Start-ups succeed – or fail – based on their cash flow. If your start-up spends all its initial capital and can’t pay the bills or make payroll, then it’s going to be bankrupt This is why getting bookkeeping right is so crucial. It might not seem like a very exciting area of your business –… Read More
Tax reform represents the largest change to the tax code in 30 years, and impacts virtually everybody — including business owners both small and large, who are still working to untangle the qualified business income deduction. The new deduction is one of the biggest complexities in the Tax Cuts and Jobs Act and as tax… Read More
The filing deadline is April 15, but it’s not too late for some savvy strategic moves With the April 15 deadline for filing your 2018 Form 1040 only a few days away, it’s still not too late to make some moves that will save taxes on last year’s individual federal income tax return. And maybe… Read More
If you’re wondering whether you can claim house office expenses or whether to deduct a capital loss under the new law, you won’t want to miss a single letter. V is for VITA. The Volunteer Income Tax Assistance (VITA) program offers free in-person help for eligible taxpayers. VITA is offered at nearly 12,000 preparation sites… Read More
The individual tax deadline of April 15 is fast approaching. Do you have all your tax arrangements in order? Here are five important questions that people are asking. What happens if I don’t file on time?There’s no penalty for filing a late tax return after the deadline if you are set to receive a… Read More
Knowing the tricks makes you a better decision-maker There are many reasons for you to lease a car versus buy a car, but too often it is the auto dealer’s profit motive that determines which method you use rather than what’s best for your budget and lifestyle. To help you make an informed decision, here… Read More
Even the best, well-prepared business plans can unravel quickly without a process in place to evaluate performance. Creating a scorecard with quality metrics can give you the daily insight you need to successfully run a business without drowning in the details. Create a scorecard that works An effective scorecard gives you a holistic view of… Read More
Think taxes are simple and filled with common sense? Think again! Enjoy this fun quiz to see how well you know the crazy world of state taxes. Q: If you have a hankering for an apple or banana at work, you’ll pay an extra tax to buy fruit from a vending machine in which state?… Read More
Even the experts are having trouble navigating the effects of the tax reform. Find out how small-business owners can keep their bearings. The first tax season where taxpayers will experience the full effect of the Tax Cuts and Jobs Act is here, and soon the economic results will be scrutinized. Business owners were a central demographic component… Read More
The IRS announced on Friday that it is amending Notice 2019-11 to lower the amount of tax that an individual must have paid in 2018 to avoid the underpayment of estimated income tax penalty to 80% (Notice 2019-25). The change was made after concerns were raised that the earlier relief, which lowered the underpayment penalty… Read More