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Category Archives: Business Tax

Last Minute Tax Deductions for 2017 (and Beyond)

We’re halfway through October, which means we’re just about to start the holiday rush. Soon, it will be Halloween and then Thanksgiving, and then Christmas, and before you know it, the year is over, and it’s time to pay taxes. …
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How to Get a Jump Start on Taxes

Taxes are one of those things people tend to put off for as long as possible. After all, no one really likes doing them. But procrastination has consequences. For example, it increases your anxiety and leaves you more stressed. It …
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A Beginner’s Guide to Paying Independent Contractors

If you have true employees of your company, whether full-time or part-time, you’ll typically pay them through a payroll system. This will account for tax deductions that both you and the employee are responsible for, and it keeps a nice …
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Deducting Advertising Expenses from Your Taxes

If you’re trying to grow your business and reach new customers, you’re probably doing some form of advertisement or promotion. If not, you might want to consider it. Not only will it help your business succeed, but just like with …
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Why Are Taxes So Complicated?

Tax is simple in theory. The government keeps things in check, oversees regulations, and enforces the law. Since they don’t make money directly, a tax is added to the cost of goods, exchange of services, income received, etc. to pay …
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Business Supplies vs. Business Equipment: What’s the Difference?

Starting and running a business usually comes at a cost. Luckily, as a business owner, you’re able to deduct business expenses from your taxes. That means that you don’t pay tax on that money. As a small business, it’s critical …
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Estimated Quarterly Tax Payments

When you start a new job, one of the first things you typically do is fill out your tax information, usually in the form of a W-4. A lot of people don’t really understand what they’re doing while they do …
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Common Payroll Mistakes

Even the best employees aren’t going to stay around long if they’re not getting paid. Having a proper payroll system in place ensures that everyone gets paid on time in the proper amount. That is, unless you’re making payroll mistakes. …
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Tips for Tracking Business Expenses

Nothing sends business owners scrambling like tax season. As you scour for receipts and try to remember every expense, a thought may cross your mind: This would be a lot easier if I did a better job of tracking this …
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Underpaying Your Taxes – Fines, Fees, and Other Fun Things

Recently, we talked about what happens if you don’t pay your taxes. The short version is: you should just pay your taxes and save yourself a lot of trouble. But what happens if you under pay your taxes? Well, it …
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