So you’ve finally managed to get up the courage to leave your job and start a small business. Congratulations. You’ve already done what so many people dream of doing. You’ve taken a leap of faith. You’ve conquered your fears about what may happen and you’ve tried to make your dreams come true. Now what? Unfortunately, [...]
Your company is there to earn money—not lose it. Even if you're not in the negative, it's possible that cash is slipping through your fingers without you realizing it. You don't notice the money leak because the problems that cause it aren't in your face. For example, if you have a rude employee, he/she [...]
When you first start a business, there are going to be many things to take care of. Are you making a product? In that case, you’ll have to buy raw materials, set up a production facility, transport your product to various outlets, create a marketing plan and work with a sales team. Your final aim [...]
Nowadays, there can be a lot of turnover in any organization. It’s hard to find employees who will stay with you for the long term. So when it’s time to hire a new employee, you might need to know the answers to a few questions first, such as whether having that employee as a part [...]
Deducting Startup Costs for Your New Business at Tax Time Before you earn your first dollar, before you are even open for business, your startup can incur considerable expenses. The money you spend opening your business can often be deducted; the IRS allows you to deduct many of these one-time startup costs. Speaking with an [...]
First 2016 Estimated Tax Payment Due Soon The government wants its tax revenue up front and has a “pay-as-you-go” system, and if your pre-paid amount is not enough, you become liable for non-deductible interest penalties. To facilitate that concept, the government has provided several means of assisting taxpayers in meeting the “pay-as-you-go” requirement. The primary [...]
Tax Filing Deadline Rapidly Approaching Just a reminder to those who have not yet filed their 2015 tax return that April 18, 2016 is the due date to either file your return and pay any taxes owed, or file for the automatic six-month extension and pay the tax you estimate to be due. Usually April [...]
We all get in our day-to-day routines. Waking up, getting a shower, eating breakfast, going to work, settling in at your desk, going home -- we can get so into our routines that we never really stop to notice the things outside of it. But never fear! We are here to help you take [...]
5 Ways to Upgrade Your Accounting for 2016 to Save Time and Money! Upgrade to New Software Several great options are available for small business owners to take control of their accounting through quality software. These software programs are delivered to your business via the internet, which makes them more affordable up front and keeps [...]
Article Highlights: Penalty Being Phased in Over Three Years Larger of Two Amounts Flat Dollar Amount Percentage-of-Income Amount Penalty Applied by Month Many taxpayers are surprised by the size of the penalty being imposed for not having health insurance in 2015. This may be a wake-up call for many who didn’t realize the penalty is [...]