Even though a business may be small, it’s still important to keep track of its finances in a meaningful way in order to ensure its continued success. Every business owner wants to be sure he or she is using the resources of the business in......
A CPA firm is an accounting firm with at least one Certified public accountant (and perhaps more) who are licensed in their state. The benefits of hiring a CPA firm is that they are highly-qualified and knowledgeable on accounting practices. They can help you to......
Like a slowly gathering storm, inflation has gone from dark clouds on the horizon to a noticeable downpour on both the U.S. and global economies. Is it time for business owners to panic? Not at all. As of this writing, a full-blown recession is possible......
It’s not just businesses that can deduct vehicle-related expenses on their tax returns. Individuals also can deduct them in certain circumstances. Unfortunately, under current law, you may not be able to deduct as much as you could years ago. For years prior to 2018,......
If you donate valuable items to charity, you may be required to get an appraisal. The IRS requires donors and charitable organizations to supply certain information to prove their right to deduct charitable contributions. If you donate an item of property (or a group......
Filing your business income taxes each year is an occasion you may not always look forward to, but nevertheless, it must be done. If you are finding it too difficult and confusing or if you have doubts about whether or not you’re using all the......
Many people wonder how they can save taxes by transferring assets into their children’s names. This tax strategy is called income shifting. It seeks to take income out of your higher tax bracket and place it in the lower tax brackets of your children.......
The environment of modern business has changed drastically over the past few decades due to rapid advancement of technology, demographic changes, and developing trends. Keeping up can be difficult and sometimes the old rules for success no longer apply. However, as they say, “those who......
Some people who begin claiming Social Security benefits are surprised to find out they’re taxed by the federal government on the amounts they receive. If you’re wondering whether you’ll be taxed on your Social Security benefits, the answer is: It depends. The taxation of Social......
If you own a business and want to focus on pursuing goals for future growth, hiring a bookkeeper can save you time and give you a more accurate picture of your company’s financial status. But when you’re getting ready to hire, you need to ask......
Wellness programs have found a place in many companies’ health care benefits packages, but it hasn’t been easy. Because these programs take many different shapes and sizes, they can be challenging to design, implement and maintain. There’s also the not-so-small matter of compliance: The......
When you filed your federal tax return this year, were you surprised to find you owed money? You might want to change your withholding so that this doesn’t happen again next year. You might even want to adjust your withholding if you got a......