Tax & Bookkeeping Hacks for Entrepreneurs
Yep, you can write that off! We’re here to help you maximize your profits, minimize your tax liability, and tap into the right tax deductions for your small business.
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The Tax Cuts and Job Act, which was signed into law back in December 2017, has many incentives for small business owners. One of the big advantages includes increased depreciation benefits. Keep reading to learn about the 3 key depreciation perks you need to know about. 1. Bonus Depreciation Tax reform increased bonus depreciation from […]
New tax-related scams come to light every year… and unfortunately, this year is no different. So far in 2022, the IRS has identified thousands of fraudulent domains tied to text scams, known as smishing. Smishing campaigns target mobile phone users, and the scam texts often look like they’re coming from the IRS, with fake messages […]
Did you know that approximately 93% of small business owners overpaid on their taxes over the past 12 years, based on a survey conducted for Forbes a few years ago? 93%!! Being a small business owner, freelancer, or independent contractor is hard enough – but it’s even harder and more expensive when you’re paying more […]
Historically many people have claimed the child tax credit to help offset the rising cost of raising children (did you know that on average, kids cost approximately $300,000 from birth to age 17?!). There have been a lot of changes to the child tax credit over the past few years; it first changed during Tax […]
The average individual will normally experience borrowing on some type of credit at some point. And that’s okay! It might sound strange, but not all debt is “bad.” Certain types of debt can actually provide opportunities to improve your financial future. Good debt should ideally be in low amounts, low cost, help you achieve your […]
Does the thought of all things accounting and taxes as an entrepreneur completely freak you out? Don’t worry, I’ve got you. Let’s walk through the 8 things you need to do throughout the year as a business owner to make sure you are in tip-top shape come tax season. Follow this list and I promise […]
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