Getting an early start to your taxes can help you minimize your tax burden, increase deductions, and avoid the end of the year scramble. Read more
If the legal protection of the two types of these business entities is almost the same, which is better, corporation or LLC? Most of the time, the simple answer is this – an LLC is better. It’s simpler to form and it allows for the most favorable tax elections.
Companies using a calendar year to do their financial statements need to take this time of the year to do budgeting for next year. Budgeting? Why would a company need that? Just do their thing – sell and hope for the best? That’s NOT a good way to run a company. Not good at all. All the big corporations budget everything – sales, expenses by category, cash flow, etc, etc. And, they do it on a quarterly basis. Why? One, they want a target that they believe they need to hit and so they then plan what they must do to hit that target. And, secondly, they use it for accountability – to measure the performance of each subsidiary or department that fed their budgets into the overall budget. Planning and accountability.
With the tax deadline quickly approaching make sure that you are aware of the deductions and credits that your small business qualifies for.
The hour will be dedicated to answering your tax-related questions and concerns and offer tax advice you can implement throughout the year. Read more
We asked business leaders and entrepreneurs what signals small businesses need to look for when deciding if they need a new revenue stream to offset losses.
Ready for the 2021 tax season? These tips will guide business owners filing small business taxes for tax year 2020 amid the COVID-19 pandemic.
To help you better prepare for tax season, we asked small business owners and accountants for their best tips for doing business taxes. There are several ideas that may help you prepare business taxes for years to come.
How to select the business entity type for your small business.
In the final quarter of this most unusual and challenging year, there is still time to take action and favorably impact your bottom line and your tax bill for 2020. Read more
The best way to reduce your risk of an audit is to keep thorough, accurate records and file on time. If you ever do get audited, follow these steps to get through the process... Read more