Tax regulations change often. And these changes can have a big impact on your business. Stay informed by following IRS alerts, reading industry blogs, and having regular check-ins with your tax advisor. Being proactive helps you plan ahead and take advantage of any beneficial changes. 5.Keep ...
Many small business owners start as a Sole Proprietorship or LLC but then evolve. For example, you may have hired employees or ongoing contractors, and tax laws may have changed. Consult with your tax advisor to find out whether your business entity is optimal for your current operation. Switc...
Principal place of your business See IRS Pub. 587 for more information, and consult a tax advisor regarding your situation. If you're claiming a deduction for property taxes and utility bills and all the other expenses, hold on to those receipts in case there's a question about those dedu...
Writing for the Intuit QuickBooks blog in a post titled,10 Common Accounting Mistakes Small Business Make, authorJohn Ramptonstates, “Accounting is not just a tool for entering financial data in order to fulfill state and federal tax regulations or to tell you how much money is in the bank....
how to maximize the value of their business to their family" when transferring it, Finger said. A financial advisor can "step in and help create an 'advisory board' to assist business owner clients." This could include CPAs, tax attorneys, and investment bankers when selling the business. ...
Tax season. Every small business owner seems to wince, cringe, or flinch at those two words. Some even do all three. But, tax season doesn't have to be painful. Just imagine all those deductions you can get back for your business. Plus, with a few tips to streamline your taxes, you...
Growing 5 reasons customers aren’t buying Sales are what make or break a business, but unless you're a natural at selling, the process can feel daunting. Growing Speak to an advisor Contact your Small Business Advisor today Get advice
The Bottom Line Yes, a small business owner needs a financial advisor. By following the tips above, you should increase your odds of finding a financial advisor that’s a good fit for you.
can also provide information about different legal structures for your business, such as S Corp,LLCor incorporation. How you structure your business has long-term tax implications, so getting a second opinion from a financial advisor while you’re still drafting your business plan is a good idea...
When interest rates rise, it is natural to be weary about adding debt. However, re-investing in your business for long-term growth shouldn’t be ignored. Now is the time to lean on your banker, accountant and tax advisor to consider your options, which include: ...