This is a great time of the year for tax planning – because it’s PROACTIVE and well-timed. Make sure these tax-reducing ideas are on your radar for 2022.
Understanding Tax Deductions for Mileage & Vehicles
One of the profit decisions business owners need to make is around vehicles. Should you buy a new vehicle or a used one? Can you buy a vehicle with all of your profit and get a tax deduction for it?
Top 50 Tax Deductions in 2021
A deduction is anything you spend or incur in your business that is an expense of some sort. It’s a deduction against the revenue of your business, whether it’s a cost of goods, an expense, or even a home office deduction.
Top 12 Questions When Hiring An Accountant
Year-end is the perfect time to decide if you’re with the right accounting partner. Here are the top 12 questions you should consider asking when it’s time to hire an accountant, tax preparer, or accounting team for your business.
Income Tax Planning For Your Next Big Quarter or Launch
As a business owner, it’s your responsibility to understand tax – its basics at the very least – because that’s part of managing your business.
The IRS Is NOT Your Boss, So Stop Acting Like It!
Stress is a huge thing when you talk about the IRS. But it’s a matter of changing your mindset, having a plan in place, and getting the help that you need. Here are 7 ways to help you deal with the IRS process minus all the stress and fear.
What Online Business Owners Should Know About DIYing Their Taxes
Is there anything quite like the power high of starting your own online business? Especially when things are going well, it’s just amazing to see your profits growing and think, “I did that?!” We’re all for enjoying the heck out of this power high. You’ve earned it—you should enjoy it! However, it does come with…
Didn’t Collect Sales Tax Last Year? It’s Totally Fine! (for now)
If you didn’t collect and remit sales tax in your Amazon FBA biz, this new tax amnesty program lets you off the hook. Yes, really! Amnesty for back business taxes you didn’t pay? Yes please! The Multistate Tax Commission (which you probably haven’t heard of before now) recently created a program offering sales tax…
Extra, Extra! IRS Issues New Date for Filing W-2s
Put this on the list of the things you don’t want to remember the morning you wake up from New Year’s Eve. The IRS has changed the deadline for employers to file W-2 forms to the Social Security Administration. The deadline is now January 31. [Tweet “Mark your calendars: the new deadline for employers to file…
2016 Tax Season Countdown: March
If you have kids, you know that feeling. Maybe they came home grumpy from a bad day at school. Maybe they stormed in from playing outside with siblings or friends who were teasing them. Maybe they’ve been misbehaving and earned themselves a time-out. Whatever the reason, after the dust has settled, you find yourself creeping up the…