Learn Your Business Obviously, to have a business at all, you need to have a product, service, or -- at the bare minimum -- an idea. And, for most businesses to succeed, you need to determine if it's something you plan on going all-in on or if it's becoming more of a hobby. Much like the
Services to Outsource to Scale Your Business
Most small business owners start their business with the intent to scale -- in many ways, it's show you know the business is proving successful. Even if you start your business from a hobby, if it's going to be sustainable, it needs to scale. To do this, you need to use part of the profits to
When a Client Refuses to Pay
For a small business owner or independent contractor, your business depends on your reputation and the client's ability to pay you, but if the client refuses to pay you, it often can leave you frustrated and feeling helpless, which is a common problem many business owners face. If this is a
Why Assets, like a Company Car, are Considered Nondeductible Expenses
A nondeductible expense is something you cannot claim when you file your taxes. Now, some people get confused as to what can and cannot be deducted, especially if they hope to get some money back. Some clients have incorrectly claimed something which resulted in issues including penalties and
Offer In Compromise Statute Of Limitations
Behold, the numbing world of tax law which can effectively bore and confuse many small business owners from across the country. One of the most talked-about subjects is none other than an Offer in Compromise Statute of Limitations granted to the Internal Revenue Service. Too much is provided which
Is Your Hobby Becoming A Business?
Most people don't struggle with filing a tax return. Even small business owners typically recognize what income they need to report, making the process fairly straightforward. Others, however, don't simply have a job or a business, but a hobby that brings in money for them. The question then arises,
The Benefits of Law Firm Accountants
A law firm needs a specialized CPA to ensure the legal practice can run smoothly. Law firm accountants are accustomed to the law firm's business structure, method of business, services, and highest risks. Having someone already well-versed in the field allows partners and attorneys to focus on their
A Deep Dive into Rental Property Tax Deductions
As a landlord, you are highly involved in looking for tenants to rent your property while at the same time ensuring that you provide the necessities to keep them around. That adds you money in your bank account. However, the IRS is always knocking to check on what you have earned, so you have to pay