Many business owners consider their bookkeeping and tax preparation to be separate issues that require separate professionals to complete. While it’s true that there are financial professional who specialize in each of these areas individually, it’s often better to...
What is common to every business when starting up? A plan. All businesses start out with one. Where to place the office, what equipment to buy, sales/service strategy, and of course– a budget plan. Your business budget is: The state of your current finances...
The average retirement age is steadily increasing, and it’s not just a personal decision anymore. Congress has also raised the “normal” retirement age for the Social Security program. This shift in retirement age has significant implications for...
For independent contractors, tax deductions represent a major way to save on your taxes. Due to self-employment taxes, your tax bill can often come as quite a sticker shock, but ensuring you utilize the right deductions for your business, you can reduce that tax...
Digital payment platforms have become a common substitute for cash transactions. Now, when you owe your roommate money for rent and or need to repay your friend for lunch, a simple Venmo or PayPal transaction can settle the debt instantly. But as these platforms have...
Everything seems to have slowed down these days, thanks to labor shortages and supply chain issues, and the IRS is no exception to this. The IRS has been working with roughly the same number of employees since the 1970s, despite the number of taxpayers increasing...
