Tax and Accounting
Accounting: What Kind of Bean Counter Do You Need?
Accountants are trained, certified and usually quite experienced in financial analysis, both creating and reviewing data. Bookkeepers are often trained on the job although sometimes more formally and handle the physical work of accounting for…
How to Prepare for Tax Season in the Current Climate
The new Tax Cuts and Jobs Act has substantially reformed the tax code moving forward. Because it was made effective immediately, the new law has businesses and individual taxpayers scrambling to understand all the law’s implications. The…
How to File Taxes as a Self-Employed Sole Proprietor
The most common form of small business ownership, a sole proprietor (sole proprietorship if you’re being formal) is an “unincorporated business” where the owner literally owns the entire business. As such, for tax reasons, the…
If You Own a Small Business, Don’t Miss These 5 Key Tax Tips
Tax season is drawing near, which means headaches and stress for small business owners looking to save every penny they can. Combine the normal stress with new headaches surrounding the tax bill recently passed by…
New Tax Law Gives Pass-Through Businesses a Valuable Deduction
Although the drop of the corporate tax rate from a top rate of 35% to a flat rate of 21% may be one of the most talked about provisions of the Tax Cuts and Jobs…
Getting Ahead of the Curve: Technology and Accounting/Bookkeeping
According to the nonprofit organization SCORE, a full 40% of small business owners feel that bookkeeping and taxes are the worst part of owning a business. Small business owners spend, on the average, 41 hours or more…
Real Estate and the Net Investment Income Tax and Self-Employment Tax
If you are planning or are actually doing a real estate business, either as an investor or as an active participant, you will have to deal with these: Net Investment Income Tax: If you have…
The Tax Mistake That Can Wreck Your Credit
If your business is privately held, as most small businesses are, your business finances are generally hidden from sight. But there is a way other businesses can get an idea of how healthy your business…
Family Business: Partnership Mergers
In any successful family business there will likely come a time when descendants will want to take over the business from the older generation of owners. Usually, this will require that entities will need to…
Direct Selling Tax Deductions Save $
Direct selling tax deductions are one of the top advantages of working from home. Operating a direct selling business from home opens the door for many income tax deductions. Did you ever notice that all…
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