In any economic environment, businesses typically have a percentage of customers who don’t pay their invoices. Here are some tax guidelines. Cut Your Loss If a customer or client owes your business money you can’t collect, you might be able to claim a bad debt deduction on your business return. You must be able to […]
Staying One Step Ahead of Tax Issues
The last thing you need as a small business owner is to have to spend time unraveling tax problems you could have avoided. There are many tax issues that can trip up small business owners — here are a few. Mixing Business and Personal Keeping your personal bank and credit card accounts separate from your […]
Don’t Miss these Tax Credit Opportunities
Tax deductions aren’t the only things to consider when looking for ways to reduce your tax bill. There are a number of tax credits that you may be able to claim. A tax credit reduces your tax liability dollar for dollar (and, in some instances, may be fully or partially “refundable” to the extent of […]
There are a Variety of Steps You Can Take to Benefit Your Next Tax Year
The tax year is pretty much a wrap. There’s not too much individual taxpayers can do to change the outcome. But there are a variety of steps you can take this year that will affect how your next year’s tax year plays out. Review Tax Payments If you customarily get a healthy tax refund, you may want […]
What to do When Checks go Unclaimed
Maybe it was lost, or got tossed out. Maybe the dog ate it. While it may be hard to understand how payroll checks can go uncashed, it happens. Unclaimed wages (and other property, such as commission checks, shareholder dividends, checks to vendors, and unredeemed gift cards) create problems for businesses — and revenue opportunities for […]
How to Decide Between Taxable and Tax Exempt Investments
Suppose you are considering two investments. One is tax-exempt and the other is taxable. Which should you choose? Make the Comparison The first thing you should determine is the taxable investment’s after-tax yield. If two investments are offering the same rate of return and are of equal quality, you’re better off with the tax-exempt investment. […]