Which Business Tax Write-Offs Are Legit for Your Company?

Don’t pay the price for bad business tax write-offs. Business tax write-offs keep more of your money in your own pocket, as long as you only take the ones that are legitimate. Make a mistake and you will wind up paying dearly. The tax code becomes more convoluted every year. That makes every deduction or credit you claim a risk as well as a benefit.
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Categories: BUSINESS TAX STRATEGIES.

Is QuickBooks the Only Option for Bookkeeping and Accounting Software?

Take a look at the most popular bookkeeping and accounting software for small businesses. QuickBooks Online is undoubtedly one of the most popular bookkeeping and accounting software programs for today’s small business professionals. However, there are other options. Some of the alternatives are free, basic programs perfect for the smallest operations. Others are complex enough to handle heavy workloads. Still others will perform accounting, bookkeeping
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Categories: BUSINESS TAX STRATEGIES.

The Best Way to Avoid the Worst Three Accounting Errors

Avoid these three accounting errors to ensure a better tax season. When filing your business tax returns every year, it is very easy to find you’ve made a litany of accounting errors. These mistakes can cause severe problems for your business. For example, the IRS could set up an audit that finds you didn’t pay enough money. Even worse, you could discover that your finances
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Categories: BUSINESS TAX STRATEGIES.

What You Need to be Aware of With Online Tax Preparation Applications

Online tax preparation applications look easy, but there are problems lurking within. Tax preparation applications make a lot of great-sounding promises in advertisements. Claiming to make filing your taxes a breeze, as well as helping you get the biggest refund ever, they sound like a miracle product. These products claim to provide numerous advantages, many of which do sound tempting to busy individuals, such as:
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Categories: BUSINESS TAX STRATEGIES.

The Ugly Truth About Hiring a Business Accountant or CPA For Your Small Business

Small business owners should demonstrate caution when choosing a business accountant. Working with a business accountant can be a great option for small business owners who cannot afford in-house accountants but also cannot afford to miss out on hidden tax savings. Unfortunately, not all business accountants and CPAs are equally capable of delivering the high-quality audit protection, tax filing and estate planning services their clients
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Categories: BUSINESS TAX STRATEGIES.

Top 3 Accounting Mistakes That Cause Problems with the IRS

From omitted income to incorrect deductions, these accounting errors can lead to big trouble with the IRS. Every year, Americans procrastinate on their taxes, hurrying through them at the last minute and failing to catch a myriad of accounting mistakes. Many assume the IRS targets only wealthy taxpayers and large corporate entities with audits. This is not true, and even small errors can lead to
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Categories: BUSINESS TAX STRATEGIES.

Tax Strategies and Hidden Costs of Employees vs. Outsourced Labor

Business Tax Advantages You’ll Want to Learn About Sooner than Later In this progressively more competitive international marketplace, major corporations are evaluating potential business tax advantages of raising shareholder value significantly by establishing outsourced production processes. Outsourcing offers the potential to improve production greatly, but it is also fraught with risk. One of the greatest challenges involved is answering the question of whether or not
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Categories: BUSINESS TAX STRATEGIES.

10 Powerful Business Tax Strategies for Your Business Tax Return

Are You Using these Business Tax Strategies? It’s no revelation that everyone wants to save money on taxes using those elusive business tax strategies. Small businesses, however, without the same protections some individuals and most large corporations enjoy- need to look carefully each year to secure new methods of minimizing their tax burdens. While the methods available to small businesses may be obscure, they could even
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Categories: BUSINESS TAX STRATEGIES.

The Ugly Truth about Bad Business Write-Offs and What They Cost Your Business

What You Need to Know about Bad Business Write-Offs Bad business write-offs are a widely accepted way for businesses to save money on taxes. Generally, any business loss can be recorded as a tax write off, and can be applied as a tax credit. The standard wisdom is that all tax write offs are good- as long as they are reasonable. But sometimes using write-offs
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Categories: BUSINESS TAX STRATEGIES.

5 Business Write-Offs Most People Miss

Wondering how you can keep more of your income by maximizing the number of deductions you take? Here are five business write-offs you might be missing. Business write-offs are a key way to save money. While most businesses routinely take their deductions for medical expenses, utilities, retirement plans and conventions, for example, there are quite a few commonly missed expenses as well. Today we’ll take
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Categories: BUSINESS TAX STRATEGIES.