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preparing for tax time all year long


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preparing for tax time all year long

Having a certified personal accountant working with you to prepare for your taxes throughout the year will help you in so many ways. Do you wait until the beginning of the year to get your documents in order to file your taxes? Did you realize that doing so could end up costing you money when you do file your taxes. This blog will show you some of the things that you could be missing if you aren't paying attention to your taxes until it is time to file. Maybe after reading, you will make changes to the way you go about preparing for tax time.

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Top Reasons To Start The Planning Of Your Estate

Whether you have a little to leave behind or a lot, you will want to make sure that you are taking the time to learn about how to go about estate planning so that everything is taken care of for when you pass away. All of the legalities will be tended to, which means there will not be any room for the family to fight over various aspects of your estate. Read More 

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 a better grip on your business finances, here's a quick guide to the ins and outs of depreciating assets. Read More 

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 tax return. 1. Make Sure the Charity Was a 501(3)c Charity You can't just give to any good initiative and hope to deduct it from your taxes. Read More 

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 owners run into. Remember to Use a Large Enough Sample Size You can't base a budget analysis on the expenses that you had in the lats month or even three months. Read More 

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 overdraw their account. 1. Checks That Weren't Properly Recorded When a business owner writes a check, they can easily forget to mark it down in their ledger. Read More