WHY IS TAX PLANNING FOR SMALL BUSINESSES SO IMPORTANT? Simple! Reduce the amount of your taxable income Try to lower your tax rate Try to utilize any tax credits/deductions that may be available MAKE SMART YEAR-END DECISIONS While it may seem like you just finished dealing with your business taxes, as a small business owner
Running a small business isn’t easy. For many owners, you’re the chief, cook, and bottle washer – not to mention the bookkeeper, HR director, salesperson, and much more. We understand, it’s tough. However, there are many common mistakes that business owners make all the time that, if they can be avoided, can save lots of
When people start their own business, it generally initiates with the dream of implementing a love or passion into a livelihood of personal wealth and happiness. I say personal wealth, because this means different things to different people. Wealth comes in many different forms besides money, such as overall happiness and quality of life. However,
The Affordable Care Act (ACA) contains several tax provisions that affect employers. For example, the size and structure of your workforce – small or large – will determine which parts of the law apply to your organization. The number of employees you had during the prior year determines whether your organization is an applicable large employer for
To help health coverage providers, applicable large employers, and those assisting them in preparation for electronically filing the 2015 health care information returns understand the IRS ACA Information Return electronic filing process, the IRS has published: Publication 5165, Guide for Electronically Filing Affordable Care Act Information Returns for Software Developers and Transmitters. It outlines the communication
401(k) Contribution Limit Remains Unchanged at $18,000 for 2016 The Internal Revenue Service announced cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2016. In general, the pension plan limitations will not change for 2016 because the increase in the cost-of-living index did not meet the statutory thresholds that
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