Did you know that when you provide a gift to a customer, the maximum deductible amount is $25 per person? Do you and your bookkeeper know the most important points to consider when gifting? Any questions on how gifting works?…
Interesting quick tips on travel and entertainment meals. Watch the Video! You must have records to prove the business purpose, the amount of each expense, the date and place of the entertainment, and the business relationship of the parties entertained…
When you go into business, your focus would be on building a better widget, serving a specific customer, or the like, and not on bookkeeping. I would recommend delegating such tasks. Here are some questions that you should ask: "How…
Who do you need to give a 1099 to? how do you provide the subcontractor a 1099 Recommendation to all of the business owners, which will make 1099s much easier, is to ensure that before you pay anyone, do not…
A critical mistake some business owners make is not being familiar with the IRS limits on gifting. There are two types of gifts: Personal gifts, which, for tax purposes, can either fall under the lifetime limit or the annual limit Business gifts…
Financials and accounting are just part of being a business owner. However, you go into business to build a better widget, or serve a specific customer niche, or whatever it is, but you go into business specifically so that you…
One of the ways to plan your taxes in advance to avoid penalties and interest is to do a tax planning session in November/December Make sure you submit the full payment by the extended deadline. Expect a notice from the…
If you're a business owner, right now is a great time of the year, before the rush of the holidays, to get your tax books and get your bookkeeping reconciled IRS makes us ensure that we have logs. We're not…
Instructions on how to help clients get the answers they need from you. Watch the Video! Helping your customers automate their systems Ways that can facilitate customer service: For example, an auto-response to your client’s or customer’s emails informing them…
Did you know that a dog is a potential tax deduction? Clearly, this doesn't apply to just any family pet, but if your dog meets certain criteria, man's (or woman's) best friend can help you increase your tax deductions. Security…
Delegation! Watch the video to learn what this really has to do with taxes? Setting up a tuition reimbursement plan within your company: If you own a company, especially if it is an S Corp or a C Corp, where…
Watch the video to drop your taxes in 2016! Filing your tax returns on time, the IRS, at the federal level, can audit you going three years back. Document retention; any documents related to real estate should be kept permanently. Any…
Imagine, for a moment, that you're a hardworking pot dealer just trying to operate an honest shop in the newly legal marijuana industry. You get audited, and the examiner hits you with a $290,000 bill! He then asks to talk…
Guest post by: Giselle C. Alexander*, J.D., LL.M., C.P.A. Taxpayers have an opportunity to resolve delinquent taxes with the Arizona Department of Revenue and receive the benefit of penalty and interest abatement. The recovery period is brief, so taxpayers should…
Sports fans go crazy this time of year! Baseball fans are watching the pennant races heat up; football fans are watching the NFL take the gridiron to kick off the new season; and tennis fans are moving their heads from…
