Small Business Tax and Accounting

/Small Business Tax and Accounting

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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Bookkeeping Software is Deceptively Simple

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

Here’s the problem with Quickbooks, or any other software solution for bookkeeping: it’s deceptively simple.

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Why is the SE Tax Deduction Taken on the 1040 and Not on Schedule C?

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

Question from a web visitor: why is the deduction for 1/2 of self-employment tax taken on the front side of the 1040 and not on the proprietorship’s Schedule C?

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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 [...]

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