Apr 12 2010

Tax day is almost here, what if you aren’t ready?

Taxes are due this Thursday, April 15th.  If you have already files and spent your refund, congratulations.  Normally I have already filed by this time, however, this year has been crazy so I am in the latter group.  With tax day fast approaching, I am going crazy trying to get my taxes and business info [...]

Jan 5 2010

Where are your records?

Tax time is rolling around again so what can you do now to ensure a less painful tax preparation this year?  The easiest thing to do is keep a record of your transactions.  Sounds easy but we all forget to save those receipts or print out those statements. What records and receipts should you be [...]

Dec 9 2009

Financial Fortunes

Understanding finances and how to keep track of your finances can make or break your business.  Keeping track of your finances is especially important for small cash based businesses.  It is very easy to forget or lose track of what you make, the taxes you need to pay on your sales, and what was sold [...]

Oct 7 2009

Special Tax Treatment for Family Employees

Wages of children under 18 years of age who are employed in the family business are not subject to social security or Medicare taxes.  However, this holds true only if the family business is a sole proprietorship or a partnership in which both partners are parents of the children. If the children are under 21 [...]

Sep 23 2009

Tax Deduction for Business Start-up Expenses

When starting a new business, there are plenty of expenses.  You have to file a fictitious name with your state.  If the business is going to be a partnership, corporation, s corporation or LLC, you need to file with the state and pay for someone to create articles outlining how ownership is divided, what rights [...]

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