Small Business Blog for Entrepreneurs and Startups
Paying taxes is a major concern for business owners because they have a drastic effect on the bottom line profit. Decide how to structure your business to avoid paying too much tax and find the top 10 tax deductions for small business you may have missed.
Check out my guide on how to start your business right with tons of useful tips I learned by successfully starting, building, and selling multiple companies.
If you have started a business recently, or are planning on starting a business in the near future, you will be entitled to many deductions on your annual personal taxes based on your startup business expenses. It is important to be aware of these as you go so that you can make sure to take [...]
Obtaining and Benefiting from an Employer Identification Number – Federal Tax ID Numbers ‘The road to recovery is to stimulate small business and innovation by reducing taxation, regulation, and litigation.’ – Sandy Adams, former Congresswoman, U.S. House of Representative As a Small Business Owner or aspiring Entrepreneur, government forms and tax considerations are probably not your [...]
If you start a small business you could pay substantially fewer taxes on your family’s income. This is true, regardless of your new business’s profitability. Starting a small business can legally save you thousands of dollars in taxes on you (and your spouses) full-time job incomes. Because businesses can claim tax deductions for housing, utilities, [...]
Whether you’re a storefront, e-commerce or service, the end of the year is hectic for every type of business. The year’s end is a strange time for businesses because everyone is trying to phase out older models while simultaneously trying to introduce new ones. There’s a lot of unknowns and lots of shifts, but the [...]
Tax Day is coming up quickly, meaning that you must get your finances in order. You might forget to take some small business tax deductions if you do not. These tax write-offs could wind up saving you plenty of money if you use them. Even though some items are tax deductible, including employee costs, utilities, and [...]
Your new business will face risks and insurance coverage is available to protect your investment. Insurance carriers differ in types of policies offered, costs and limitations, so I recommend discussing your exact firm’s needs with a qualified insurance broker-agent. They will analyze your company and direct you to the insurance policies you should purchase for [...]
It is said that the only things certain in life are death and taxes, but for businesses, which might not always be true. Whether and how companies are taxed is dependent upon the type of corporation that is C-corporation or S-corporation. Kinds of Corporations There are two kinds: C corporations and S corporations. An C [...]
