Ask anyone who’s been in business for more than 10 years and you’ll get the same reaction when you bring up small business taxes: Please change the topic. It’s not just that the topic is mind-meltingly boring (it is) or a buzz-kill (it is). It’s because taxes are always the biggest expense we have and, […]
2016 Business Tax Return Checklist Please find below of information necessary to complete your business tax return. Basics: The date of incorporation The State in which you incorporated the name of your business the Federal ID # the address of your business the number of shares of stock authorized the number of shares issued to whom […]
Your major expense, or emergency fund should be enough to cover your major expenses for 6 months to a year. Here are some important expenses to consider when determining how much you save… The urge to spend all you make is called consumer mentality. Try to get investment mentality instead. – Edward H. Romney Housing expenses: […]
Importance of Separating Personal & Business Finances Maintain separate checking accounts Start with your bank. Open a business checking account. “If there’s ever a question as to whether it’s a hobby or a business, the IRS looks to see if you have a separate checking account,” says Richard Salmen, a certified financial planner with GTRUST […]