Do you own a boat or recreation vehicle? Are you thinking about buying one? As long as the vehicle has sleeping space, a bathroom, and cooking facilities, you may be able to claim it as a second home and deduct the interest payments on your loan. For any questions...
Last week Peter Witts, CPA PC’s Government Consultant Mike Gitlen attended the Navy Gold Coast/NDIA Small Business Procurement Event at the San Diego Convention Center in San Diego, Ca. The event brought in over 1500 attendees that ranged from small business owners...
The figures on an income statement report the sales, expenses, and net profit or loss of a business. But these figures can be helpful in another way. They can be used to compute the breakeven point for the business. Knowing your breakeven point can help you run your...
There is no income tax withholding on self-employment income, but that doesn’t mean you’re not required to pay taxes during the year. Self-employed individuals generally must make quarterly estimated tax payments due April 15, June 15, September 15, and January 15 of...
