We offer complete bookkeeping services for small businesses.
Monthly, quarterly and year-end Balance Sheets and Profit & Loss Statements are prepared accurately and timely for a broad range of small business clients.
Here are a few quick tips to help you reduce taxes
Open a separate business checking account. Many small business owners don't realize the complications that can arise from using their personal checking account to pay for business expenses. If business expenses are mixed in with personal expenses, the IRS may disallow them.Read more ...
|If you are disposing of property used in your business, you may want to consider a like-kind exchange to defer the taxable gain on the sale.|
New rules tighten your options
For the 2014 tax year, children, under the age of 18 who have unearned income in excess of $2,000,are taxed at their parent'shigher rate. At age 18. the kiddie tax applies unless the child provides more than 50% of his/her own support. The kiddie tax also applies to full-time studnets between the ages of 19 and 23 unless they provide more than 50% of their own support. Generally, unearned income includes interest and dividend income, capital gains, taxable social security benefits, and pension distributions.
|If you paid qualifying tuition and related expenses in 2016, you may be able to deduct up to $4,000 of the costs or qualify for a tax credit.|