Millions of businesses use at least one small business software platform to do everything from running payroll to managing customer relationships. Software can simplify processes, save time, and ensure accuracy. But the more systems you use, the greater your costs. Can you take a software tax deduction to offset your expenses?
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Accounting Tips, Training, and News
January 14, 2025
How to Apply for a Business Loan in 7 Simple Steps
Just starting your entrepreneurial journey? Been in business for over 10 years? Regardless of if you’re a veteran business owner or just starting out, you may need to get a business loan. So, where do you start? Let us walk you through how to apply for a business loan.
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January 14, 2025
Business Revenue: The Basics
Revenue is a vital part of your business. Your business needs revenue to survive. So, you must understand revenue.
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January 3, 2025
Retained Earnings Formula: Examples, Calculation, and More
When you own a small business, it’s important to have extra cash on hand to use for investing or paying your liabilities. But with money constantly coming in and going out, it can be difficult to monitor how much is leftover. Use a retained earnings formula to track how much your business has accumulated. Knowing […]
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December 30, 2024
Deductible Business Mileage: What Drives Are Tax-deductible?
If you’re a small business owner, you can deduct your mileage on taxes as a business expense. But, make sure you’re following the rules about what drives you can deduct. Here’s what every small business owner should know about deductible business mileage.
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December 30, 2024
Business Use of Vehicle: Drive Your Way to Tax Savings
How often do you drive to meet a client or your accountant? Do you frequently make bank runs for your business? Depending on your business use of vehicle, you may qualify for a nice-sized tax deduction.
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December 30, 2024
9 Self-employment Tax Deductions You Should Be Taking
If you are self-employed, you might be overwhelmed by the expenses you have, including your self-employment tax liabilities. However, you can claim self-employment tax deductions to reduce the amount you owe in taxes. See how you can take advantage of self-employed tax relief below.
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December 30, 2024
Business Mileage Deduction 101
Miles spent driving to meet clients, going to an office supply store, and depositing a customer’s check at the bank can add up. If you use a vehicle for small business purposes, you might qualify for a business mileage deduction from the IRS.
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December 30, 2024
Beneficial Ownership Information Reporting Is Required for LLCs, Corps, More
Attention! On December 26, 2024, a federal appeals court reinstated a nationwide injunction halting the enforcement of the BOI reporting requirements. Reporting companies do not need to comply with the BOI reporting deadline pending a further order from the court. Stay tuned for updates. A new rule, known as company beneficial ownership information reporting, took effect on […]
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December 17, 2024
5 Signs It’s Time to Hire an Accountant
Accounting, taxes, and financial planning are tricky tasks to navigate, plain and simple. Thankfully, there are tools, like accounting software, you can use to streamline your responsibilities. But at some point, you might decide to hire an accountant for their professional guidance.
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