Finance
IRS Reveals 2017 Dirty Dozen Tax Scams
Each and every year, the Internal Revenue Service releases a list of the “dirty dozen” tax scams the agency recommends taxpayers be on the lookout for throughout the year. That’s because scammers seem to come…
9 Smartest Ways to Avoid Faulty Loans
Loans are vital for small businesses looking to grow and build their credit history. Yet obtaining an SMB loan isn’t easy, and many applicants never qualify. Desperate for funding, they turn to companies that promise…
About Personal Use of Corporate Assets
It is no secret that the IRS looks carefully below the surface for personal use of company assets (including cash) in its corporate income tax audits. This insight addresses more the impact of such behavior…
How to Take Advantage of the Section 179 Deduction
Small businesses have a friend at the IRS. This friend, known as the Section 179 deduction, allows small businesses, in many cases, to deduct the entirety of a capital investment in a single tax year….
Long-Term Debt on a Balance Sheet
What is Long-Term Debt on a Balance Sheet? The Long-Term Debt category appears as a long-term liability on a Balance Sheet. The balance represents the total outstanding balances of all bank loans, mortgages and financial…
5 Ways of Caring for Your POS
No matter how durable your POS hardware is, it is still subject to wear and tear because of long hours of operation every day. This cannot be avoided especially in a busy restaurant. You need…
New IRS Filing Deadlines for Partnerships and C Corporations in 2017
The tax-filing deadlines for small business owners have traditionally remained the same for many years. More specifically, March 15 has been a longstanding date on the calendar for entrepreneurs who operate formal business entities across…
3 Vital Multi-State Tax Facts for SaaS Companies
Last week, we discussed various multi-state tax issues software companies often overlook. This week we look at another industry that often misses sales and use tax ramifications on their sales: Software-as-a-Service (SaaS). Many think that because…
Don’t Make These 4 Common Tax Mistakes
As a business owner, one time of the year that you might not look forward to is tax time. After all, not only do you probably not want to have to pay in any taxes,…
When Should I Book Revenues?
It’s the end of one year and the beginning of the next. Small Business owners have some discretion as to when they book revenues on the last day of the year. First you have to…
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