Small Business Tax Update!

Posted on: April 4, 2014

Small Business Tax Update -Now that your corporate tax return or your corporate tax extension has been filed, it is as good a time as any to begin making changes that will save your business tax dollars and make tax record keeping a little easier. The following points highlight some small business tax issues that you may want to consider as you move your business forward. The Obvious Have an organized accounting system that includes entering all business expenses in a systematic and timely manner. Along these same lines, keep personal and business expenses separate. Never overlap the use of … Click to Read More

Tax Alert for Small Business Start-Ups!

Posted on: April 3, 2014

  Tax Alert for Small Business Start-Ups! – Any new business owner will soon realize that business taxes are one of the largest business expenses. This being the case, saving money on tax dollars is one of the most effective ways of increasing profitability. However, since the IRS tax code governing the start-up and continuing operation of a small business is so fluid and complex, keeping up with all of the available small business tax breaks can be a daunting task in itself. Outlined below are some of the ways that small businesses start-ups can save tax dollars in 2014. … Click to Read More

Some Business Tax Mistakes To Avoid

Posted on: March 6, 2014

Some Business Tax Mistakes to Avoid Some Business Tax Mistakes to Avoid – Since the sum total of the taxes paid by a business is such a major expense, the saving of tax dollars can be one of the most important contributing factors to business success and profitability. With the corporate tax deadline fast approaching, this article is focused on giving business owners a heads up on some common tax mistakes to avoid. One common business tax error is to incorrectly classify workers as independent contractors when they should be classified as employees. Unfortunately, selecting the correct classification can be … Click to Read More

Small Business Tax Deduction Alert!

Posted on: February 17, 2014

Small Business Tax Deduction Alert –¬†With the 2013 business tax deadline fast approaching, it is important to be aware of those tax breaks that are available to help your business reduce its overall tax liability. In any given year, the use of tax deductions, tax credits, tax exemptions and tax incentives can significantly reduce the tax bill that your business will have to pay. On the flip side, to overlook these tax breaks essentially means that your business will overpay its tax bill. The following is a list of some of the small business tax breaks that are available for … Click to Read More

Tax Time: Choosing Right Business Entity is Crucial for a Small Business Owner

Posted on: February 6, 2014

Choosing the right business entity is one of the most important decisions a small business owner has to make. While many factors must be taken into account in making this choice, the tax implications of the various business structures are probably the most important consideration. Each business entity is subject to different tax rates, tax liabilities and tax reporting procedures, making entity selection the one of the most important elements of effective tax planning. Because the tax code for business is not only complex but constantly changing, the entity selection process may require the help of a competent tax professional. … Click to Read More