Starting a business is great, right? You have a wonderful idea, an enthusiastic team, and a product or service that offers solutions to your target market. But as your business grows (again a wonderful thing to happen), managing money becomes difficult. This is where you look around, wondering who will save the day for your…
Running a small business is not an easy task. Catering to customers’ needs, looking out for marketing trends, and ensuring the best service or product in a heavily competitive market – who says it’s easy? Amidst all this, one very important part of doing business is often neglected i.e. record keeping. And while you may…
Starting a new business is exciting, but it does come with a long checklist – funding, hiring, marketing, and yes, of course, the good old taxes. For many entrepreneurs, tax season can feel overwhelming, especially if you have never done this before. Naturally, if you’re not prepared, you might miss important deductions, file late, or…
LLCs (Limited Liability Companies) are popular business structures across the US. Often, small business owners prefer to form an LLC owing to a wide variety of tax benefits offered by this structure. However, many small business owners struggle to understand the complexities of LLC tax brackets which in turn can impact on the finances of…
Business dinners, client outings, and team lunches have always been a part of growing and maintaining relationships. But if you’re not careful, these expenses can drain your budget without giving anything back at tax time. The good news? With the right approach, you can still make the most of meals and entertainment expenses without leaving…
Filling out tax forms can seem like a daunting task, especially if you’re not familiar with the process. But don’t worry, if you’ve recently had debt forgiven, Form 982 might be a key document for you, and I’m here to walk you through it. If you’re asking yourself how to fill out Form 982, this…
Scaling your Turo business from a single vehicle to a full-fledged fleet may seem challenging, but with a clear strategy and dedication, it becomes an achievable goal. Before you begin expanding, it’s important to understand what scaling means in the context of your Turo business. Scaling isn’t just about adding more cars; it’s about establishing…
Real estate agents juggle multiple expenses in the course of their work, from marketing properties to maintaining a home office. Luckily, the IRS allows agents to claim a variety of tax deductions, reducing their taxable income and keeping more money in their pockets. Understanding real estate agent tax deductions is crucial for maximizing savings and…
Starting a business is an exciting journey, but let’s be real—understanding the legal stuff can feel like trying to read an ancient scroll written in a language you don’t understand. One of the first things new business owners come across is something called an LLC license. But what exactly is it? Do you need one?…
So, you’ve been running your business as a sole proprietor, and now you’re thinking about leveling up by switching to an LLC? Smart move! An LLC (Limited Liability Company) can offer you personal liability protection, tax benefits, and more credibility in the business world. But before you dive in, you might be wondering: how do…
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