Many people start businesses and may even keep them for many years. Some even own a business for generations, handing it down from generation to generation. These businesses often become legacies. Preserving your company for future generations requires adaptability, strategic planning, financial success, and a commitment to the business’s values. Decisions you make today can […]
Each year sees changes to the tax code. Those changes usually affect nearly everyone. In 2023, tax changes in the Inflation Reduction Act came into effect, including an increase in per-barrel oil taxes and changes to the standard deduction and Alternative Minimum Tax Rate. Keeping up with the tax changes ensures you file your taxes […]
With the many responsibilities that you must take care of as a small business owner, filing your taxes can become very time-consuming and overwhelming. There are many important steps that you must follow, requirements you must meet and documents you must find before you can complete your taxes. Keep yourself from getting too overwhelmed by […]
The April 17 tax deadline for 2018 is just around the corner. If you’ve left your tax prep until the last minute, chances are that you’re scrambling to make sure you have everything in order. While there is still enough time left to finish your taxes without error, it’s important that you gather the right […]
If you normally throw receipts away, start keeping them for the business. While it’s not mandatory to provide receipts for your taxes, you have a better chance of ‘winning’ against the IRS in an audit. Part of organizing your business taxes is the organization of receipts, including those for services, entertainment and goods.
Start Using Accounting […]
Benjamin Franklin pointed out that “death and taxes” are the only sure things in life. That adage holds as true today as it did in 1789. While both are unavoidable, there are things that you can do to reduce your tax liability and make the ongoing process run more smoothly. By being well-organized and knocking […]
Business owners understand stress. They manage employees, daily operations, and customers. One thing that vexes them more than anything though is filing their taxes. Filing taxes as a business owner can seem like a quarterly uphill battle . It’s important to know, however, that business taxes don’t have to be so frustrating, especially when you […]
