Oh, you screwed up? Good.

So, you started a business? Kick-Ass!!! Now the fun begins. Do you incorporate? Form an LLC? Are you a sole proprietor? WHAT?! Here are a few of the basics… If you are all by yourself in this little (or big) venture, you ARE a sole proprietor. But you have options…Forming an LLC is a good…
So you finally took the big step and hired some much-needed help. Great job. Now you can focus on your income-building tasks and leave some of the other things to your new helper. Your other business owner friends have suggested that you just pay this person as a contractor to save yourself some cash by…
Running a small business can be overwhelming. Boy, do I know the feeling! Are you the owner, the manager, accountant, human resources director, compliance department, janitor, salesman, and IT guy/gal all in a single day? Yep, I’ve been there and so have my clients. When you’re first starting out, it seems like a no-brainer that…
Hiring your kids to work in your small business can be a great idea. You can teach them the value of a hard-earned dollar and their compensation may be tax deductible, minimizing your business taxable income. Here are some things to consider…Make sure their pay is commensurate with their age, experience, and education. If their…
Tax Credits and Tax Deductions are great! Both reduce the amount of taxes you will have to pay at tax time but there is a big difference. Tax DEDUCTIONS reduce your taxable income while tax CREDITS reduce the amount of tax you pay. Why is this important? Well let’s say you want to buy a…
Business Owners…As we are nearing the close of this tax season, make sure you are taking advantage of every opportunity to cut your tax bill. Business owners can deduct business expenses from the amount of income they earn throughout the year. For an expense to qualify as a “business expense” it must be directly related…