Business taxes can be complicated, especially for entrepreneurs. Read on for the essentials of sales, income, and other business taxes.
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Before we jump into the mechanics, you should know why the extra complexity is worth it.
If your business makes a lot of profit, you may be a good contender for S-Corp status. If the profit is more than what you would pay somebody else to do your job, then I recommend you look into it.
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If you've ever worked for someone else and received a paycheck, your taxes are withheld. The employer deducts that money from your paycheck and sends it to the government. With a few exceptions, you pay taxes on everything you receive. But businesses are different.
Fri-nally! It's the weekend! It was one heck of a week and now all you need is a break. You spun several pieces of fine china in the air to orchestrate all the to-dos and deliverables every day. You've earned some downtime!
When I was a freshman in high school, my first assignment was to read a book by Stephen Covey. The book was, “The 7 Habits of Highly Successful Students.” It was a play on his NYT best-seller, “The 7 Habits of Highly Effective People.”
When we talk about sports numbers aren't scary. Many fans know all the stats for their favorite team. For those that play in a fantasy league, they may know the main stats for every team and all-star player. When it comes to accounting, most people hit a mental roadblock. Business numbers are abstract compared to sports. All too often people tell me it's too difficult.
Every April 15th is a gut punch for so many Americans. you work super hard to earn a living, yet it feels like half of it goes to taxes.
Read MoreIn light of the coronavirus outbreak, you’re probably watching the financial markets and news and wondering how it will impact you. I’ll answer your questions here and add important information every business and person should know.
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