Seven Steps to Writing off your New Yacht So, you want to write off your sailboat or motor yacht. Maybe you went to a boat show and a yacht broker told you it was possible, but you went home to your CPA, and they said, “It’s not possible” or “You can’t do that”. Despite …
October 2021 Reporting business expenses and assets at tax time is never cut and dry. The federal government offers business owners options for reporting tax deductions that can save your business money. Are you taking advantage of them? One overlooked tax deduction is depreciation. This relates to the decline in the value of your business …
Small Business Tip: How to Use Depreciation to Increase Your Tax Deductions Read More »
Quickbooks Online for businesses offers many advantages to streamline your tax reporting efforts. While maintaining in-house control of your books, you will also be able to receive assistance from accounting professionals. Here are some of the reasons why you should use Quickbooks to manage your business’s finances. Discounted Licenses for Clients We firmly believe that …
With this tax season behind us, it’s time to start thinking about next year. We know you have a lot going on and taxes are probably the last thing on your mind as a small business owner. But the truth of the matter is, getting organized and staying up-to-date on IRS requirements now and throughout …