What Taxes Do Small Businesses Pay?

What Taxes Do Small Businesses Pay?

All businesses have tax filing and compliance obligations. The taxes owed and applicable types vary by business and activity. Common federal taxes include income, estimated, self employment, employment, and excise taxes. Not all taxes apply to every business. Most...
What’s the Deal With Business Records?

What’s the Deal With Business Records?

Choosing the right recordkeeping system is essential because you need a clear summary of every transaction your business makes. In most cases, small-business owners track this information in accounting journals and ledgers. These records typically reflect gross...
Time To Hire an Accountant?

Time To Hire an Accountant?

If you think that hiring an experienced accountant is only for large businesses or for wealthy individuals, you may want to question your thinking. In the past, you may have found using income tax software to be sufficient for your needs. However, over time, your...
The Wide World of Business Travel Deductions

The Wide World of Business Travel Deductions

If you travel a few times a year — or even more often — for work, flights, hotels, and client dinners can add up quickly. The good news is that you can deduct many of these costs if the trip qualifies as a business expense. When you understand what counts and what...