Tax Preparation Archives

Convention Tax Rebate 101

By Lisa Patrick | Aug 12, 2013

Acquiring knowledge, having fun, and benefiting your business in a single business trip is ideal. Having your travel expenses eligible for tax deduction? That’s even better. If you attend conferences and conventions for your business, the government offers income tax deductions on the expenses that were incurred during the trip.

Is Your Small Business Getting Taxed by High Costs?

By Outright | Aug 6, 2013

As a small business owner, would you like to be certain that at the very least you are not paying more tax than necessary, and that you’re making all the tax savings you can? Read on for top tips on how to lower your small business taxes for the next tax season.

5 Tax Deductions Small Businesses Shouldn’t Fear Taking

By 1800Accountant | Jul 31, 2013

Every tax-filing season, most Americans go on a quest to find as many tax deductions as possible. At the same time, many small business owners and independent contractors leave money on the table because they fear that certain tax deductions will draw the attention of auditors.

Retirement Plans for the Small Business Owner: The Solo 401k

By Ted Jenkin | Jul 29, 2013

Self-Employed individuals and owner-only (and the owner’s spouse) businesses and partnerships can save more for retirement through a 401(k) plan. The Self-Employed 401(k) allows you to take advantage of this increased retirement and tax savings opportunity with a full range of investment options.

Retirement Plans for the Small Business Owner: The SIMPLE Plan

By Ted Jenkin | Jul 19, 2013

Since there are so many people setting up individual LLC’s or home based side businesses, you need to keep a close eye out this time of year for setting up one kind of retirement plan, a SIMPLE IRA. The deadlines are just around the corner in the next few weeks, so could this be the right type of retirement plan for you?

Start Now to Save on Small Business Tax Preparation for 2014

By 1800Accountant | Jun 19, 2013

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.

Don’t Miss These Small Business Tax Deductions

By Rick Gossett | Jun 13, 2013

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.

Lower Your Business Taxes with an LLC, or Too Good to be True?

By Bill Wortman | Jun 13, 2013

Many entrepreneurs decide to form an LLC in order to protect their personal assets from seizure by a bank or lender, but there are several tax advantages that incentivize LLC formation as well.

Estimated Tax Payments for Small Business Owners

By Bill Wortman | Jun 13, 2013

As a small business owner, you follow a different set of tax rules than your employees. Making estimated tax payments throughout the year is required and should be handled in a way that’s not particularly burdensome.

Writing Off Automobile Expenses 101

By Outright | Jun 7, 2013

Now that you have started your business, you’ve heard you can write off automobile expenses. So are you ready to buy that luxury sports car and write off the costs of driving around town and run errands?