- 5 Accounting Tips That Will Make Managing Your Small Business a Breeze
- If you are the owner of a small business, you are endlessly busy. Between keeping track of the day-to-day requirements and monitoring growth and profit, it's easy to get overwhelmed and that means you might neglect important recordkeeping that will help you in the long term. Here are five helpful hints that will make accounting easier and make sure that you don't miss any milestones or deadlines.
- Using the Home Sale Gain Exclusion for More than Just Your Home
- With careful planning, and provided the rules are followed, the tax code allows the home sale gain exclusion every two years.
- Home Mortgage Interest and Unmarried Couples
- It is becoming increasingly common for couples to live together and remain unmarried, which can lead to potential tax problems when they share the expenses of a home but only one of them is liable for the debt on that home.
- Safe-Harbor Home Office Deduction Is It Better For You?
- Taxpayers can elect to take a simplified deduction for the business use of the taxpayer's home. The deduction is $5 per square foot, with a maximum square footage of 300. Thus, the maximum deduction is $1,500 per year. Here are the details of this simplified method:
- Tips for Taxpayers Starting a New Business
- Anyone starting a new business should be aware of his or her federal tax responsibilities. Here are several things you should know if you plan on opening a new business this year.
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