Monthly Archives: April 2017

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27 04, 2017

Why Am I Paying so Much in Taxes? A Tax Professional Can Help You Avoid Common Mistakes

By | 2017-04-27T15:02:06+00:00 April 27th, 2017|Blog, Financial, Tax|1 Comment

If you've ever wondered why your small business pays so much in taxes, maybe it's because you need to hire a tax professional to help you avoid common mistakes. There are a number of mistakes businesses routinely make that cost them big money when paying taxes, such as not choosing the right entity type for [...]

20 04, 2017

Do You Really Need To Pay So Much in Taxes?

By | 2017-04-20T15:00:24+00:00 April 20th, 2017|Blog, Tax|Comments Off on Do You Really Need To Pay So Much in Taxes?

Tax season is coming to a close in the next few weeks or so. While many people have already completed their returns, there are others who are waiting until the last minute to get things done. Either they don't feel like filling out their taxes, or they're way too busy to get things done. Either [...]

19 04, 2017

Are You Memorizing Transactions? Should You Be?

By | 2017-04-19T14:21:56+00:00 April 19th, 2017|Blog, Monthly GAB, new business owner, QuickBooks|Comments Off on Are You Memorizing Transactions? Should You Be?

You know that QuickBooks saves a lot of time. But have you explored how it does so by memorizing transactions? Your accounting work involves a lot of repetition. You send invoices. Pay bills. Create purchase orders. Generate payroll checks and submit payroll taxes. Some of the time, you only fill out those transaction forms once. [...]

19 04, 2017

Tax Implications of Crowdfunding

By | 2017-04-19T13:30:28+00:00 April 19th, 2017|Blog, Monthly GAB, Tax, The Tax GAB|Comments Off on Tax Implications of Crowdfunding

Raising money through Internet crowdfunding sites prompts questions about the taxability of the money raised. A number of sites host money-raising projects for fees ranging from 5 to 9%, including GoFundMe, Kickstarter, and Indiegogo. Each site specifies its own charges, limitations, and withdrawal processes. Whether the money raised is taxable depends upon the purpose of [...]

13 04, 2017

What’s The Difference Between Independent Contractors and Employees?

By | 2017-04-13T15:44:49+00:00 April 13th, 2017|Blog, Tax|Comments Off on What’s The Difference Between Independent Contractors and Employees?

As your business grows over time you will probably want to expand and hire people for different roles. Luckily there are many options available for companies who need to find talented workers. As an employer, there are two main types of workers: employees and independent contractors. What's the difference you ask? For a new business, [...]

7 04, 2017

Don’t Overlook Tax Deductions for Home Ownership

By | 2017-04-07T12:59:15+00:00 April 7th, 2017|Blog, Monthly GAB, Tax, The Tax GAB|Comments Off on Don’t Overlook Tax Deductions for Home Ownership

Whether you already own a home or are considering buying one, you should be aware of the many tax benefits that go along with home ownership. There are plenty of reasons for owning a home, including the potential for capital appreciation and the fact that many of the costs are tax deductible, while rent is [...]

7 04, 2017

Estimated Tax Payments Are Not Just for the Self-Employed

By | 2017-04-07T12:51:38+00:00 April 7th, 2017|Blog, Monthly GAB, Tax, The Tax GAB|Comments Off on Estimated Tax Payments Are Not Just for the Self-Employed

Unlike employees, who have income, Social Security, and Medicare taxes withheld from their wages, self-employed individuals must prepay their taxes by making quarterly estimated tax payments. These are referred to as estimated tax payments because the self-employed individual must estimate his or her net earnings for the year and pay taxes on a quarterly basis [...]

6 04, 2017

The Benefits of Making a Business Plan with Forward Focused Financials During the Startup Phase

By | 2017-04-06T15:27:23+00:00 April 6th, 2017|Blog, Business Advice, Financial|Comments Off on The Benefits of Making a Business Plan with Forward Focused Financials During the Startup Phase

As an entrepreneur you have to juggle many responsibilities, especially when you are trying to start the business. From marketing to product development, it's important to make sure everything goes smoothly as a founder. Although it may be tempting to just focus on other things, there are many advantages to making a business plan with [...]