Tips To Help You Get Your Books Ready For The First Tax Time As A Sole Proprietor

Posted on

If you are the sole proprietor of a new business this year, it is vital that you keep excellent records and prepare for tax time throughout the year. You should strive to file your taxes as soon as you can after the filing deadline so that you have that out of the way for the year and can use what you ended up paying in taxes to help you estimate your taxes for the next year.…

Read More »

Using Accounting Software To Perform Payroll Preparation In-House

Posted on

Businesses of all sizes must comply with regulations concerning payroll taxes. Many companies rely on a professional payroll service to help carry out their tax obligations. With the assistance of a certified public accountant (CPA), business owners can usually realize cost savings by moving the responsibility for payroll preparation from an outside firm back to the company. Like many other aspects of accounting, payroll preparation is well suited for automation. The frequency of required tax deposits is dependent on how quickly the deposits accumulate.…

Read More »

Easy Ways Real Estate Agents Can Lower Their Taxes

Posted on

Working in real estate can be a great way to work for yourself and have more flexibility while making a good income. But if you’re not careful around tax time, it can be a costly way to earn money. Between regular personal income taxes (both state and federal) and self employment taxes, you can lose between 15.3% and 54.9% (at the highest tax bracket of 39.6%) to the tax man. So, how can you reduce this number as much as possible?…

Read More »