Did you start a company recently and now you're wondering what the rules for paying yourself as a business owner? Entrepreneurs can choose to compensate themselves with a salary, draw or both. In other words, you can decide to give yourself a regular paycheck for your efforts or pay yourself based on the company's overall profits.
The IRS greets freelancers and other 1099 recipients with a wealth of business deductions, primarily in the form of Schedule C. This article provides an alert, exploring Tax deductions for a 1099 employee/freelancer likely to escape detection by 1099 recipients.
It's no doubt that meals for business gatherings that include meals can become quite expensive for any company, especially a smaller-to-midsized company. Although sometimes it's important to note that there can be tax write-offs for certain business-related meal expenses.
Excel is one of those products that is often misunderstood and misused. Although it is great for quick equations, reports, and other uses, many tend to use it as a one-stop accountant. However, this tends to quickly go awry - one wrong keystroke could lead to many, many errors. Unfortunately, Excel for accounting doesn't equal success - here are three reasons why.
When thinking about selling a home, taxes are not usually the first thing most people think about. However, taxes are something to consider because they do play a role once you've sold your home. Therefore, it's best to spend some time learning about the tax implications that accompany the sale of your home.