Taxes

How You Can Avoid a Tax Audit for Your Small Business

It is the stuff of nightmares. An official looking envelope arrives in your mailbox announcing that your small business is going to be audited. Then an austere-looking man wearing a dark suit and holding a briefcase shows up at your office asking to see all your receipts, wanting to look around and asking all kinds of questions. The good news is the IRS audits only a small … [Read more...]

Fiscal Year or Calendar Year? What is Right for Your Small Business?

Business name. Location. Equipment. Logo. Hiring choices. When you launch a small business, you are inundated with decisions and choices to make. One of them you may need to know more about is choosing the tax year for your business. The Internal Revenue Service requires you to operate your business according to a consistent accounting period. You must report your taxable … [Read more...]

Going the Extra Mile: Putting Your Vehicle in the Company Name

There is no doubt about it that when you seek out small business ownership, you are looking for a certain way of life and the perks that come with it. Obviously you will need to work hard to get there, but one of the top reasons for going into business for yourself is all of the tax breaks and advantages that are available to a business, compared to what you can get as an … [Read more...]