goal is simple:

Help our clients spend less time worrying about paperwork and more time growing their businesses.

We're proud to serve the businesses, families, and organizations that make our community such a great place to live.

Thank you for trusting us.

07/29/2026

Tax Tip Wednesday

💡 Tax Planning Starts Long Before Tax Season

One of the biggest misconceptions we hear is:

"I'll worry about taxes next spring."

Unfortunately, by then many opportunities to lower your tax bill have already passed.

The best tax planning happens throughout the year—not after the year is over.

Keeping good records, tracking expenses, planning purchases, and meeting with your tax professional before year-end can often make a significant difference.

The best way to reduce surprises in April is to plan in August.

07/28/2026

Payroll Tuesdays!

Paying Employees Isn't Just Writing Checks

Many small business owners think payroll is simple.

Until they receive a letter from the IRS.

Payroll involves much more than paying employees.

It includes:

• Payroll tax deposits
• Tax filings
• W-2s
• New hire reporting
• Overtime rules
• Employee records
• State unemployment reporting

A small mistake today can become an expensive problem months later.

Taking payroll seriously protects both your employees and your business.

07/27/2026

Money Monday's:

Do You Know Your Break Even Number?

Every business owner should know one number before they make any major decision.

How much revenue do you need each month just to keep the doors open?

If you don't know that number, you're making decisions without a map.

Knowing your break-even point helps you answer questions like:

✔️ Can I hire another employee?
✔️ Can I afford new equipment?
✔️ Do I need to raise my prices?
✔️ How much do I need to sell this month?

Bookkeeping isn't about recording history...

It's about helping you make better decisions for tomorrow.

Question: Do you know your monthly break-even number?

07/24/2026

We are going to start a few new things here on Facebook. One will be Financial Friday's. So here is our first one:

💰 Financial Friday 💰

True or False?

"As long as there's money in my businesses bank account, my business must be making money."

❌ False.

Your bank balance only tells you how much cash is in the account today, it doesn't tell you how healthy your business really is.

That money may already be spoken for:
• Payroll next week
• Sales tax you've collected
• Quarterly estimated tax payments
• Vendor invoices that haven't been paid
• Loan payments coming due

A healthy business isn't measured by its bank balance alone.

It's measured by understanding your:
✅ Profit & Loss Statement
✅ Balance Sheet
✅ Cash Flow
✅ Accounts Receivable
✅ Accounts Payable

Many profitable businesses struggle with cash flow, while some businesses with modest profits have excellent cash management.

Knowing the difference can help you make better decisions and avoid unpleasant surprises.

Question for you: What financial report do you review most often; your bank account, Profit & Loss, or something else? Let us know in the comments!

Have a great weekend!

Wade Bookkeeping & Tax Services

01/02/2025

If you are a client of ours and have access to your portal, you should have received an email around lunch with your 2024 Tax Organizer. We will start mailing out organizers for those that need it mailed on Monday. If you are not a client and are in need of someone to help you in preparing your 2024 tax return this year, feel free to reach out and give us a call, we would be happy to help.

02/21/2024

So a new tax season is off. If you are needing any help or assistance with preparing your tax return this year, feel free to give us a call or to email our office. Also keep us in mind if you are a small business and need help with recordkeeping, bookkeeping, payroll or any of the local county, city and state taxes that your business may deal with.

Address

1874 Highway 41 South
Greenbrier, TN
37073

Opening Hours

Monday 9am - 4pm
Tuesday 9am - 4pm
Wednesday 9am - 4pm
Thursday 9am - 4pm
Friday 9am - 4pm

Telephone

+16158595772

Website

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