by | Nov 14, 2017 | Accounting & Bookkeeping, Income Taxes, Personal financial planning
Every year a large percentage of people get tax returns. Some get a lot and some just get a little, but what you choose to do with your return may have a big impact over time. Different individuals have different plans for the return, including going on a shopping...
by | Nov 13, 2017 | Accounting & Bookkeeping, Books, Income Taxes, Small Business Owners
If you have a home business or a home office, it can be difficult to know just what you can claim as a business expense and what you can’t. There are some common expenses that self-employed people working from home often miss claiming because they aren’t aware of the...
by | Nov 1, 2017 | Accounting & Bookkeeping, Books, Cost Cutting, Small Business Owners, Tax Tip of The Week
The fair market value of property or services received in barter is taxable. But, it may not result in an increase in taxable income based on how what you received is used. As an example, we trade accounting and tax services with an office supply company. We must...
by | Oct 16, 2017 | Accounting & Bookkeeping, Other, Small Business Owners, Tax Tip of The Week
Have you heard about the latest crazy tax deductions? How about the cholesterol deduction? The Willie Nelson write-off? The time machine? Or the stripper who bared her assets? These tax tales are part of the fifth installment of Bankrate’s 10 craziest tax deductions....
by | Oct 12, 2017 | Accounting & Bookkeeping, Cost Cutting, Income Taxes, Small Business Owners, Surviving an IRS Audit Series, Tax Tip of The Week
Taxpayers must be prepared to substantiate auto deductions with adequate records or sufficient evidence. Failure to do so will cost you thousands of dollars in increased taxes and/or fees to accountants or tax lawyers if you are audited. Taxpayers should be able to...
by | Oct 11, 2017 | Accounting & Bookkeeping, Cash Flow, Cost Cutting, Sales & Marketing, Small Business Owners
I have a hard time stressing the importance of budgeting money each month on marketing. A lot of business owners see it as a wasted expense. It’s really not! I like to use this analogy when it comes to spending money on marketing. It’s like buying a $20 gift...
