Preparing for Tax Time All Year Long

Depreciation: What Is It, And How Can It Reduce Your Small Business Tax Bill?

If you’re starting your own small business, you probably have to purchase at least one large and expensive piece of equipment or property. Such business purchases can create some confusion among new business owners who must figure out how to fit these items into their Schedule C for income tax purposes. To help you get […]

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Properly Deducting Donations: Four Tips For Adding Donations To Your Taxes

Donations are an excellent way to both reduce your overall tax burden while doing a little good in the world. But just because you’ve donated money throughout the year doesn’t mean that it was all deductible — or that you’ve covered all your bases. Here’s some information you should know about adding donations to your […]

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Avoiding The Major Mistakes In Small Business Budget Analysis

Every small business owner needs to periodically run a budget analysis to determine how much money they will need to continue operations and where they can cut back. But a budget analysis can be very complex; it governs all the expenses and income of a business. Here are some of the most common problems company […]

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Four Issues That Can Overdraw a Small-Business Bank Account

There are few problems as terrifying for a small business owner as zeroing out their bank account. Many businesses operate solely on cash; without it, they aren’t able to purchase their products or continue paying their staff. Because of this, business owners need to pay attention to the issues that are most likely to potentially […]

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3 Reasons A Small Business Owner Should Hire An Accountant

Running a small business is a lot of work. It is no secret that you will spend a lot of time not only working on your product and services, but you will also have to manage the business. One thing that can take a good deal of time is bookkeeping and the accounting aspect. This […]

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Preparing For An Upcoming Business Audit

A business audit can elicit a sense of panic if your records aren’t already perfectly in order. Here are some things you can to do get your documents ready for an auditor.  Hire a Helper For starters, it can help to have a bookkeeping or accounting firm on your side when it comes time for […]

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First-Time Filer? 4 Common Mistakes To Avoid When Doing Your Taxes

Preparing to file your first tax return on your own can be a daunting idea. But even though you may have heard horror stories about taxes, the truth is that you’re unlikely to have such difficulty and are more likely to realize that it’s truly not that bad. The key is to avoid making a […]

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Getting Your Certified Public Accountant License: What You Need To Know

If you want to have a great career in the accounting profession, then it’s a good idea to get your certified public accountant’s license. A licensed CPA has a crucial credential that shows he or she is well-qualified to take on a wide range of accounting tasks. Here is a closer look at getting your CPA License. […]

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Senior Tax Guide: How To Deduct Your Medical Expenses

For many seniors, medical expenses make up a lot of the money that they spend every year. If you spend most of your money on medical expenses, and you are a senior, make sure that you are deducting all qualifying medical expenses on your taxes.  Federal Tax Definition If you are over 65 years old, […]

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Small Business Mistakes An Accountant Can Help You Avoid

Naturally, you want to save money on anything you can when running a small business, but accounting should not be something you scrimp on. Calling on accountants can be the best move you can make to avoid the common pitfalls many small business owners face. Time vs. Cost As the business owner, your time is […]

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