Taxes

What is the difference between gross income and taxable income?

The IRS determines how much of your federal income tax is owed based on your gross income. There are specific tax codes that can affect it, which ...

Taxes

March 17, 2016

Tax Saving Tips Most Small Business Owners Don’t Know Exist

In order for small business owners to get the upper-hand during tax season, it must begin on day one of the tax year. That means organizing your receipts and filing your expenses in an organized format that will be easy to recall when it comes ...

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Chase the vision, not the money, the money will end up following you.Tony Hsieh, Zappos CEO

How does a Business Tax Write-off Work?
Taxes

How does a Business Tax Write-off Work?

Small businesses can live and die by tax deductions and write-offs; when you don’t have a lot of free capital, you need to find any way that you ...

Section 179 Depreciation Deduction: What Every Business Owner Needs To Know
Taxes

Section 179 Depreciation Deduction: What Every Business Owner Needs To Know

The Section 179 IRS code refers to the ability for small businesses to use what is called a depreciation deduction for capital expenditures over ...

How Do I File Taxes for an LLC?
Taxes

How Do I File Taxes for an LLC?

If you own an LLC, you can decide how the IRS treats your business, either choosing to use partnership, corporate or sole proprietor tax rules. ...

7 Tax Deductions No Small Business Owner Should Ignore
Business finance

7 Tax Deductions No Small Business Owner Should Ignore

Many business owners are unaware of some tax deductions they are qualified for. Many business owners continually look for ways to lower their ...

4 Money Saving Tax Tips for Restaurants You Shouldn’t Miss
Taxes

4 Money Saving Tax Tips for Restaurants You Shouldn’t Miss

April 15 is only a few short weeks away. And while savvy restaurant owners use a proactive approach to taking advantage of the business tax ...

6 Top Tax Write-Offs for Small Business Owners
Taxes

6 Top Tax Write-Offs for Small Business Owners

Tax season is here. And while some Americans can get creative with their deductions, many small business owners overpay their taxes every year ...