Tax and Accounting
Sweeping Up Tax Savings: Tax Deductions for Self-Employed Housekeepers
There may be nothing more rewarding than laboring all day to clean up a messy house and then seeing how sparkling and new it looks after this hard work. While housekeepers may get this nice…
Tax Tips & Deductions for Food Truck Owners
Do you serve up hot subs, fresh salads, and sweet treats around town in your decked-out food truck? If so, you’re part of the rapidly growing mobile cuisine industry. While it can be quite rewarding…
3 Must-Haves of Small Business Tax Provision Software
Recently published surveys indicate that 50% to 70% of the tax departments in publicly traded companies exclusively use spreadsheets to manage ASC 740 processes. However, the percentage would be higher if the surveys focused strictly…
Where the Top 4 Small Business Payroll Processing Errors Occur
Did you know that as soon as you hire on a person to assist you with your self-employed business, you immediately have to add payroll expenses to your overhead costs? Small business payroll expenses often…
Startup and Organization Costs
When starting a business, the owners are likely to incur two classes of costs that are not normally encountered in the ongoing operations of the business and should not be included as operating expenses. These…
What is Depreciation and How Does It Affect My Taxes?
You’ve likely heard the terms depreciate and depreciation when it comes to tax matters. But do you really understand the basics of these concepts and how they apply to your taxes? Depreciation Defined In layman’s terms, the basic concept…
Common and Costly Bookkeeping Mistakes
Tax Question What are common and costly mistakes made in corporate bookkeeping during the year and how can these be avoided? Facts There are many simple checks and cross checks that can be done monthly…
Figuring Out the Best Corporate Year End Date
The year end date is important as it identifies the end of a corporation’s business year and can have an impact on tax planning. It has to be determined for a corporation’s first tax filing…
What the IRS Does Not Mention About Crowdfunding and Taxes
In Information Letter 2016-0036, released June 24, the IRS explains general rules that might apply to someone’s receipts of funds via a crowdfunding platform. It doesn’t mention any websites, but examples include Kickstarter and GoFundMe….
How to Manage and Pay Tipped Employees in Restaurants
In the restaurant industry, tips are more than something you’d associate with a homespun tip jar by the cash register—they’re a primary source of income for tipped employees. The catch is tips are also taxable…
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