Like most of our Blog posts, this was born out of many questions from clients about this topic. So we decided to post this as a resource for your and any other S-corp business owner out there. Here’s the issue: how do you pay yourself as an owner of S-corp and stay out of trouble …
Let’s face it, keeping on top of your business finances is a JOB of its own! Cash flow, budgets, retirement, best investment strategies…you get it, a lot to keep track of. And if you get lucky enough to have a good Financial Adviser and a good Tax Accountant, you can have the best advice that …
Why Business Owners Need Tax Planning + Financial Planning Read More »
Every business owner goes through the process of deciding how to hire someone when they get to the point where they’ve outgrown their current situation or just need a bit of extra help. You’ve found the right candidate and now you need to decide whether or not to hire a contractor or employee…this is where …
Don’t get caught at year-end with nasty surprises. Read our post about how to prepare for next year.
Here at iAccounting Solutions, Xero is our first choice in helping small businesses keep better track of of their finances. That’s why when Xero announced the Business Performance Dashboard, we were pretty excited. What Is It? In short, the Performance Dashboard is a simple way to check the health of your business. By using simple …
Xero’s Business Performance Dashboard And How To Use It Read More »
April 15 is the tax day deadline for most people. If you’re due a refund there’s no penalty if you file a late tax return. But if you owe taxes and you fail to file and pay on time, you’ll usually owe interest and penalties on the taxes you pay late. Here are eight facts …
If you run a small business, then chances are you maybe required to file 1099’s. These are probably one of the most misunderstood forms business owners file. Here’s the scoop: What are they for? Form 1099 is used to report money paid to individuals who are not your employees. The IRS …
Today, I received a news alert from the IRS. I thought I would share as it’s chalked full of useful information. Here are some tips from the IRS on tax recordkeeping. • You should keep copies of your filed tax returns as part of your tax records. They can help you prepare future tax returns. You’ll …
Although the 2012 tax season is officially over, tax scams unfortunately are not, which is why the IRS issues an annual “Dirty Dozen” list that includes common tax scams affecting taxpayers. Taxpayers should be aware of these tax scams so they can protect themselves against claims that sound too good to be true, and because …
Don’t Be Fooled: The Dirty Dozen Tax Scams for 2013 Read More »
If you have income that is not subject to withholding you may need to pay estimated taxes to the IRS during the year. Whether you need to pay estimated taxes is dependent upon your financial circumstances, what you do for a living (if you’re self-employed for example), and the types of income you receive. Here …