by | Jan 19, 2010 | Accounting & Bookkeeping, Cost Cutting, Income Taxes
The IRS recently announced that the standard mileage rate for business drivers in 2010 has been reduced to fifty cents per business mile driven. This is a reduction from fifty-five cents per mile for all of 2009. In lieu of deducting your actual expenses, you may...
by | Jan 15, 2010 | Accounting & Bookkeeping, Cash Flow, Current Affairs, Income Taxes, Tax Tip of The Week
Keeping detailed records of employee travel expenses is a hassle. But there's a way your business can simplify matters without any tax downside: Use the IRS-approved "per diem rates. This way, employees don't have to account for every last cup of coffee...
by | Jan 14, 2010 | Cash Flow, Income Taxes, Other, Sales & Marketing, Small Business Owners
Once upon a time there was a struggling business owner that needed that extra something that would leave his competitors in the dust. So he decided to have a huge sale that under cut everyone in the widget industry. He decided that he would put his most popular...
by | Jan 8, 2010 | Current Affairs, Income Taxes, Personal financial planning, Tax Tip of The Week
The "first-time homebuyer credit" isn't just for first-time homebuyers anymore. Thanks to a new tax law change, longtime homeowners may also qualify. Under the new "Worker, Homeownership and Business Assistance Act of 2009," you...
by | Dec 16, 2009 | Accounting & Bookkeeping, Cost Cutting, Income Taxes, Small Business Owners, Tax Tip of The Week
We all wish we could just take somebody’s word and not have to worry if they are telling the truth or not. But, as we all know, the world does not work like that. If it did, the IRS Auditor would not exist. Their job is basically to check and see if you told the truth...
by | Dec 9, 2009 | Income Taxes, Small Business Owners, Tax Tip of The Week
Several Clients have asked us about the tax incentives for energy savings contained in the economic stimulus law (The American Recovery and Reinvestment Act of 2009). The new law changes may benefit for both individual and business taxpayers. Following is a brief...
