Starting out in your first small business can be an exciting and rewarding journey. As many seasoned small business operators know, the multi-faceted role of a small business [...]
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This is a guest article written by Michael Dolen, the president of Credit Card Forum. During this time every year, I always get asked by a good number of visitors on my site [...]
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The Subprime Mortgage Crisis that brought the global economy to the brink of disaster in the fall of 2008 has led to millions of foreclosures over the last 3 years. Due to t [...]
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QuickBooks Tip: Unless and until your business is swimming in cash, there will come a time that you have to make a big purchase and *gasp* get a loan. The horror. So now tha [...]
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QuickBooks Tip: Admit it. Bouncing a check is annoying and embarrassing. The bank charges a fee for every bounce, you rack up the fees and you have to tell people when to [...]
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It’s such an easy thing to do and yet our pride steps in and makes asking a simple question seem like lifting a 2 ton brick. Can you help me? I love when people ask me for he [...]
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At this point we have completed the initial review of the Balance Sheet and Profit and Loss statements in QuickBooks. So now it is a matter of double checking things from a d [...]
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- Balance Sheet and P&L Now that you have allowed yourself the time, you can take your time reviewing your Balance Sheet, Profit and Loss, and even your Statement Of Cash [...]
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The biggest problem we all face when it comes to QuickBooks and tax planning is waiting until the last minute. There are so many obvious reasons why it is better to do it e [...]
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E~file Your 2011 Tax Return: How to E~file Your Taxes Tax season is upon us. This means that you are either preparing a tax return by yourself or hiring a tax preparer to do [...]
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Hobbies such as sewing, woodworking, fishing, gardening, stamp and coin collecting (I build radio controlled model boats/ships) can make you money. Recently a client contacted me about taking her Photography to a new level. So lets look at this subject again. When that hobby starts to turn a profit, it might just be considered a business by the IRS. [...]
Guest post by Mariette Knoblauch of Ballard Beancounters In the economic chaos of the past few years, many people have turned to self-employment. If you have a home-based business, you may very well have a home office, and a convenient deduction on your federal income taxes. What makes a home office deductible? There are several [...]
Here are some guidelines to help determine if a vendor needs to be set up as a 1099 vendor. Who must file Form 1099? Persons engaged in a trade or business must file Form 1099 MISC when certain payments are made. A person is engaged in business if he or she operates for profit; thus, [...]
Why It Matters Millions of Americans use hobbies to relax and take their mind off work. But hobbies that turn a profit – such as sewing, woodworking, fishing, gardening, stamp and coin collecting – may actually be considered businesses by the IRS. So, when does a hobby become a business and how does that change [...]
Rob Teuber is an attorney with the law firm Weiss Berzowski Brady LLP and author of the tax law blog www.federaltaxlawforum.com. I deside to repost this as it would seem the information has been forgotten. Choosing the Right Representative to Help You with Your Federal Tax Problems. When you or your business is faced [...]
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