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Verified Business
Verified Business
It's April 8th. Raise your hand if you've filed your taxes. Anyone who raised their hand, you get a gold star, two if you estimated and paid throughout the year. Everyone else, read on.
How does depreciation work on business equipment? Depreciation is the government's way of rewarding your business for using increasingly cruddy stuff. Somehow, that makes sense.
If, like tens of thousands of individuals, you started a business last year, this year might be the first time you’ve ever needed to file business taxes. You might think that they’re just like individual taxes, but you’d be wrong. Business taxes are the Complete Works of Shakespeare. Your individual taxes are the Cliff Notes of “Where’s Waldo?”
As quoted in the Los Angeles Times (March 15, 2010)You can never eliminate that chance of being audited, because a perfect tax return will be suspicious, too (who files perfect taxes?) Company.com has ten ways to reduce your risk of an audit – we figure that most small businesses don’t have big accounts in the Caymans or Switzerland, and that if you’re reading this you haven’t run into significant tax problems in the past. Otherwise you'd know this stuff already.
Taxes can be the death of your business. Or rather, a failure to understand, or a willful underpayment, of taxes can be the death of your business. If you happen to be unlucky enough to get audited, or careless enough to underpay your taxes over a period of years, and you land yourself a $5,500, $20,000 or $150,000 tax liability, there are tax resolution services you can go to for help.
A good preparer also has the business acumen to tell you when you should make changes to the way you work. Anyone can run Quicken or use H&R Block automated tax preparation software. It takes brains to know how to use the tax information to glean business insight.
If you fully understand how to apply the dozens of different classification categories for depreciating fixed assets on a double-declining basis, feel free to keep your own tax records. Of course, if you do you’re probably an accountant, so that’s not exactly fair.
Which companies are the best known tax payment services? Do they offer services targeting small and medium-sized business?
Taxes bring joy to no one. For creative entrepreneurs, it can be the very worst part of their job. Companies are out there to keep your tax records and file your business taxes for you. Given the intricate and ever-shifting tax code, this may be one area in which a professional hand can really be valuable.
Paying taxes and filing taxes can be a daunting job. If you’re in business, then you know why accountants drive nice cars. However, before you sign up with any company offering tax services, it is essential to know what they offer and what you really need.
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