Write Off Your New Car Used For Business Purposes

Write Off Your New Car Used For Business Purposes Like any areas of tax law, vehicle write offs can unfortunately be a little complex. Here, we'll provide a quick run through to explain when new vehicles qualify for deductions and how much you can expect to expense. Many people will be quit confused with lot [...]

2017-08-05T16:11:02+00:00 May 29, 2016|Deduction & Credits|0 Comments

Significance of Filing an Annual Report

Significance of Filing an Annual Report What is an Annual Report? Most entities are subject to regular reporting requirements to the federal government, state jurisdiction, and/or local jurisdictions in which business is transacted. The definition of an annual report is a required filing due to the Secretary of State, usually a listing of directors, officers [...]

2017-08-05T12:53:11+00:00 May 29, 2016|News and Social|0 Comments

Choosing a Tax Accounting Method

Choosing a Tax Accounting Method Do you know that accounting method actually used on the initial return is an election of that method, so tax payers should carefully analyze financial data to ensure that the method is applied properly. A business must use the same accounting method to figure its taxable income and to keep [...]

2017-08-05T13:07:40+00:00 May 29, 2016|News and Social|0 Comments

Are you Aware That Employing your Child will Reduce your Family Tax Burden?

Are you Aware That Employing your Child will Reduce your Family Tax Burden? Generally, taxpayers who own a business are quite conscious about their taxes. Well, for those it is important to know that employing family members who are in a lower tax bracket than the business owners (Usually children or grandchildren) can shift taxable [...]

2017-08-05T14:52:52+00:00 May 29, 2016|Deduction & Credits|0 Comments

Is Bookkeeping Important to My Business?

Is Bookkeeping Important to my Business? Bookkeeping is comprised of two words "Book" and Keeping" where "Book" means the collection of records and "keeping" is their maintenance. In this sense, Bookkeeping is an activity or process of collections, retention and maintenance of financial records of a business. This activity of maintaining accurate records cannot be [...]

2017-08-05T14:54:17+00:00 May 29, 2016|News and Social|0 Comments

Significance of “Outsourcing – BookKeeping”

Significance of "Outsourcing – BookKeeping" One of the biggest challenges for small to mid-sized companies is efficiently managing and updating financial records. The task often falls on the company's owner who is busy enough trying to run the day to day business functions. If financial record keeping responsibilities doesn't fall to the owner, they are [...]

2017-08-05T14:59:59+00:00 May 29, 2016|News and Social|0 Comments