The April 15 tax deadline recently passed with relief to many Americans around the world as they had successfully completed their 2018 tax returns. Although tax season is technically over, tax planning for small businesses is a year-long effort. The sooner you start and plan your taxes, the bigger i…Read More
When tax season rolls around most small business owners feel uneasy about their tax preparation. Figuring your business taxes yourself may seem scary, but it's usually doable. If you keep records of your income and expenses throughout the year, you use them to figure your net taxable income. What is…Read More
As tax season rolls around each year most Americans dread the tax preparation and assistance process. Advancements in technology have allowed people to file and submit their taxes with the IRS in two different ways: by e-file or mailing it on paper. According to the IRS, 90% of Americans e-filed the…Read More
Tax season can be extremely stressful for small business owners, especially if you don’t understand the taxpaying process. We get it. No one enjoys filing their taxes, even when small business owners turn preparation over to a skilled professional or CPA firm. Filing small business taxes is an imp…Read More
There's nothing simple about starting and owning a business. If you’re a small-business owner, you’ve probably heard of the 2018 tax bill known as the "Tax Cuts and Jobs Act." This bill has reformed corporate taxes in the United States, especially for small businesses, making this one of the b…Read More
With self-employment comes freedom, responsibility, and a lot of expense. You take on risks and costs that you don’t have when you work for someone else. Having your own business definitely increases the amount of record-keeping you have to do for tax purposes. When you’re digging through boxes …Read More
Taxes can be very complicated, and many small business owners struggle to understand how their tax liability is determined. Business owners struggle to understand the corporate income tax rate, which deductions they are eligible for, and what terms like pass-through rate even mean. In addition to in…Read More
Small businesses are vital to the American economy. Despite how vital they are, it is not always easy for small businesses when it comes to tax compliance. According to IRS research, tax compliance burden increase with the size of business, however, it is far easier for large corporations to handle …Read More
As your business grows, it is essential to have a sound small business bookkeeping system. Keeping accurate financial records is crucial for many things such as preparing taxes for assessing the health of your business. A general ledger is one of the first tools a maturing small business needs to es…Read More
While running a small business, every penny counts. Your small business may have the ability to minimize taxes which could be the difference between profitability and just scraping by. Tax season for small businesses can often be quite confusing and many small business owners miss out on small busi…Read More
