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To be successful in a business requires dedication. It also requires self-discipline to keep yourself focused on making your busines work. Time is money. And time spent on activities that are not a core part of your business is wasted money. You may profit by partnering with a CPA that will act as the financial guide for your business. Or you may decide that having someone else manage the finances of your business is simply more than you can aford. But don't make the mistake of assuming that just because you have a good business sense and skills in your business activity, that you also can research all the tax issues for your business. You need an accurate set of accounting books. You may be required by law to keep certain accounts accurate. You simply cannot be successful with haphazard financial records. And you cannot afford mistakes in your taxes; you should use competent help. But you also need to be aware of certain tax issues, and for that reason we have posted articles that should be of value to you. The secondary menus above will provide access to information on that specific topic. Miscellaneous articles are listed below. If you cannot find the information you are looking for, you may submit a question and we will do our best to both respond and post your question with its answer.
Each of the summaries below are a link to an article. Click on the summary to select it.
- Owning a business is great, but how do you pay yourself? It varies dependent upon the form of business. Mar 17, 2007
- Here are the mileage rates for 2007. Included are the rates medical, charity, as well as business use. Nov 3, 2006
- The provision that allows over $100k in capital purchases to be "expensed" is being extended through 2009. Sep 22, 2006
- If you have thought about getting into rental real estate, then you should attend one of our seminars. Here are some notes and the slides on tax issues from a recent seminar. Oct 22, 2005
- Health Insurance premiums are deductible for small business owners. A recent legal ruling helps clarify the policy ownership issue. Jul 21, 2005
- While the concept of "Gross Receipts" may seem pretty straight forward, it is not uncommon to over look an item or two when setting up the bookkeeping for a business. And then an unexpected item arises, and what about that? Jun 19, 2005
- Some of our best business ideas never seem to make any money. But how long can a business keep losing money? What happens if you keep showing a loss? There are definite rules, and there is a potential for a tax disaster if you wander outside the boundaries. Jun 16, 2005
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