Understanding which of your expenses are eligible for deduction is obviously important when filing taxes. In general, country clubs (and other social club memberships) are not deductible, however that's not true of all elements that make up a membership.Publication 463 states any club
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
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
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
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
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,
Renting out a second home can provide a variety of benefits for homeowners in the position to do so. However, there are also a variety of things to consider when you're doing renting out your second space. Perhaps one of the most prominent of these is the deductions that you will be entitled to.
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