Tax basis explained – what is tax basis explained for small businesses?
Just understanding your tax basis means knowing the value you’ve invested in assets or ownership interests, which determines taxable gain […]
Tax penalties avoidance – how do you practice tax penalties avoidance effectively?
Avoidance of tax penalties starts with proactive record-keeping, timely filings, and accurate reporting; you should track deadlines, retain supporting documents,
Small business tax checklist – what belongs on a small business tax checklist?
Over the year, your small business tax checklist should include: employer identification number and state tax accounts, organized income and
Tax compliance 101 – what should beginners know about tax compliance 101?
With a basic understanding of filing deadlines, allowable deductions, record-keeping, and tax classifications, you can avoid penalties and streamline your
small business tax compliance
Just because tax rules can feel complex, you can control risk by establishing consistent recordkeeping, classifying income and expenses correctly,
Tax compliance basics – what are tax compliance basics every business owner should know?
Just knowing filing deadlines, maintaining accurate records, classifying income and deductions correctly, paying estimated taxes on time, and complying with
Bookkeeping for taxes – what bookkeeping for taxes practices make tax season easier?
Most of your tax stress disappears when you adopt consistent bookkeeping: classify transactions accurately, record them promptly, keep digital receipts,
Document retention rules – what document retention rules apply to business records?
Most businesses must follow specific document retention rules that determine how long you must keep financial records, tax documents, employment
Irs recordkeeping requirements – what are the irs recordkeeping requirements you must follow?
There’s a set of IRS recordkeeping requirements you must follow to substantiate income, deductions, and credits: retain receipts, canceled checks,
Sales tax explained – what is sales tax explained in simple terms?
Over time you’ll see sales tax as a percentage added to the price of goods or services; you pay it