3 Things You Need to Remember About Profits

Are you a small business owner? Are you looking to start your own business? The politicians can misunderstand profits, and so can the general...

Why You Shouldn’t Do Your Own Bookkeeping

Having to deal with bookkeeping matters will mean that your focus will be pulled away from more important things like acquiring new customers and getting your company name out there.

Small Business Accounting: How Much Of It Do You Really Need?

Entrepreneurs usually know very little about small business accounting when they launch their startup or local business. They’ve had an idea or see a...

Start Now to Save on Small Business Tax Preparation for 2014

Although it seems that tax season just ended, it is important to prepare for the future. Tax preparation is something every business owner should constantly keep in mind, and the 2014 tax season will approach quickly.

Year End Planning: Payroll

Doing your last payroll for the year is an important time to make sure you have a tax plan in place. That payroll is often the last cash transaction for the year; your last chance for tax deductions.

Be Ready to Protect Your Money When the IRS Audits

We can all expect to get bad news occasionally throughout our lives and for most of us, the good news outnumbers the bad, so we shouldn't complain too much. However, that's hard to remember when you receive a letter from the IRS notifying you of an audit; an experience I was treated to not long ago.

Business vs. Hobby

Many taxpayers engage in activities they enjoy and do it for a business purpose. Whether the IRS considers it as a business or hobby has important income tax implications.

Don’t Miss These Small Business Tax Deductions

For any small business, it is critical to be aware of available tax deductions in order maximize profit. Surprisingly, many businesses fail to realize some of the deductions that apply to their business. Here is a list of tax deductions shared by the US Small Business Administration that you should be aware of as a small business owner.

Home Office Deduction Changes for 2013

If you use your home for business, there are expenses you can deduct on your tax return. The home office deduction is available to both home owners & renters alike. The home must be used by a self-employed individual or an employee who works from home for his employer's convenience.

10 Tax Tips for Work-at-Homers

When you file taxes as a solo business owner, things are more complicated than those days when you may have a received a W2 from a single employer. However, you've also got plenty of opportunities to trim your tax bill.

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