IRS Announces a Medical & Moving Mileage Rate Increase for 2011!

The Internal Revenue Service announced an increase in the optional standard mileage rates for the final six months of 2011. Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business purposes. In recognition of [Read More]

5 Ways Tax Planning Can Help the Average Joe

Many people don’t think they make enough to worry about tax planning, but what they don’t realize is no matter what your income level, tax planning can help you make adjustments that will significantly reduce your tax liability. [Read More]

Fast and Easy Cash Accounting….oh, it’s Accrual World

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Accrual Method or Cash Method Accounting? It’s one of the first questions you’re usually asked when setting up your accounting software and it can be one of the most puzzling. This topic is complicated and often confuses a lot of people (you are not alone if you’re [Read More]

Making Work Pay Tax Credit

Yes, we are back, rested and ready to hit the road running after a little break over the Holiday season! To start off the new 2010 tax year, I wanted to cover a topic that will affect most taxpayers in a positive way , the “Making Work Pay Tax Credit”. This tax credit [Read More]

New to Self-Employment Business Orientation: How to Avoid Tax Problems & Pave the Way to Success

Today people have more choices than ever before when it comes to making a living. Even those who keep their regular full time positions as employees are taking on side work as independent contractors and some are choosing to make the leap to full time self employment or [Read More]

Finding the Right Accountant to Help Build Your Business

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You know you need an accountant to help you figure out your financials and you’re worried about the looming possibility of being hit with a big tax bill in the spring. The problem is, you’ve heard horror stories from friends and family about awful accountants. So now [Read More]

Employee or Contractor, Which Will It Be?

Last time we went over some of the tax differences between employees and independent contractors and why it’s important to choose carefully. Today I want to discuss the method used to classify a worker as either an employee or independent contractor in an attempt to help [Read More]

Starting Your Own Business: Choosing Your (Tax) Words Carefully

“Small businesses create most of the nation’s new jobs, employ about half of the nation’s private sector work force, and provide half of the nation’s nonfarm, private real gross domestic product (GDP), as well a s a significant share of innovations.” -SBA 2008 [Read More]