Many entrepreneurs start their businesses as sole proprietors. It’s an easy way to dip your toe in the water of being self-employed, but it’s important to meet your tax obligations. Here are some things to be aware of: Schedule C.…
If your small business is experiencing cash flow constraints, you’re not alone. The pandemic has lengthened the Days Sales Outstanding (DSO), the average number of days that it takes to collect payment for a sale, also known as the average…
The uncertainty of the past couple of years have caused many people to rethink their job situation. Some people have decided to quit working for someone else and have launched a new business, even in the midst of a pandemic.…
To run a successful business, you need to focus on more than just day-to-day operations. It’s also critical to pay attention to all aspects of your business – sales & marketing, customer service, research & development, and accounting. If you…
Many tax limits that affect businesses are annually indexed for inflation, and a number of them have increased for 2022. Here's a rundown of those that may be important to you and your business. Social Security tax The amount of…
Business travel has substantially decreased over the past couple of years due to the pandemic, but from time to time, employees still need to travel for work-related reasons. Maybe it’s driving between different employer-owned locations within a workday, or maybe…
Dubbed the “Great Resignation”, many employees are taking an opportunity these days to find a different job that better fits their lifestyle and goals. If you have a 401(k) account with your current company and decide to leave, you have…
It’s not new news that the pandemic has been tough on restaurants. If you own a business where tipping is customary for providing food or beverages, you may be able to offset some of your income tax liability by claiming…
Commercial property is generally depreciated over 39 years, and residential rental property over 27.5 years. Real property is more than just the building itself – it also contains plumbing, fixtures, carpeting, awnings, removable partitions, window treatments, lighting, HVAC systems .…
If you’re in the market for a new or used car, you already know that prices have skyrocketed lately. According to Edmunds.com, the average vehicle is expected to cost 38% above the starting MSRP in 2022. The average transaction price…