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General Business Credit (Form 3800): How To Fill it Out and Get Tax Credits
As a business owner, you can pay less in taxes by taking advantage of credits or deductions. Tax credits lower the amount you owe. For example, if your tax bill is $15,000 but you have $5,000 in tax...
View Article5 Reasons You Shouldn’t Wait to Catch Up on Bookkeeping in 2023
Running a business is, without a doubt, a challenging task that requires a lot of commitment, effort, and attention to detail. Did you know 82% of small businesses fail due to cash flow management?...
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How To Fill Out Form 1065
Form 1065 is the end-of-year tax form for small businesses that operate as partnerships. So if you registered your business entity as a partnership, you must file the form at the end of your company’s...
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What happens if you miss the tax deadline?
There’s a lot to keep track of when you run a business. Many business owners look at their calendars halfway through April and realize that they missed their tax deadline. If this happened to you, it’s...
View ArticleWhat happens if you get audited and don’t have receipts?
Most small businesses have a low probability of going through an IRS audit, but it’s possible. What happens if you get audited and don’t have receipts to back your expenses? It’s a common question and...
View ArticleHow far back can the IRS audit?
Generally, the chances of the Internal Revenue Service (IRS) auditing you are low. For most taxpayers, the audit rate is less than 1% to 2%. However, businesses tend to have more complex tax returns,...
View ArticleLLC vs. S corp: Which is right for your business and taxes?
One of the most important decisions for business owners is which type of business entity to form. Your business structure impacts your tax savings, accounting practices, and how you pay yourself....
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Best business banks of 2023
The biggest rule of thumb when running a company is to keep your personal and business finances separate. To do that, you need to choose the best business bank for you, which may not be the same one...
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Funding for startups: A guide to getting capital for your business
Getting funding for your startup business is one of the most important decisions you’ll make as a business owner. The type of startup funding you choose will have long-lasting impacts including: How...
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8 Benefits of Online Bookkeeping
You’ve put your heart and soul into your business. So why does it feel like you’re spinning your wheels, trying to keep up with your core business and your administrative overhead at the same time?...
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