Disregarded Entity Definition – What is a Disregarded Entity?

What is a disregarded entity? A disregarded entity is a business entity which is considered to be an undivided part of the owner of the entity for federal tax purposes. That is, the entity is disregarded as an entity separate from the owner. A good example of disregarded entities is a single member LLC that… Continue reading Disregarded Entity Definition – What is a Disregarded Entity?

Disregarded Entity Definition – What is a Disregarded Entity?

What is a disregarded entity? A disregarded entity is a business entity which is considered to be an undivided part of the owner of the entity for federal tax purposes. That is, the entity is disregarded as an entity separate from the owner. A good example of disregarded entities is a single member LLC that… Continue reading Disregarded Entity Definition – What is a Disregarded Entity?

Small Business Top Tax Questions

Basic Tax Questions That Small Business Owners Should Ask How should I keep my records? What kind of records should I keep and how long? One of the most important things in small business accounting is to keep good records. Good financial records help you calculate income and expenses, monitor financial status, and file tax… Continue reading Small Business Top Tax Questions

Small Business Top Tax Questions

Basic Tax Questions That Small Business Owners Should Ask How should I keep my records? What kind of records should I keep and how long? One of the most important things in small business accounting is to keep good records. Good financial records help you calculate income and expenses, monitor financial status, and file tax… Continue reading Small Business Top Tax Questions

What You Need To Know About Your Business Before Hiring A CPA Firm

When you run your own business, you’re in deep in every decision that’s made simply because it’s your neck on the line. What’s more, it’s your money on the line, which means contemplating the hiring of a CPA firm. This can be a bit difficult for some business owners because they’ve essentially depended on themselves… Continue reading What You Need To Know About Your Business Before Hiring A CPA Firm

Business Expenses and Tax Deduction

Business Expenses – What Expenses are Tax-Deductible? The more business expenses you legitimately deduct, the lower your taxable income will be. Here is a summary of business expenses that you may deduct to lower taxable profit. Business ExpensesExpenses to Run BusinessAuto Expenses (Cars and Trucks)Legal and Professional ServicesCommissions and FeesTravel ExpensesMeals and EntertainmentEducation ExpensesTaxes and… Continue reading Business Expenses and Tax Deduction

Business Expenses and Tax Deduction

Business Expenses – What Expenses are Tax-Deductible? The more business expenses you legitimately deduct, the lower your taxable income will be. Here is a summary of business expenses that you may deduct to lower taxable profit. Business ExpensesExpenses to Run BusinessAuto Expenses (Cars and Trucks)Legal and Professional ServicesCommissions and FeesTravel ExpensesMeals and EntertainmentEducation ExpensesTaxes and… Continue reading Business Expenses and Tax Deduction

Overlooked Business Expenses – Tax Deductions

For small business owners, every dollar counts. While you work hard to make more profits from the business, your income and self-employment taxes can be still too high for you to afford. Carefully review your tax return and check if you’ve deducted all expenses qualified for deductions. Surprisingly, you may still miss a few. Here… Continue reading Overlooked Business Expenses – Tax Deductions

Overlooked Business Expenses – Tax Deductions

For small business owners, every dollar counts. While you work hard to make more profits from the business, your income and self-employment taxes can be still too high for you to afford. Carefully review your tax return and check if you’ve deducted all expenses qualified for deductions. Surprisingly, you may still miss a few. Here… Continue reading Overlooked Business Expenses – Tax Deductions