Small Business Tax and Accounting

/Small Business Tax and Accounting

Turning a Profit is Not a Bad Thing

By | May 10th, 2018|Categories: Small Business Tax and Accounting|Tags: , |

I always get sideways looks from people when I say this: turning a profit is not a bad thing. Yes, you’ll have to pay tax on that profit, and that stinks. And yes, of course you should deduct everything you possibly can. But when you show losses in a business venture, that means you spent more money than you brought in.

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Three Ways A Small Business Can (Legitimately) Avoid Regulations

By | April 18th, 2018|Categories: Small Business Tax and Accounting|Tags: , |

A common question from business owners is, how can a small business avoid the crush of taxes and regulations while still staying within the confines of the law?

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Glossary: Independent Contractor

By | January 10th, 2018|Categories: Small Business Tax and Accounting|Tags: , , , |

In tax terminology, an independent contractor is someone who performs services for a business but who is not an employee of the business.

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Deducting Business Charitable Contributions

By | October 18th, 2017|Categories: Small Business Tax and Accounting|Tags: , , |

Let's look at how to account for charitable contributions made through your business.

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Can a Seasonal Business Do Budgeting and Break-Even Analysis?

By | September 26th, 2017|Categories: Small Business Tax and Accounting|Tags: , , , |

Even if a business is only open for 3 or 4 months out of the year, the business will have income and expenses during that timeframe. A business owner can estimate those numbers (budgeting!) and use those numbers to determine how many jobs need performed (lawns mowed, driveways cleared of snow, etc.) in order to at least break even.

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