Scaling your small business is an exciting time. But it’s not just about generating more income–it’s also about creating a sustainable strategy for growth over time. Growing your business in this way requires a well-planned and detailed approach, especially when…
If you’re a sole proprietor, you may have considered making your business a single-member LLC. A single-member LLC provides the protection of an LLC entity but with the tax benefits of operating as a sole proprietor, which is appealing to…
Understanding tax write-offs is essential when maximizing tax savings for your single-member LLC. Dealing with taxes as a business owner can be intimidating, but when you have the correct information and plan appropriately, you can considerably lessen your taxable income….
Filing taxes for the first time as a small business owner can feel overwhelming. But the good news is that you don’t need to figure everything out on your own. Partnering with a small business accountant can be an incredibly…
Preparing taxes is an essential part of running a small business, and enlisting the help of a knowledgeable tax consultant can help ensure that all deductions are taken advantage of while staying compliant with regulations. To ensure you are taking…
Although small business owners have a lot on their plate, tax planning should be a priority. Creating a financial plan to maximize your income and reduce your tax burden can help you profit more from your business. The best way…
Tax deductions are important when you’re self-employed because they can help lower your taxable income. Since you don’t have an employer paying some of your taxes (namely the self-employment tax), any tax breaks you qualify for can help reduce the…
Taxes can seem complicated and overwhelming, especially for new small business owners. It’s possible that your concerns about how much taxes to pay will overshadow the search for any tax benefits you may be eligible for, and that’s something that…
The way your small business is structured determines how much you will owe in income tax. The location of your small business also affects how much income tax you’ll pay, and to whom. The majority of small businesses do not…
Not all small businesses are created equally. The way your business entity is structured makes a difference in the way it will be taxed, and the rate you will pay. Recognizing the major differences between these structures and tax classifications…