Friday March 20, 2020 Updates According to Treasury Secretary Steven Mnuchin, the tax filing due date has been moved from April 15th to July 15th. This is a change from the original plan which extended just the payment deadline and required taxpayers to file their returns or an extension of time to file by April …
Small Business Tax Resources Related to COVID-19 Read More »
Tax season is right around the corner, so it is time to get your finances together and get ready to file. While you are getting prepared to file for the year, it can be helpful to start thinking about what tax deductions for small businesses you can take advantage of. Here are the top 15 …
In the wise words of Benjamin Franklin, “Nothing is certain but death and taxes.” Preparing taxes may seem like just another burden thrown upon you as a small business owner. And while taxes are inevitable, there are some small business tax advantages you should prepare for throughout the year and leading up to tax season. …
Tax Advantages Every Small Business Owner Needs To Know Read More »
Hi, my name’s Greg Reed and I’m the Head of Tax here at SmartBooks. Today I want to talk to you about the hobby versus business rules and how this classification can impact your tax situation. Change in Tax Legislation Regarding Hobby Expense Deduction So with the passage of the Tax Cuts and Jobs …
Tax Saving Tip: Can You Turn Your Hobby into a Business? Read More »
The Tax Cuts and Jobs Act brings the most sweeping changes to the tax code in a generation. So, if you’re still unsure of how the changes will impact you or your business, you’re not alone. Our tax and accounting experts have waded through the legislation (so you don’t have to) and pulled together a …
The Tax Cuts and Jobs Act: What Small Business Owners Need to Know Read More »
With tax season in full swing, small business owners may be feeling some annual tax-related stress. How are the new tax regulations going to impact my business? Will I be facing a large tax bill this year? Will I be selected for an IRS tax audit? On the bright side, the IRS audits less than …
Five Things You Should Be Ready To Defend In The Event Of An IRS Tax Audit Read More »
