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Getting Your Business Off to a Good Start, Part 9: Wrapup Post

By | March 1st, 2017|Categories: Potpourri of Tax Topics|Tags: , , , |

For nearly 4 months I've been posting excerpts from a presentation I give to entrepreneurs trying to get businesses off the ground. Because the posts are scattered across many weeks, this post serves as a reference point to pull them all together. Part 1: Proper Recordkeeping Part 2: Scanned Copies of Receipts Part 3: Bookkeeping Systems [...]

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Getting Your Business of to a Good Start, Part 8: Estimated Tax Payments

By | February 27th, 2017|Categories: Small Business Tax and Accounting|Tags: , |

To understand estimated tax payments and why you might need to make them, one needs to understand how taxes work.

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Does Coast Guard Retirement Pay Count Toward the Iowa Military Pension Exclusion?

By | February 23rd, 2017|Categories: Potpourri of Tax Topics|

Iowans who receive pension income from the military can exclude that income from taxation on their Iowa tax return. Does Coast Guard pay count toward this? Yes.

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Things Tax Preparers Say: “S-Corp Reasonable Comp is 25% of Your Gross Income”

By | February 21st, 2017|Categories: Small Business Tax and Accounting|Tags: , |

S-corporation reasonable compensation is one of the most misunderstood concepts in tax law. And that's saying something, considering how mind-numbing U.S. tax laws are.

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Glossary: Intangible Asset

By | February 17th, 2017|Categories: Glossary|Tags: , , , |

One way of looking at intangibles is, they are business assets that cannot be physically touched.

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