5 Tips for Year-Round Tax Season Preparation Preparing for tax season is not something that should be rushed and done as the season approaches. Tax preparation should be a year-round venture, especially when it comes to small businesses. Here are five very important tips for year-round tax season preparation so your small business is not
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3 Finance Tips for Small Businesses Small business owners are accustomed to taking risks. They know that risks are an important part of the business world and to their success. Despite these risks, a small business is most likely the main source of income for small business owners. This means that they should still follow
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A revenue procedure (Rev Proc. 17-33) was released on April 20, 2017 by the Internal Revenue Service that offers taxpayers additional guidance on the Protecting Americans from Tax Hikes Act of 2015 (the “PATH Act”). This revenue procedure includes several amendments to depreciation expensing. In the PATH Act there were retroactive and permanent changes made
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Sales and use tax are two very complicated issues for business owners across the country. Tax laws are constantly being revised at the state and local levels, making tax laws a very complex issue for business owners. We have put together a guide on how to manage sales and use tax so you can make
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The majority of people who start their own business do so because they are passionate about their work and the industry in which they operate. This means that they typically don’t know much about accounting. Because of this, these entrepreneurs will have trouble interpreting the profit & loss statement (“P&L”) that is necessary in running
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With the new year in full swing, it means that tax season is right around the corner. In fact, tax season begins the minute the calendar changes from December to January. Tax season can be especially difficult on real estate agents, most of whom are self-employed. Here are some tips on how real estate agents
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The Supreme Court has once again upheld tax subsidies for everyone, continuing a decision they first made a couple of years ago. The decision was 6-3 as the court ruled that subsidies should be available for all people, not just those who purchase health insurance through state exchanges, but also those who purchase insurance through
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It’s always nice to donate to charities or organizations that are near and dear to your heart, but it makes the situation even better when you can claim those donations on your tax return. You will be allowed to write off the cash value of charitable donations to tax-exempt organizations if you itemize the deductions
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