by Jackie Anthony | Dec 10, 2024 | Accounting, Blog, Bookkeeping, Business Taxes, Small Business, Taxes
For small businesses, making charitable contributions before year-end can help reduce taxable income, while also supporting causes that align with the company’s values. However, there are some rules and limits to keep in mind. Eligibility for Deductions C...
by Jackie Anthony | Dec 3, 2024 | Uncategorized, Accounting, Blog, Bookkeeping, Business Taxes, Small Business, Taxes
Contributing to retirement plans is one of the most effective ways to reduce taxable income while also building a strong financial foundation for the future. Here’s how you can maximize this strategy by year-end: Why Retirement Contributions Help: Contributions to...
by Jackie Anthony | Nov 26, 2024 | Accounting, Blog, Bookkeeping, Business Taxes, Small Business, Taxes
This one’s all about getting more bang for your buck when you invest in business equipment and other assets. Both Section 179 Expensing and Bonus Depreciation are powerful tax incentives for businesses to deduct the cost of “qualifying property” or equipment...
by Jackie Anthony | Nov 18, 2024 | Accounting, Blog, Business Taxes, Small Business, Taxes
If you are a business using cash-based accounting for tax purposes, this is one of the simplest options to implement – assuming your cash position allows for it! Basically, if you want to lower your taxable income for the current year, think about holding off on...
by Jackie Anthony | May 20, 2020 | Accounting, Blog, Business Taxes, PPP, Small Business, Taxes
We’re in the middle of May now and many companies are half way through the 8 week period during which they are hoping to gain full forgiveness on their PPP loan. We knew there were some quirks but heck, 75% on payroll costs if staffing remains the same and no more...
by Jackie Anthony | Jun 19, 2018 | 1099, Accounting, Blog, Bookkeeping, Business Taxes, Small Business, Taxes
It’s that time of year again and there’s less than 2 weeks left to get your business 1099s complete and submitted. January 31 is the deadline and there’s some hefty penalties for not getting there in time – for the 2017 Tax Year, missing that deadline could cost...
