Small business owners typically outsource many services that would otherwise be done in-house at larger companies, such as marketing, advertising, and accounting. But how can you ensure you’re choosing the right professional to listen to your needs and provide trustworthy expertise? Some services are lower risk. After all, if you choose the wrong cleaning company […]
Tax season can be a stressful time of year, especially for business owners with competing priorities and low bandwidth. You’re expected to dig through last year’s financials, complete extra paperwork, make tax payments, and remember due dates. Fortunately, a business tax extension can grant you some relief. If you file a tax extension, you’ll have […]
Payroll is most likely one of the largest expenses you’re responsible for as a business owner. It’s also one of the most important, as you’re the person responsible for ensuring that an employee and their family receive their salary or wages on time so they can pay their expenses. Because payroll is so important to […]
What are capital gains on a rental property? Capital gains on a rental property are the profits made from selling real estate assets. When these transactions are not profitable, they’re referred to as capital losses. Special rules apply in regard to the basis for your gain or loss when an asset is received as a […]
Managing taxes can be one of the most challenging aspects of running a business due to federal tax law complexities. It’s easy for business owners to make a simple mistake, like not correctly calculating quarterly estimated taxes, which can lead to a potential audit. Most individuals are familiar with the tax payment process for employees, […]
While some industries have struggled to attract and retain talent, the high-demand delivery driver profession has defied that trend. Some drivers prefer the flexibility and additional cash a part-time gig provides. In contrast, others have made it a full-time career working independently or for big corporations like UPS and Amazon. For many, the delivery and […]
Summer is just around the corner, which means Q2 quarterly taxes are due for many small businesses. While some businesses use a service to calculate and submit what’s owed, many owners will roll the dice and do it themselves, which makes them vulnerable to penalties and increased IRS scrutiny. Use this blog as your guide […]
Property management can be a lucrative industry for landlords. It is a fast-paced industry with many moving parts, such as interviewing potential tenants, managing current tenants, and maintaining property quality. Income tax and deductions for rental properties may not be top of mind, but there are certain things about rental income and taxes every landlord […]
Rental properties offer a convenient way to increase assets. However, capital gains tax may play a significant role in rental property landlords’ investments. The exact amount you may owe in capital gains tax can vary based on a number of factors. In this article, we will discuss strategies you can use to help avoid paying […]
Special tax deductions are available to proprietors of e-commerce businesses. Take advantage of the following e-commerce tax deductions to maximize your tax savings. Tax season is quickly approaching, so now is the time to get your records in order! What is a tax deduction for e-commerce businesses? Tax deductions for online businesses are similar to […]
