Small Business Tax and Accounting

/Small Business Tax and Accounting

The 4 Choices a Small Business Owner Has When Their Business is No Longer a Side Business

By | March 23rd, 2017|Categories: Editorial Commentary, Small Business Tax and Accounting|Tags: , , , |

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 [...]

Addition By Subtraction: Reducing Your Business’s Service Area

By | March 15th, 2017|Categories: Small Business Tax and Accounting|Tags: , |

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 [...]

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.

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

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.

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

How to Calculate Estimated Tax Payments

By | February 13th, 2017|Categories: Small Business Tax and Accounting|Tags: , , |

A common question from business owners is, how and when do I calculate quarterly estimated tax payments?

Comments Off on How to Calculate Estimated Tax Payments