When you retire, tax planning is likely at the bottom of the list of things you want to be spending your time on. We believe, starting tax planning for Retirement as early as possible is a great way to keeping taxes low or zero during retirement years. This means thinking about where and when to…
Self Employment Taxes vs. Regular Income Taxes
Ah, America’s favorite season is finally here. Luckily for all of us, tax filing season begins on January 24th this year, so it’s time to prepare ourselves. Well, this year is a little different for many, as the so-called “great resignation” has fueled a large number of people to become self-employed for the first time. In…
What Is the Difference Between a CPA and a CFA?
Taking charge of your finances can be a struggle. In fact, nearly 40% of Americans struggle with their finances in some capacity. To combat this issue, many people turn to CPAs and CFAs. These financial professionals can help individuals get their finances back in check. If you’re planning to work with one of these professionals, it’s important…
SBA 504 Loans: An Ultimate Guide
The global pandemic of 2020 changed everyone’s life in significant ways. But, one way it hit us is in the area of small businesses. 1.8% of all small businesses report they will never reopen after the pandemic. On the surface, this may not seem like much, but in reality, it is a lot of local businesses….
Can an S Corp Do a 1031 Exchange?
Are you a small business owner or are you a real estate investor looking to see ” Can an S Corp Do a 1031 Exchange”. Answer is YES. As long as you sell the Real Estate that is held under the S Corp and buy another property under the Same S Corp you allowed to…
Do You Want to Apply Your Refund To Next Year’s Return?
There are only 3 options when it comes to filing taxes. Either you pay taxes, break even or get a refund from the IRS. If you are getting a refund, your accountant or tax software may ask you “Do you Want to apply your refund to Next Year’s Return?” Read on to better understand your…
How to Start A Bookkeeping Business?
How to Start a Bookkeeping Business? Image Credit Pixabay Bookkeepers are some of the most in-demand professionals in every sector globally. Managing and maintaining financial records like payroll, profit and loss statement, cash flow, and investments are challenging for a businessperson with no background in accounting. This is when both small businesses and giant corporations…
How Long Does It Take to Get an LLC?
So you’ve decided to start your own business, and you need to get an LLC? Are you unsure of how to get or set up an LLC? The first step in forming your company is finding the proper legal structure for it. The law allows you to conduct business under different types of legal structures….
Payroll Taxes for Employee and Employer
Whether you are an employee or an employer, payroll taxes apply to both. Have you ever wondered, how much do employers pay for payroll taxes? Similarly employees pay for payroll taxes out of their paychecks as well. What is Payroll Taxes? Payroll Taxes are taxes paid by employees and employers on salaries and wages…
Self Employed Social Security and Medicare Taxes: Key Facts
Are you self employed or small business owner? Do you ever wonder if are paying your Social Security or Medicare taxes? Lets learn more about “Self Employed Social Security and Medicare Taxes” keep reading Self Employed Social Security and Medicare taxes are sometimes called self employment taxes. These taxes apply on your earned income from…
