Many of the business clients I work with are either side businesses, or side businesses that are turning into "real" businesses. I've written before about the struggle of taking a side business and turning it into something more. Today, I'm going to write about the choices a business owner has with their side business when they [...]
When a taxpayer receives a refund of state income taxes, and the taxpayer took a deduction on their federal tax return, and some of the payments made to the state were estimated payments that may have been made in a different calendar year ... well, it can require some math to determine the taxable refund and the deductible portion of the estimated payment.
A few years ago, towards the end of the year, I got a voicemail from a frustrated business client. The profanity laced message went something like this: “I’m sick of this $hit and want to sell this f___ing business. I can’t take it any more. I want to get together to talk about closing or just [...]