Many businesses hire part-time or full-time workers, especially in the summer. These types of employees are referred to as seasonal employees, which the IRS defines as an employee who performs labor or services on a seasonal basis (i.e., six months or less). Examples of this kind of work include retail workers employed exclusively during holiday […]
Seasonal Employees and Taxes Read More »
If you’re thinking about hiring new employees this this year you won’t want to miss out on tax and Payroll tax deduction breaks available to businesses with employees. 1. Payroll Tax Deduction for Startups As part of the Research & Development Tax Credit, for tax years 2016 and beyond, startup businesses (C-corps and S-corps) with
Top 6 Tax Breaks for Businesses Hiring New Employees Read More »
Accounting: Crowdfunding websites such as Kickstarter, GoFundMe, Indiegogo, and Lending Club have become increasingly popular for both individual fundraising and small business owners looking for start-up capital or funding for creative ventures. The upside is that it’s often possible to raise the cash you need but the downside is that the IRS considers that money
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If you’re thinking about hiring new employees this year, you won’t want to miss out on these tax breaks. 1. Work Opportunity Credit The Work Opportunity Tax Credit (WOTC) is a federal tax credit for employers that hire employees from the following targeted groups of individuals: A member of a family that is a Qualified
Tax Breaks for Hiring New Employees Read More »
The summer is over, fall is beginning, and it is time to get back into the normal routine. But what if you decided to do something different this fall? While the kids are in school, instead of coming home from work and spending two or three hours watching TV, how about turning those evening hours
4 Reasons to Start a Business in the Information Economy Read More »
Can you point your company in the direction of financial success, step on the gas, and then sit back and wait to arrive at your destination? Not quite. You can’t let your business run on autopilot and expect good results. Any business owner knows you need to make numerous adjustments along the way – decisions
Ensuring Financial Success for Your Business Read More »
Do you know the difference between accounting and bookkeeping? When many small businesses open up, the owners sometimes use those terms interchangeably but they do have noticeable differences. In your small business, you have to keep up with both functions. Here are the differences between accounting and bookkeeping:  Bookkeeping is the process of the record-keeping of all financial transactions
What is the difference between Accounting and Bookkeeping? Read More »
Owning a home may not seem like a strategic business move and many small business owners have elected to remain renters in the Phoenix market after the market crash. Those who have sought financing for their businesses, however, may see the benefit of owning versus renting and I’d like to share with you a few
Four Ways That Being a Homeowner Can Help You as a Business Owner Read More »
If there is a fear business owners have over most others, it is an audit from Uncle Sam. Small businesses are highly susceptible to an IRS audit because of the extensive itemization of the returns they typically file. To avoid an IRS audit, a business needs to structure their tax paying and filing activity in
How Small Business Owners Can Avoid an IRS Audit Read More »
If there is a fear business owners have over most others, it is an audit from Uncle Sam. Small businesses are highly susceptible to an IRS audit because of the extensive itemization of the returns they typically file. To avoid an IRS audit, a business needs to structure their tax paying and filing activity in
How Small Business Owners Can Avoid an IRS Audit Read More »
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