- Avoid These 4 Common Small Business Accounting Mistakes
- When you decided to open for business, you had a vision for the future. You identified a need and came up with a solution you could provide and sell, and you invested your time, your money, your knowledge, and your drive to make it into a reality. The only problem in this scenario, if you're like a lot of small business owners, is that you did not anticipate having to handle your business's accounting needs. Many highly intelligent, responsible business operators get caught making common small-business accounting mistakes that can trip them up and cost them in the long run. If you are afraid this might happen to you — or if it already has — the best way to avoid these costly errors is to learn the top four small-business accounting mistakes and how to prevent them.
- Are You In Compliance With Your Multi-State Income Tax Filings?
- We all know that we must file individual and business entity federal tax returns when specified income thresholds are met, and we will also need to file a return for our resident state if it has an individual or business entity income tax filing requirement.
- New Business? First-Year Deduction Strategies
- If you are planning a new business start-up and are incurring some expenses, you probably anticipate deducting those expenses in the first year of the business's operation. Unfortunately it is a little more complicated than that. Expenses a business incurs in the beginning can include equipment purchases, vehicle purchases and use, leasehold improvements, organizational costs and start-up expenses, and each receives a different tax treatment.
- Grandchild IRA Gift Idea
- If you have a young grandchild, we have a gift suggestion for you that can provide a lasting legacy between you and your grandchild.
- Back to School? Tax Breaks May Help to Pay the Cost!
- Now that summer is over, it is time for many young adults to head back to college or university, and it is time for their parents or family members to dig into their pockets to help pay for that schooling.
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