Fire, floods, hurricanes, earthquakes. When they happen, they can destroy buildings, equipment, and hard-to-replace data, and even injure or kill employees. It can take a business weeks, sometimes months, to resume operations after a disaster. Some businesses never recover. You can’t pin down the time or day when a disaster may strike your business. However, […]
Frequently Asked Questions about Excise Taxes
In this article, we discuss excise taxes, what they are, how they work, and who pays them. Read on to learn the fundamentals of excise taxes. What Is an Excise Tax? According to the IRS, excise taxes are “imposed on various goods, services, and activities.” That definition is vague, so let’s understand exactly what an […]
Clash of the Goals: Save for College or Retirement?
Retirement for you or college for your kids? Which financial goal should you focus on the most? Many parents feel conflicted because they want to help their kids get a good college education but know they need to save for their own retirement years. While it may not be easy to pull off, it’s important […]
Tips for Relocating Your Small Business
Is your business thinking of moving to a new location? No need to worry, we got you covered with some tips for the journey! Why are you relocating? It’s important that you first consider why it is necessary to change your location. If you’re certain about the move, you should be able to fully answer […]
The 5 Most Common Small Business Accounting Mistakes
Small businesses make accounting errors and oversights regularly. Here, we cover five of the most common small business accounting mistakes. Read on to see if you’re making any of these mistakes and how to avoid them in the future. 1. You don’t take bookkeeping as seriously as you should. Recording everything is an excellent rule […]
Mentoring the Next Generation to Take Over the Family Business
Many owners of small businesses would love to see a family member take over their business. If you have children, grandchildren, nieces, or nephews that you think might be interested in running the business in the future, you can help lay the groundwork for that potential transfer of ownership in several ways. Use the following […]
Business Owners: Keep That Shield Intact
You face plenty of challenges as a small business owner. Finding ways to protect yourself against lawsuits is a major one. You may be able to add protection by structuring your business as a corporation or limited liability company (LLC). Both these entities may shield the owners’ or members’ personal assets from the company’s debts […]
Hiring An Independent Contractor? How QuickBooks Online Can Help
Are you taking on a worker who’s not an employee? QuickBooks Online includes tools for tracking and paying independent contractors. The COVID-19 pandemic created millions of self-employed individuals and small businesses. Whether they chose to, or circumstances forced them to, these new entrepreneurs had to learn new ways to get paid and to prepare their […]
How QuickBooks Online Helps You Track Mileage
With gas prices so high, you need to track your travel costs as closely as possible. Consider getting a tax deduction for your business mileage. If you drive even a little for business, it’s easy to let mileage costs slide. After all, it’s a pain to keep track of your tax-deductible mileage in a little […]
Top Tax Benefits of Real Estate Investing
Real estate investing comes with significant tax benefits. Find out how to identify the top tax strategies for maximum benefit and how to use them to your advantage come tax time. As with all deductions, consult your tax accountant for the most up-to-date on what is/is not allowed regarding tax deductions related to real estate […]