If you drive trucks, sell trucks, or run any trucking-related business, you need to be familiar with all the taxes and fees associated with trucks. For truckers just starting, you may need to budget for these tax responsibilities ahead of time. Truck drivers who drive big rigs on the highway must pay the Heavy Highway Vehicle […]
All small businesses, regardless of industry, require good management and accounting. Your company is a complex system. To run the business well, you need a cool head and the ability to juggle many moving pieces. The real estate business is certainly no exception. From working with clients to acquiring and managing properties, there are a […]
How Do Small Businesses Prepare Taxes? Wondering how to prepare business taxes? The tax preparation process is generally the same for each small business type. You’ll need to determine which forms from the IRS you’ll need to file, be aware of the deadlines for your business type, gather your business expenses and income, and send […]
1-800Accountant has recently partnered with New York City’s Small Business Services (SBS) team. The partnership between the virtual accounting firm and the SBS team will provide SBS clients with a free tax clinic along with 30-minute virtual consultations. SBS clients interested in utilizing the services of 1-800Accountant will speak with one of our expert tax […]
With high gas prices and new car offers every year, there’s never been a better time to explore electric vehicles. The newly updated EV tax credit provides an added incentive, making it more affordable than ever to make the switch. A federal electric vehicle tax credit is not a totally new innovation, but it has […]
What is an LLC? Is an LLC a business entity? A Limited Liability Company can be a great way to grow a small business. It offers limited liability, something that can be helpful to its members. While this type of business organization can offer a lot of benefits, like limited liability protection, there are some […]
Unless you’re a licensed CPA or have a deep understanding of tax laws and practices, it’s a good idea to hire a professional during tax season. An accountant for self-employment ensures your taxes are filed properly. They will also advise you on tax deductions and other tax benefits for which you are eligible. As a […]
If you own and manage a rental property, you’re well familiar with all the expenses of maintaining a property. Regular maintenance and unexpected repairs add up quickly; it can be challenging to know how to claim these expenses when tax season comes around. Use this blog as a helpful guide for learning more about the […]
Every year the IRS releases a list of “Dirty Dozen” tax scams for taxpayers to avoid. The list brings awareness to taxpayers, tax professionals, and financial institutions about new developments in the world of tax administration. These tax scams can occur at any time in the year; however, the IRS notices a surge during filing […]
The difference between tax credits and tax deductions is something that can often be misunderstood. Their purposes have a similar end result, and both can play a significant role when you file taxes (namely, to save you money as a taxpayer), which makes knowing their differences crucial. Here are the fundamental differences between tax credits […]
