Do you want to work remotely but live across state borders from your employer? While a few miles over a border might not seem like a big deal in real life, it can have a serious impact when it comes to income taxation. In fact, you could end up paying taxes in both states. How can you avoid this? Here’s what you need to know.
How Location Affects Taxes
While federal income taxes are the same for all 50 states, these states each have their own methods of taxation to pay their own bills. Read More»
If you feel like it’s a struggle to keep your company finances in order and you don’t know what you’re doing, it may be time to get help. A business accountant can help by taking over your financial matters for you. They can also get you back on track so you feel like you have more control over your money. Here are the reasons you should hire a business accountant: Read More»
If you’re a small business owner, you may think that you can work without an accountant. Unfortunately, that’s not the case. When it comes to operating your own business, there are accounting errors that can destroy everything you’ve worked so hard to build. Unfortunately, some accounting errors can be difficult to recover from. Take a look at the list provided below. If you recognize any of those issues, it’s time to hire an accountant for your business operations. Read More»
As a company that offers commercial tax planning and preparation, it’s a natural transition to add business advisory services as well. Offering business advisory services can be a seamless extension of your services since business advisory includes assessing financial, tax, legal, and current market factors that could affect an expansion or change in a company’s operation. Here’s what you need to know about some of the struggles you may have and some tips to overcome them when you start offering business advisory services to your tax planning and preparation clients. Read More»
If you already have Original Medicare coverage, you can qualify for Medicare supplement insurance as well. The Original coverage has two parts: Medicare Part A and Medicare Part B. Part A offers hospital insurance while Part B covers medical insurance costs like doctor visits, vaccines, medical equipment, and specific screenings. Both parts may come with an annual deductible, copayments, and coinsurance for given inpatient treatments. To reduce the cost burden of your Part A and Part B Medicare, you should buy a Medicare supplement plan— also called Medigap or MedSupp. Read More»
Did you experience a drop in your expected refund when doing your taxes this year? Many Americans did, so you’re not alone. But why did this occur this year, and what should you do to avoid any surprises next year? Here are a few answers.
The Tax Cuts and Jobs Act
In late 2017, a large-scale change to federal income taxes was enacted. The Tax Cuts and Jobs Act (TCJA) altered something on just about everyone’s tax forms, from the rate at which they’re taxed to what can be deducted to how even the standard numbers are calculated. Read More»
When you are first starting a business, accounting can be a difficult task to master. However, there are several things you can do that can make your job much easier as you open your doors to the public.
Keep Your Finances Separate
Make sure to keep your personal and business finances separate. Do not place your personal assets and your business assets in the same bank account. If you are a sole proprietor, you are not legally required to keep a separate bank account, but doing so is highly recommended. Read More»
If you own a small painting business and have recently branched out by adding additional manpower by hiring a few more individuals, it may be burdensome to keep track of what you are actually earning and how much money is being spent on supplies, wear and tear to your work vehicles, and salaries. Hire a certified accountant to help take the guesswork out of your finances and streamline the payment process. Read More»
E-commerce businesses allow you the ability to sell items in the digital world, often without having to hold onto any of your own inventory. You are able to order inventory from manufacturers and have them send that inventory directly to your customers. If you are interested in getting into the world of ecommerce, you need to make sure that you know how to take care of the financial end of things. Read More»
If you own an automotive shop and have recently been swamped with customers, resulting in you haphazardly handling accounts receivable and payable, it may be difficult for you to keep track of the amount of money profited each week or the money needed to satisfy recuring bills. Get your finances in order by following the tips below.
Reduce And Organize Paperwork
If you are someone who tends to hold onto every scrap of paper that you encounter and neglects to file documents or dispose of what isn’t needed, you may feel overwhelmed with the mess you see whenever you go into your shop’s office. Read More»
