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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Are you considering purchasing an electric vehicle for your business or personal use? You may be eligible for a substantial federal tax credit! Recently, the Internal Revenue Service (IRS) announced a change to its standard it will use to determine the classification of a vehicle for the Clean Vehicle Tax Credit, also known as Section […]
Chances are, maximizing your tax savings is top of mind this time of year—especially if you have multiple income streams. When dealing with income from various sources—a job, a business, investments, and more—tax time can get complicated. Fortunately, there are plenty of ways to maximize your tax savings. So read on to discover five tried-and-true […]
The Earned Income Tax Credit (EITC) is one of the most significant tax credits available to taxpayers. However, it is also one of the most complicated tax credits. With January 26th marking national EITC Awareness Day, it’s a great time to remind the many workers who may be missing out on this valuable tax credit. […]
With another quarterly estimated tax payment right around the corner (remember, these federal payments are due April 15th, June 15th, September 15th, and January 15th) you may be wondering what all this talk about estimated taxes is even about. Do you have to pay them? What are they? How do you pay them? Let’s dive […]
As a business owner you wear A LOT of hats. Operations, marketing, business development, and the list goes on. With all that hard work, I’m sure one of your goals is to earn a healthy profit. Which is awesome!! There’s just one small problem… when you earn a profit, you also earn the fun requirement […]
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 […]
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 […]
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