There are several primary reasons that we even keep records of our financial transactions. The one that everyone thinks of first — is records for federal and state income tax records. And, this is truly an important reason for your records. You will want to have records showing your income and expenses so that your […]
Start Planning Now for your Income Taxes
We know that you’re in some stage of preparation for either last year’s or this year’s income taxes. It may seem odd to start thinking about taxes just now, but actually, this is the ideal time to start planning and making business decisions with their tax implications always in the back of your mind. As […]
Here’s a Handy Year End Tax Prep Checklist
Question: What should I take to my tax preparer for filing my taxes? Lynn-New business owner. Professor Sassy-U: “You should take your SHOEBOX (or your BOOT-box) shoved full with all your receipts and paper work scrambled together…that way your tax preparer can charge you lots of money with extra fees, and we can retire while we’re […]
Tax Prep Tips – Stuff the Turkey and Your 1099 Envelopes
Happy Thanksgiving! In a little over a month, it will be 2015 and time to execute your year-end accounting “to do” list. Getting your 1099s out now will save time later. Here are some tips to do just that: Go through your vendor list. Identify each contractor and ensure their eligibility as a 1099, then […]
Who’s Watching Your Nanny Taxes and Household Payroll Compliance?
There is never enough time in the day, right? Realizing we can’t do it all is important. Hiring help for personal tasks at home such as caregiving for the children, elderly, or a special needs family member allows you to have more time to run your business or career. You know how to hire for […]