How Taxes Have Changed in 2014 & How it Affects Your Small Business

by / ⠀Entrepreneurship Startup Advice / March 1, 2014

The 2013 tax year saw several important changes go into effect, and small business owners need to take note. Whether you are an entrepreneur, own a small startup, or run an unconventional business, the tax changes will likely affect you and your company in some way. What’s New for 2013? Easier Home Office Deduction If you operate your small business from your home, or use your home as…

4 Essential Steps for Preparing Your Small Business Taxes

by / ⠀Entrepreneurship Startup Advice / February 21, 2014

For most small business owners, tax time isn’t a lot of fun. But while taxes may not be exciting, they don’t have to be drudgery, either. Doing your taxes properly is essential to prevent incurring extra penalties and fines. Here are four keys to helping your small business’s tax season go smoothly: Review Any Recent Tax Changes For example, part of the arrangement that was made in Congress…

Know Your Laws: Top 4 Legal Problems Your Business Could Face

by / ⠀Startup Advice / April 28, 2013

The business world can be a tricky place when it comes to understanding and following business law. Many business owners think mostly about competition, product, and marketing when starting their business, but most neglect to consider legal problems their businesses could face. Here are the top four legal problems your business could face. 1. Taxes Or Financial Reporting One of the most common problems that businesses will encounter…

Form 1099-K: The Changes You Need To Know

by / ⠀Startup Advice / February 14, 2013

When it’s time to do your taxes for your business, the last thing you want is a big surprise. The tax season is stressful enough without something else coming in at the last minute and messing all your numbers up! Unfortunately, you may indeed be in for a surprise this February when you get the 1099-K tax form in your mailbox. If your taxes weren’t confusing before, now…

Small Business Owners: Are You Minimizing Your Audit Risk?

by / ⠀Startup Advice / January 17, 2012

Starting a new business is very exciting, but also quite an intimidating undertaking. There is a seemingly endless list of factors that need to be considered including, location, employees, quality control, just to name a few. And yet there is another concern that is often overlooked – audit risk. The fact is that business owners are far more likely to get targeted for an audit than employees of…

Paying the Tax Man: Deductions for Entrepreneurs & Small Businesses

by / ⠀Startup Advice / April 13, 2011

It’s that time of year again: tax time.  As an entrepreneur, it goes without saying that one doesn’t necessarily feel very charitable on April 15th (well, technically, it’s April 18th this year.)  Paying taxes is a part of life, though.  And if you do the proper due diligence, you could lessen your tax liability. Below is a list of some deductions for entrepreneurs and small businesses you should…

Get Ahead of the Game: Prepare For Year End Now

by / ⠀Startup Advice / September 26, 2010

The end of the year is quickly approaching and now is the time for conducting some simple tax planning and evaluation of your small business finances.   You may be thinking to yourself that dealing with your business’s numbers is the last thing you want to be doing.  Or you may feel that it’s a daunting task.  But, it doesn’t have to be.  Here are a few things to…

Is Your State About to Put You Out of Business?

by / ⠀Startup Advice / April 2, 2010

Your biggest tax issue for 2010 and beyond could very well be something you’ve never even heard about: nexus. But the tax risk isn’t from the increased IRS audit force, or the hundreds of federal tax law changes that happen every year. The tax issue is with your state. Or the state next door. Or a state you’ve never even visited. If you have a business, you are…

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