The end of the year involves a significant financial to-do list to prepare for the upcoming tax season, including ways to minimize your company’s tax liability. You are going to be checking your financials, making sure that everything is up … Continued
Owning a small business comes with many unique challenges, including managing the financials of your business. You may also be required to submit tax returns or other financial reports to the government relating to your business. While you might think … Continued
Accounting and tax preparation can seem very overwhelming if you are not properly prepared. Auditors are evaluating their private business clients to ensure they are properly prepared for filing revenue statements that comply with the new revenue recognition standards. These … Continued
Divorce is one subject that affects your tax accounting. However, new laws have come into effect and things are changing. In some situations, an ex-spouse is legally obligated to make payments to the other person. This is often referred to … Continued
The IRS offers higher education tax credits for those who are in college or have a dependent in college. This credit is important to know about when taking care of your tax accounting, as it can help enhance your return … Continued
As a business owner, it is critical to understand what the value of your business is. Not only does having your business valuation helpful to understand where your business is at and how that can impact your opportunities to grow. … Continued
A critical part of running any business is managing the accounting and tax aspects, which help you to understand your financial position. For a new business, starting off on the right foot in terms of managing the financial aspects of … Continued
Many people rely on Uncle Sam to sort out their week-to-week tax withholdings, but the 1 in 10 Americans who are independent contractors do not have that luxury. Working freelance comes with many perks, but dealing with independent contractor taxes … Continued
The chances of your tax return getting audited by the IRS are about 1 in 160. Dealing with an IRS audit can be very stressful, which is why you need to work hard to avoid this experience. Most people fail … Continued
Tax season might be “tomorrow’s problem” for most of the year, but it’s coming up – fast. It takes the average American 13 hours to file their taxes and that figure rises to 24 hours for businesses. With preparation, you … Continued