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: …
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 …
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 …
The tax deadline is fast approaching, have you done your taxes yet? If you’re anything like me, chances are you need a little pep talk, so here are 5 quick tips to motivate you to complete your taxes: 1. Find out how rich you …
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. …
If you give your customers gifts throughout the year, you may be able to deduct part of the associated cost. How much can you deduct? You can only deduct $25 per person per tax year. If your gift costs …
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 …
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 …
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 …
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 …