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Credit is essential for most businesses to grow, seize opportunities and fill in cash-flow gaps. In a recent Chase for Business survey of 2,600 business owners, aroun 70% reported that they use some form of financing. There's a range of credit options to choose from if you're a business owner. The trick is finding the …
Continue reading How to choose the right type of credit for your business
Tax season is approaching. But for many businesses, managing taxes can be a yearlong undertaking. In fact, there are many different types of deadlines you should be aware of throughout the year. 2019 Tax Calendar Here are the most important tax dates for businesses to know in 2019. 1099 Mailing Deadline January 31 If your …
Continue reading 14 Important Dates for Small Businesses in the 2019 Tax Calendar
It’s that time of year again: Tax Time. Preparing your taxes may seem like an annoying task that distracts you from running your business, but filing an accurate return can reduce the risk of paying fees and penalties down the road. What you need to complete this task is a checklist, which you’ll find below. …
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New tax rules are creating confusion Because of new laws many home related tax rules have changed and now require you to prove how funds are used to qualify for a deduction. This is catching many taxpayers by surprise. So when your mortgage company reports tax-related information to you and the IRS using Form 1098, …
Filing an income tax return after the annual April deadline usually isn’t the end of the world, but there’s a right way and a wrong way to do it. Here are some common mistakes to avoid if you’re filing taxes late. 1. Doing nothing in April If you plan to file your tax return late, …
Continue reading 6 Late-Filing Tax Mistakes You Need to Avoid
The IRS on Wednesday provided a safe-harbor method to determine depreciation deductions for passenger automobiles that qualify for the 100% additional first-year depreciation deduction and that are subject to the depreciation limitations for passenger automobiles under Sec. 280F (Rev. Proc. 2019-13). The law known as the Tax Cuts and Jobs Act (TCJA), P.L. 115-97, permits …
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The IRS on Friday posted a draft of a form that affected taxpayers will submit with their 2019 tax returns showing how they computed their qualified business income (QBI) deduction under Sec. 199A. Taxpayers who have QBI, qualified real estate investment trust (REIT) dividends, or qualified income from a publicly traded partnership (PTP) will use …
Continue reading Taxpayers will file QBI deduction computation with IRS next year
It's time to visit your books to make sure your business is adhering to newly implemented laws and regulations. The new year is a time for resolutions and fresh starts. It also represents the beginning of a new fiscal and tax year, meaning it’s time to visit your books to make sure you and any …
Continue reading 3 Crucial Small Business Payroll and HR Updates for 2019
Too many people downplay the threat of identity theft because it hasn’t been witnessed or experienced firsthand. This false sense of security can leave you exposed, especially during tax season. Here are some tips to keep your identity safe from scammers: Be naturally suspicious. Understand that there are people out there trying to get your …
For small business, filing taxes can be a big undertaking. Here are tips for staying ahead of deadlines with a proactive approach. As most of the country slogs through short days and cold snaps, it can be difficult to feel motivated enough to be proactive. And while the April 15 tax deadline still looms off …
Continue reading Accounting Tasks Every Small Business Should Do in January
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