Joe the Window Washer

/Tag:Joe the Window Washer

What is the Income Threshold for Going from Sole Proprietor to S-Corp?

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

I say it depends on your cash flow and whether or not you can afford to pay yourself a reasonable salary for the work you’re doing.

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 [...]

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

Can an Accountant “Save” a Struggling Business?

By | December 21st, 2016|Categories: Editorial Commentary|Tags: , |

Rarely do the “experts” define what “proactive” means, but one of the vibes I get is that our clients are these damsels in distress, wandering in the wilderness.

Comments Off on Can an Accountant “Save” a Struggling Business?

What EIN Do I Put on Schedule C?

By | July 20th, 2016|Categories: Small Business Tax and Accounting|Tags: , , , |

When a sole proprietor has an employer identification number (EIN), it would seem to be common sense that the proprietor would put that EIN on the Schedule C for the proprietorship. Not so fast -- especially of the sole proprietorship is a single-member LLC taxed as a sole proprietorship.

When Are Purchases Made With a Credit Card Deductible?

By | February 15th, 2016|Categories: Small Business Tax and Accounting|Tags: , , |

If a cash-basis business uses a credit card for business expenses, are those purchases deductible right away, or later on when the credit card debt is paid?