Use Tax: The Hidden Expense
I’m sure that everyone is familiar with sales tax: the tax that businesses charge when you buy their products. A... Continue reading →
Business Use of Vehicles: The Ownership Dilemma
If you operate your own business and you use a vehicle for business purposes, you are entitled to a tax... Continue reading →
Employee or Independent Contractor: Know the Difference and How to Avoid Misclassification
You’re in business for yourself and you need people to work for you. But you might not need them full... Continue reading →
To Capitalize or Not To Capitalize
According to the IRS, business expenses are the costs of carrying on a trade or business. And business expenses are... Continue reading →
12 More Important Accounting Terms Explained
My previous post focused on twelve general accounting terms (if you haven’t read it yet, I highly recommend it). The... Continue reading →12 Important Accounting Terms Explained
I think it’s important for all small business owners to know something about accounting so that they can better... Continue reading →How to Maintain Your Entity’s Legal Standing and Protect Your Assets
As a new business owner, you know that protecting your personal assets is one of the main reasons for forming a... Continue reading →Accounting Rules vs. Tax Rules: Tax Deductibility of Travel Expenses
There are generally accepted accounting principles that are used for bookkeeping purposes and there are tax laws that are used... Continue reading →