Do you use an accountant to prepare your taxes or provide financial advice? If you’re trying to DIY to save some money instead of hiring an accountant, you could be costing yourself more than you save. In the TSheets 2019 Tax Season Debrief, a whopping 88% of small business owners with employees say hiring an […]
How an Accountant Can Save Your Business Money at Tax Time—And All Year Long Read More »
The big five accounting firms get most of the attention in the industry. But they only make up 10% of the firms in the U.S. Overall, 90% of these accounting firms have 10 or fewer owners or partners. Wolters Kluwer Tax & Accounting designed its new TaxWise Mobile app for tax preparers. These preparers have
New TaxWise Mobile App Helps Preparers Keep in Touch Clients Read More »
For individual taxpayers, refunds are a common thing. But for small businesses, it depends on the type of entity you establish and the type of taxes you pay. 2018 Small Business Tax Refunds Survey According to a report from OnDeck, 65% of the business owners received a tax refund in 2018. And while 75% said
65% of Small Businesses Got a Tax Refund for 2018 – Most Happy With It Read More »
If your business has grown beyond your state’s boundaries so that you operate in more than one location, this can trigger tax complexities you need to address. Here are some to consider: Business Taxes When Operating in More than One State State Income Taxes If you operate in more than one state, how do you
What to Know about Taxes When Operating in More than One State Read More »
By Tom James In years past, sales taxes were a relatively simple matter for online businesses. A company only needed to collect and remit sales taxes when selling to residents of the state where the business was located. That changed, however, in 2018 when the Supreme Court handed down South Dakota v. Wayfair. Inc., a
E-Commerce Sales Taxes: What Your Online Business Needs to Know Read More »
Some federal tax breaks depend on being small. Small, in this case, means the number of employees you have. If your business grows, you may think about adding employees. But consider the impact this will have on your access to certain small business tax breaks. Credit for Starting a Retirement Plan This amounts to a
Tax Breaks You Can Only Claim if Your Payroll Is Small Read More »
Half the respondents to a new survey saw their tax bill drop. And some tout the 2017 Tax Cuts and Jobs Act as a reason. But another equal amount reported their tax bill remained the same. The Q1 2019 Vistage CEO Confidence Index also found a small percentage of respondents saw increases in their taxes.
50% of Small Business Owners Saw a 10% Tax Bill Decrease in 2019 Read More »
Are you throwing away money due to tax deduction mistakes? Doing your small business taxes is never a pleasant experience (well, it may be if you’re an accountant). This year’s taxes could be even more nerve-racking than normal since the Tax Cuts and Jobs Acts (TCJA), which took effect in January 2018, made some substantial
Are These Tax Deduction Mistakes Costing Your Small Business Money? Read More »
Business owners know that most of their expenses are deductible. But it might surprise you to learn how many leave money on the table by not claiming all allowable write-offs. Overlooked Business Deductions Here are the most commonly overlooked deductions. Carryovers Your tax activities in prior years sometimes yield deductions in the present. So check
Take Advantage of Overlooked Business Deductions – Read These 10 Suggestions Read More »
Dealing with taxes is a fact of life for small business owners. Annual expenditures for taxes for most owners are likely their largest outlay each year, exceeding rent or mortgage payments, marketing costs, and vehicle expenses (the only possible larger expenditure is payroll). Beyond payments to the government for all of the taxes you pay—income
11 Things You May Not Know about Small Business Taxes Read More »
