The clock is ticking on taking advantage of tax breaks for 2016. From managing capital gains to charitable giving, financial advisors point to a range of tax strategies that can help reduce the amount you fork over to Uncle Sam. But don't make the mistake of waiting to act until next spring, when the April [...]
The Internal Revenue Service today issued the 2017 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2017, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 53.5 cents per [...]
Paying taxes isn't necessarily top of mind as the holidays approach, but more than likely, paying for gifts is. So is there enough time to make smart tax moves that could save you money as 2016 ends, and tax filing season approaches? "Plenty of time. With three weeks left to go, you have several options [...]
The end of the year can get a little crazy. People are planning for holiday travel, scrambling to meet deadlines, and trying to get ahead for the upcoming year. As a small business owner, there are likely even more items to cross off on your to-do list before ringing in the new year. It’s easy [...]
You’d be hard pressed to find a profitable business owner who doesn’t set a budget for their business. It’s a vital part of creating a roadmap for success and an easy way to stay on track financially throughout the year. Learning how to set a budget for your small business early on can align financial [...]
The Internal Revenue Service, states and the tax industry remind you that online threats and annoyances abound. There are viruses, worms, Trojans, bots, spyware and adware – all fall under the malicious programs (malware) umbrella. How do you protect your computer from hackers and identity thieves? You need security software and to keep it turned [...]
Bookkeepers are not known in our industry to be professionals; however, per the definition, an office worker is a professional. Looking at the key ingredients of what makes a professional, I decided to perform a comparison to give a bit of perspective on the trends of professionalism in the bookkeeping industry. First, look and see where [...]
Before you look to investors for funding, consider the benefits of debt to grow to your business. If your business needs an infusion of cash to grow, it may be tempting to take on new investors or ask for additional funding from your current backers. But doing so dilutes the equity you’ve built, which means [...]
Replacing paper paychecks with payroll cards can take the cost and hassle out of your payroll process, and make it easier for employees too! Spending too much of your time and money on the payroll process? Small business owners in search of a wage payment method that reduces payroll costs and increases efficiency may want [...]
If you run a small business, now is the time to shore up your finances and take advantage of available deductions to cut your tax bill. Bear in mind, you're wrapping up this year's books. Advisors say it's too early to see how the Trump administration will shape the tax regime in 2017. "For 2016, [...]
