Posts tagged as:

Small Business Taxes




Cash-strapped businesses must make every dollar count. Excess inventory is a drain on resources as is idle unbilled time. Increasingly companies are turning to barter as a way to boost sales by converting excess goods and capacity into something that can be used for business. And they’re doing it while saving precious cash for those […]

{ Comments on this entry are closed }




Launching a new enterprise is a formidable and hectic time. There is much to be accomplished and limited time to accomplish it. If you intend to have employees, there are a variety of federal and state forms and applications that will need to be completed to get your new business up and running.   Employer […]

{ Comments on this entry are closed }




Last year there were new tax law changes. 2012 didn’t see a ton of tax law changes, but there are several you need to be aware of. Let’s dive right in, shall we? *Source: Feuerhelm Langer, Ltd., a St. Paul CPA firm Write-offs. If you leased or financed used or new machinery or equipment during 2012, […]

{ Comments on this entry are closed }




Soon it will be that time of year once again when most companies are closing their books. The company owners will either be partying or nursing their wounds. In any case, we as small business operators usually have some checking and tidying and decision making to do. Thanks goes to Universal Accounting School for this list – […]

{ Comments on this entry are closed }




Whether you’re looking to avoid ‘double taxation’ or reduce self-employment and payroll taxes, as a business owner you must determine which legal structure is optimal for your business, financial status, and taxation. The subject of double taxation and the S Corp, partnership and LLC pass-through treatment of computation is a primary consideration when assessing business structures. But […]

{ Comments on this entry are closed }




The lion share of IRS audits last year — 1.2 million — were done by mail. Only 392,000 involved an in-person meeting with the IRS. That’s not necessarily good news.   Taxpayers overall face a low audit risk: The IRS audited 1.1% of all individual tax returns filed in 2010, or 1.6 million returns of 141 […]

{ Comments on this entry are closed }




From Roth account conversions to new requirements in  capital gain and loss reporting, there are several tax changes for the 2011 filing coming up. Here is a rundown of  ten changes that can be of possible advantage to you this tax cycle.  If you have any questions about these or other tax changes, call us. We’d be […]

{ Comments on this entry are closed }




Application hosting is not limited to QuickBooks and Microsoft products any longer.  Kacee Johnson at Cloud9 Real Time Explains – The Cloud9 virtual server solution provides clients with a private cloud to host all their desktop applications including Tax Software, Time & Billing programs, CRM systems etc. Tax software hosting allows users to access the […]

{ Comments on this entry are closed }




If you’ve filed for an extension for reporting last year’s federal income tax, your deadline is quickly arriving. Here are some important resources to help you meet that deadline. Understanding that many small business operators are under pressure to meet the extensions they filed this past year, here is a six-week plan intended to guide […]

{ Comments on this entry are closed }




A growing roster  of associations representing small and closely held businesses are pressing leaders of the tax-writing committees in Congress to not omit them in any upcoming tax reform proposals. One letter, addressed to the chairmen and ranking members of the House Ways and Means Committee and the Senate Finance Committee, said they “… should […]

{ Comments on this entry are closed }




The accounting firm Brown Smith Wallace has been counseling its business clients on ways to save money on their taxes by taking advantage of some government incentives. Accounting Today’s Michael Cohn talked with two of the firm’s accountants last week about the tips they give their clients. Cathy Goldsticker, a member of the tax services […]

{ Comments on this entry are closed }




As the owner of a small family company one day you’ll need to exit the business. You can stay on as long as you can, but eventually, you’ll have to plan your exit.

{ Comments on this entry are closed }




Small companies are being affected disproportionately by IRS actions to narrow the tax-revenue gap -the difference between taxes owed and taxes paid – per a recent review by the SBA’s Office of Advocacy. A Quantria Strategies study, underscored flaws in the overall estimation of the tax gap primarily as they relate to large corporations. “The […]

{ Comments on this entry are closed }




TV star Charlie Sheen has kept his name in the limelight in recent times, and now that Warner has fired him from “Two and a Half Men” Michael Cohn at Accounting Today is musing what it would be like if Charlie took the job overseeing tax legislation and accounting standards. Here are some of Cohn’s […]

{ Comments on this entry are closed }




As a small business owner, if you aren’t concerned about a tax audit, you should be.  An IRS audit can be a troubling experience  even if you’re completely prepared.  Make no mistake, your IRS auditor won’t be especially charming. Due largely to a humongous budget deficit, the government is trying to close a $300 billion gap […]

{ Comments on this entry are closed }




As a small business owner you have more far important things to do than to keep your own books. We can work with your CPA, CFO or other administrative personal to take care of your books for you, so you can get back to the job of running your business and generating profits! Each month […]

{ Comments on this entry are closed }




Business owners across the land gave a sigh of relief as an unpopular portion of the Healthcare Reform Act was repealed by the Senate two weeks ago.   Or was it? In a bi-partisan 81-17 vote, the so called 1099 requirement would have mandated that all businesses issue 1099’s to anyone, incorporated or otherwise, with […]

{ Comments on this entry are closed }




The essential principle of year-end tax planning is to lump deductibles into this year and defer income until next year. Of course, that cannot work in all cases. The correct strategy for your business is dependent depends on many factors, including answers these issues: – Does your company account on a cash or accrual basis? […]

{ Comments on this entry are closed }




Next year tax return preparers will need to start proving that they are competent under increased Internal Revenue Service rules. The first step in the new process begins in January when all paid preparers of tax returns must use a preparer tax identification number on all federal tax returns they file. Oversight eventually will include […]

{ Comments on this entry are closed }




California Small Business Tax planning is a process of looking at various tax options in order to determine when, whether, and how to conduct business and personal transactions so that taxes are eliminated or considerably reduced. Many Orange County and San Diego small business owners ignore tax planning, and don’t even think about their taxes […]

{ Comments on this entry are closed }