Small Business Tax and Accounting

/Small Business Tax and Accounting

Home Office Deductions and the “Exclusive Use” Rule

By | June 9th, 2017|Categories: Small Business Tax and Accounting|Tags: , , |

One of the basic truths for any taxpayer wanting to claim a deduction for business use of the home is, the office area must be used 100% for business purposes. And 100% business use means 100%. But is that really always true?

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Glossary: Bonus Depreciation

By | May 24th, 2017|Categories: Glossary, Small Business Tax and Accounting|Tags: , , |

Bonus depreciation, in tax terms, refers to an accelerated form of depreciation available on certain types of assets.

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What I Mean When I Say “Consult an Attorney”

By | May 22nd, 2017|Categories: Small Business Tax and Accounting|Tags: , |

I don’t recommend a small business hold an attorney on retainer. But I DO recommend that a small business have a relationship with an attorney that they can call on when the need arises.

Hiring Employees: Is it a Want or a Need?

By | May 12th, 2017|Categories: Small Business Tax and Accounting|Tags: , , |

Image courtesy of user "Geralt" on Pixabay.com One time I was helping a small business owner who was going through a rough time with her business. It was leaking cash, she was taking almost nothing out for herself, and she was burned out. Her business only took in about $50,000, but somehow she had [...]

When Should I Form an S-Corp?

By | May 4th, 2017|Categories: Small Business Tax and Accounting|Tags: , |

You should look at forming an S-corp when your net income from the business starts to approach the amount of a “reasonable salary” for the work you do.

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