Small Business: Deducting Startup Costs
If you’ve recently started a business – or are thinking about starting a business – you should know that as an owner, all eligible costs incurred before you began operating the business are treated as capital expenditures. As such, they are part of the cost basis for the business. Generally, the business can recover costs […]
What Businesses Need To Know About the Excise Tax
Excise tax is an indirect tax on specific goods, services, and activities. Federal excise tax is usually imposed on the sale of things like fuel, airline tickets, heavy trucks and highway tractors, indoor tanning, tires, tobacco, and other goods and services. This tax is commonly included in the cost of the product. While the end […]
How Filing Status Affects Your Tax Return
A taxpayer’s filing status defines the type of tax return form they should use when filing their taxes. Filing status can affect the amount of tax they owe, and it may even determine whether they need to file a tax return at all. As taxpayers get ready for the upcoming filing season, let’s take a […]
Use QuickBooks To Get Your Finances in Order for 2023
Now that it’s the new year, it’s time for a fresh start in a lot of ways, including your bookkeeping. But you can’t look ahead very effectively if you’re not sure where you are now, so it is strongly recommended that you take stock of the state of your QuickBooks company file. Are you caught […]
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