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Small Business Tax Loopholes
Small Business Tax Loopholes A small business often struggles to run a business, make profits, and pay taxes. This is always an uphill battle, so when you get to the April 15 deadline business owners end up losing sleep over their tax returns and amount due....
How to Save and Invest as a Small Business Owner
How to Save and Invest as a Small Business Owner Do you feel like your business is going to take off any day now? Perhaps you are a new entrepreneur, just starting out and looking for the right way to save and invest. So how much money do you think you need? How about...
What is a Debt Management Plan?
What is a Debt Management Plan? If you are in a position where you owe more than what you make, then a debt management plan may be the answer for you. What is a debt management plan? It is a structured plan designed to help those struggling to pay off their debt by...
The Difference Between Cashflow and Profit
The Difference Between Cashflow and Profit Cash flow and profit can be confusing financial terms in the business world. While these two are essential to track as an owner, those new to finance and accounting find them synonymous while they truly mean two different...
Retirement Tax Credit for Small Businesses
Retirement Tax Credit for Small Businesses In previous eras employers did not opt for 401(k) plans, or other retirement plans, due to the complexities and costs associated with running a small business retirement plan. However, it has changed with the new SECURE Act...
Cost to Hire a CPA for Small Business
Cost to Hire a CPA for Small Business Accounting plays a vital role in expansion for small businesses, especially if running on a limited budget and resources. However, only 40% small business owners know about finance and accounting. This statistic shows the need for...
How Much Income Can a Small Business Make Before Paying Taxes?
How Much Income Can a Small Business Make Before Paying Taxes? If you own part of or an entire business you may have asked yourself how much money can the business make before paying taxes? The answer: no matter what type of businesses you have, you will always have...
Top 20 Tax Deductions for Small Businesses
Top 20 Tax Deductions for Small Businesses The IRC (Internal Business Code) is designed to provide any business with tax deductions, regardless if you are a registered business or a sole proprietor. Recently, the Tax Reform Law of 2017 (implemented in 2018), TaxCuts...
Filing Small Business Taxes for the First Time
According to the Small Business Administration, a small business of any type is liable to pay a tax rate of approximately 19.8%. Specifically, on average, a small business with just one owner typically pays a tax rate of under 14% while a business with more than one...