Small Businesses Can Benefit from the Work Opportunity Tax Credit

by Admin | Jul 19, 2022 | Business Taxes, Entrepreneurial

The Work Opportunity Tax Credit (WOTC) is a general business credit that is jointly administered by the Internal Revenue Service (IRS) and the Department of Labor (DOL). The WOTC is available for wages paid to certain individuals who begin work on or before December...

Taxpayer Bill of Rights

by Admin | Jul 14, 2022 | Business Taxes, Entrepreneurial, Individual Taxes, Tax Planning, Tax Scams

All taxpayers have a set of fundamental rights they should be aware of when dealing with the IRS. Explore your rights and our obligations to protect them. The Right to Be InformedThe Right to Quality ServiceThe Right to Pay No More than the Correct Amount of TaxThe...

How to Protect Yourself When Selecting Investors For Your Startup

by Admin | Jul 12, 2022 | Business Taxes, Entrepreneurial, Tax Planning

Any seasoned entrepreneur will tell you that coming up with an idea for a startup is ultimately the easy part of this process. Figuring out how you’re going to get the funds necessary to make that vision a reality? That part is a bit trickier. In fact, selecting...

The Right Accounting Method for Your Business

by Admin | Jul 7, 2022 | Business Taxes, Entrepreneurial

Every small business — whether a respected local mom-and-pop retailer, a startup tech company, or an online venture — has accounting and bookkeeping responsibilities, including selecting the accounting method that works best for them.  If you’re new to small...

IRS Announces Mid-Year Optional Vehicle Mileage Rate Increase

by Admin | Jul 1, 2022 | Business Taxes, Entrepreneurial, Individual Taxes, Tax Planning

With gas prices soaring it has been expected the IRS would increase the mileage rate that business owners can deduct for vehicle use instead of keeping a record of actual expenses. Sure enough, the IRS recently announced a 4-cent increase in the optional mileage rate...

With a Possible Recession Looming, You May Want to Review Your Cash Flow Process

by Admin | Jun 28, 2022 | Business Taxes, Entrepreneurial, Tax Planning

If you’re a business owner who has been through a recession before, you know that smart cash flow management is absolutely crucial. If you’re a new entrepreneur who hasn’t been through an economic downturn, you may be less familiar with how quickly your finances can...