3 Year-Round Habits That Make Business Tax Preparation A Breeze

As a small business owner, tax time will be easier and less expensive if you think about taxes a little throughout the year. How can you do this? The answer may not be as complicated as you think. In fact, it may simply be a matter of developing a few good practices. Here are five that can help any business.  1. Schedule Tax Planning Appointments Rather than wait until March or April to make a single tax appointment, consider adding one or two tax planning appointments with your preparer at different times of the year. [Read More]

Has The IRS Classified Your Business As A Hobby? 3 Things You Can Do

It seems like almost everyone has a side gig these days. Online marketplaces that allow people to sell anything and everything have made it possible for people to turn their hobbies into a viable business. The sale of any item is subject to taxation, but the IRS treats hobby sales and business sales very differently. Most people want to be classified as a business so that they can claim deductions to reduce their tax burden. [Read More]

4 Ways To Offer Employee Benefits And Get Tax Credits Too

As an employer, you want to build employee loyalty while still turning a healthy profit. One way to do this is to make use of benefits for which your company can get tax credits. What type of credit-worthy benefits should you provide? Here are a few options you may want to consider. Health Insurance. Health care coverage is one of the top priorities of many American workers. As a small employer, you may not be obligated to provide health insurance, but doing so provides benefits to everyone. [Read More]

Want to Extend Credit to Your Customers? 3 Things You Need to Know

One of the ways you can make more money as a small business owner is by extending credit to your customers. Extending credit to your customers is one way to allow your customers to purchase goods and services and pay you off over time. This can be a great service to offer your customers, and it can really help you expand your business. However, offering credit can be a complicated process that requires a little more business accounting knowledge than just sending out regular invoices. [Read More]