You’re going to start a non-profit. You have a goal and decide that a non-profit business gives you the platform to reach that goal. You’re going to build an organization that will improve the world, whether on a local neighborhood scale or even a national or international level. The big question now is, what kind […]
You’re an entrepreneur starting your own business and want to do everything possible to set your company up for success. You need to decide how best to structure your business and how you will handle your tax liability as a business owner. There’s a lot of information, but it’s hard to figure out how it […]
Truck drivers work diligently all year round, but their efforts become particularly evident during tax season. As tax season approaches, truck drivers may be able to reduce their tax bill by claiming certain deductions. However, it’s important to note that there are some limitations and exceptions to these deductions for truck drivers. We’ll discuss everything […]
There’s a lot to keep track of when you’re starting your small business. One of the most important is tracking your expenses so that you can write off business tax deductions when it’s time to file. Did you know that each mile you drive for business purposes can be deducted? You can claim deductions for […]
It takes hard work and dedication to make it as a self-employed trucker. 1099 truck drivers aren’t just driving a truck — they’re running their own business at the time! Truckers have to juggle many tasks, including driving, truck maintenance, job searching, and highway safety to name a few. Despite the challenges, they value their […]
Establishing your small business as a Limited Liability Company, or LLC, offers many benefits, from increased credibility to personal asset protection. LLCs provide owners or members limited personal liability if the company experiences legal trouble. Members can include corporations, foreign entities, individuals, and other LLCs, with membership ranging from a single owner to unlimited owners. […]
Bookkeeping is something that all businesses will benefit from starting. When it comes to how you do your bookkeeping, you may not know that you have options. Virtual bookkeeping is a bookkeeping option that may be right for your business, and it has advantages and differences. Learn more about how to hire the best bookkeeping […]
Many people aspire to be their own boss. Setting their hours and making their own business decisions is liberation for some. You’re no longer a tiny cog in the wheel! But it also comes with increased pressure and responsibilities, taxes included. Now that you’re self-employed, you’ll have to pay your taxes directly to the IRS […]
Reporting taxable income to the Internal Revenue Service (IRS) isn’t always a straightforward process. There are over 800 tax forms, from individual documents to information returns, which can create confusion and questions. This includes the common question: what is the difference between 1040 and 1099 tax forms? IRS Form 1040 and 1099 are pivotal for […]
Tax deductions are crucial for filing your tax return if you don’t want to pay more than your fair share. Tax deductions work by deducting eligible expenses from your overall taxable income. Less taxable income means owing less in taxes, and it can even mean slipping down a tax bracket. Knowing how much your tax […]
