There are many tax scams out there with the purpose of stealing your identity, stealing your money, or filing fraudulent tax returns using your private information. Tax scammers work year-round, not just during tax season and target virtually everyone. Stay alert to the ways that criminals pose as the IRS to trick you out of…
Taxes for the individual can often be onerous, but when you have a business or company involved, the tax situation can be downright frustrating and confusing. The tax laws seem to change with each passing year, and one year there may be a benefit to you, but the next it is gone and replaced with…
When you first began your business, you naturally had high hopes that people would accept your business vision. And latch onto what you had to offer. It is the dream of everyone that starts a company. But when growth occurs fast and goes beyond your expectations, it can be overwhelming and stressful. You want to…
Hiring your child to work as a legitimate employee is a great tax strategy, which got even better with the Tax Cuts and Jobs Act. Starting in 2018, the standard deduction nearly doubled, from $6,350 to $12,000, meaning under the new law, your child can shelter almost twice the wage income without paying income taxes. …
As a small business owner, you will have a choice to make regarding what you want to do about your bookkeeping. You may decide that you will maintain your books and keep track of everything on your own. While you might think that this will save you some money, the truth is that it may…
For many small businesses today, financial statements are an essential part of what you must provide each year. Your banks, lenders, creditors, and financial institutions may require that you give these statements annually. So that they can see how you are performing. And if they want to keep assisting you in securing financing for what…
When it comes to your business, it is never too early for you to think about taxes. You may dread having to deal with the process, the paperwork, going through records and receipts, and so on. Mistakes are easy to make, especially if you are not current on your understanding of the latest state and…
It is a common occurrence in the business world today. You start a company and receive the immediate buzz and boost that helps you build a reputation and a name for your business. While the growth looks good at the start, after a while you see things start to level off or even go in…
You naturally have goals you want to achieve with the company you have started. Providing the services that your customers and clients need will help you develop relationships and make your mark in the business world. However, meeting the needs of your customers is just a part of having a successful company that thrives. For…
Owning and operating your own business can be freeing, giving you more significant input and control in what goes on each day as you allow your vision to come to life in the products and services you offer. As fulfilling as it can be for you, operating a business today is so much more than…
