Accounting, Bookkeeping & Tax Blog

Your small business resource for accounting, bookkeeping, and taxes from our experts.
schedule-c

Tax Form Schedule C

Schedule C determines whether your business income is a profit or a loss. Completing a Schedule C will require a lot of documentation, and it comprises several parts. You may learn that if you complete a Schedule C, it may also involve other tax forms. Here is what you should know about Schedule C (Form […]

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Funding Unemployment Benefits through Standard FUTA Taxes

First enacted in 1939 in the aftermath of the Great Depression, the Federal Unemployment Tax Act (FUTA) was established to support involuntarily unemployed individuals. Imposing an unemployment tax on employers, this federal law supports states that need additional money to pay out benefits to their residents. FUTA taxes are not withheld from employee wages but […]

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Year-End Tax Strategies for Individuals

Here are a few tax tips you might consider before the end of the year, which could potentially reduce your taxes when Uncle Sam comes knocking in April. Generally, you want to lower income and accelerate deductions now if you expect next year’s tax situation to be similar to this year’s. Not all of these […]

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Year-End Tax Strategies for Small Businesses

If you’re a small business owner, you may want to review your business tax situation well before December 31 to determine what strategies you can implement to minimize your tax liability this year. The general strategy of reducing income and accelerating deductions now is appropriate if you expect next year’s tax situation to be similar […]

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Top 6 Tax Tips and Deductions For Food Truck Owners

Do you serve up hot subs, fresh salads, and sweet treats around town in your decked-out food truck? If so, you’re part of the rapidly growing mobile cuisine industry. While it can be quite rewarding to prepare delectable edibles for hungry consumers looking for a quick bite to grab, there are several IRS tax rules […]

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Taxing Question: Can You Deduct PCs, Tablets, & Smartphones?

There are several electronic devices like computers, tablets, and smartphones you can deduct as a small business owner. Look around your house, your office, your school, or even the grocery store. There is a high probability you will see someone using a computer, a tablet, or a smartphone – maybe even all three at once […]