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Tax Thursdays: How Long Should I Keep My Tax Records?

by Justine Smith | May 16/2013 | business-records, tax-records
Tax Thursdays: How Long Should I Keep My Tax Records?

Now that tax season is finally winding down, I bet you’re wondering how long you need to keep your tax records for? While it’s different depending on where you live, here’s the skinny for U.S., Canadian and UK residents:

U.S.

In the U.S., the amount of time you need to keep your tax records depends…


Tax Thursdays: Slapped With a Huge Tax Bill? Here’s What to Do

by Justine Smith | May 9/2013 | high-tax-bill, tax-thursdays
Tax Thursdays: Slapped With a Huge Tax Bill? Here's What to Do

Most people put off filing their taxes to the last minute – not so much out of laziness but out of fear of what’s to come. Small business owners usually have not-so-small tax bills to cover, especially if they don’t prepare for their taxes throughout the year. The question is, what do you do at…


Tax Thursdays: Filing Late? Here’s What You Need To Know

by Justine Smith | April 25/2013 | late-tax-fees, tax-thursdays
Tax Thursdays: Filing Late? Here's What You Need To Know thumbnail

When you work for yourself as a freelancer or business owner, it’s really easy to procrastinate. You call the shots – you make the schedule – you decide when stuff gets done. As great as that is, it can also come to bite you when you realize you’re late on filing your tax return.

This…


Tax Thursdays: 3 Best Practices to Avoid the Audit

by Guest Author | March 14/2013 | auditing-tips, avoid-audit, 0
 Tax Thursdays: 3 Best Practices to Avoid the Audit

Avoiding the audit

Every business owner dreads receiving that letter with the words “you’ve been selected for an audit.”

While it’s true that some audits are random, here are 3 tips you can use to stay in the clear:

1. Stay reasonable

Many times there is a fine line between personal and business expenses. If you and your…


Tax Thursdays: Should I Expense That? Marketing Edition

by Guest Author | February 28/2013 | marketing-expenses, tax-expenses
Tax Thursdays: Should I Expense That? Marketing Edition thumbnail

Welcome to our last post in the “Can I expense that” series for Tax Thursdays. Last time we discussed tech expenses, this time it’s all about…

Marketing, but what can you expense?

Almost anything can be a marketing expense. It’s the thought that counts. There are as many ways to draw attention to…


Tax Thursdays: Can I Expense That? Tech Edition

by Guest Author | February 21/2013 | business-expenses, tax-thursdays, tech-expenses
Tax Thursdays: Can I Expense That? Tech Edition

Welcome back to our “Can I expense that” series for Tax Thursdays. Last time we discussed travel expenses, this time it’s all about…

Tech expenses - what can you deduct?

We no longer live in the days of “Mad Men” when business only happened from 9 to 5 at the office. Most people…


Tax Thursdays: The Top 5 Traits For Your Tax Accountant

by Guest Author | January 24/2013 | find-accountant, taxes
Tax Thursdays: The Top 5 Traits For Your Tax Accountant

Top 5 accountant traits

As a small business owner, your accountant is a crucial piece to your business’ operational puzzle. If you are on the hunt for a tax accountant, you have discovered by now that there is a dizzying array of accountants and firms from which to choose.

When you begin to consider the many ways in which…


Tax Thursdays: 3 Reasons Not To Do Your Taxes Yourself

by Guest Author | January 17/2013 | diy-taxes, taxes-yourself
Tax Thursdays: 3 Reasons Not To Do Your Taxes Yourself thumbnail

Turbo Tax and TaxAct, the two market leaders in Do It Yourself (DIY) tax software make up 78% of the DIY tax preparation market. A market that grew 11% in 2012. Obviously a growing number of people are choosing to prepare their own taxes, but there are times when I think you really do…


Tax Thursdays: List of Important Tax Dates for 2013

by FreshBooks | January 10/2013 | 2013-tax-deadlines, tax-dates, tax-thursdays
Tax Thursdays: List of Important Tax Dates for 2013

Tax season is upon us, so here’s a quick reference list of all the important tax dates and deadlines for 2013 in the United States, Canada and the United Kingdom:

Important U.S. Tax Dates for 2013

Listed below are some of the most important U.S. tax dates in 2013 for small businesses and sole proprietors:


Tax Thursdays: 5 Steps to Getting Your Taxes Together

by Guest Author | January 3/2013 | tax-thursdays, tax-time
Tax Thursdays: 5 Steps to Getting Your Taxes Together

If you are still basking in the glow of holiday joy, the next 5 letters I write may snap you back to reality…

Taxes.

Yes, I said it. And, yes, it is that time of year again. It’s time to get organized. But never fear because taxes aren’t really that daunting of a task, as…