Many individuals pay estimated taxes throughout the year. For many more, they may not know they can pay them as well and save money. If you’re not sure what estimated taxes are, they are a way for you to pay in for any taxes you may owe, that are not subject to payroll withholding taxes. […]
Should I Pay Estimated Taxes? Read More »
The end of the year is almost here and there is still time to do some tax planning for your small business. These tips will help you save in taxes and help keep more of your hard-earned money in your pocket. Bonus Depreciation Do you need computers, equipment, furniture, or other assets to keep your
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Are you a business owner? Do you work from home? If so, you may be able to qualify for some home office deductions! Let’s discuss so you can be prepared when you file your 2021 tax returns. Something to note, before we get into it further: employees are not eligible to claim the home office
Business Owners: Do You Qualify For Home Office Deductions? Read More »
Do you own a business, and if so, have you ever considered donating to a nonprofit? Donating is not only a “feel good,” but it can also provide you with a tax deduction and help your company in the long run. Tax Deduction Donating to a qualified nonprofit provides you with a tax deduction on
Giving Back Through Corporate Donations Read More »
Since many businesses have been impacted by the pandemic and may be affected by the upcoming election, this is an especially important year to implement year-end tax planning for your business. The Tax Cuts & Jobs Act (TCJA) and the CARES Act have provided many tax credits and deductions to consider. Depending on the outcome
Year-End Tax Planning for Businesses Read More »
Not only does working with local businesses benefit your community; it also can be better for you and your own business. While you may think using a larger payroll company is the way to go, there are many reasons why partnering with a smaller, local firm could be the better option. Customer Service Are you
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Business owners need to keep track of a lot of information, and staying up-to-date with financial records is an important part of that. Accurate financial records will help you understand the health of your business, and will also make it easy to ask the bank for a loan if you’re thinking about expanding. Make sure
Why Are Accurate Financial Records Important for Businesses? Read More »
Once you have your business set up and you’re ready to hire employees, you need to think about payroll – the way you will compensate these employees for the work they provide for your business. It’s important that you set up a system from the beginning, as it will help you stay on top of
Setting Up Payroll Read More »
This is a common thought that many business owners have. Bookkeeping is an area that some business owners put off until it becomes something that can no longer be ignored. For many, it’s neglected until that last day of tax season and then the bookkeeping must be done so that taxes can be filed! It’s
Should I Hire a Professional Bookkeeper? Read More »
More Year Round Tax Tips! Welcome back! In our last post, we started the lengthy checklist for year round tax preparation for your Lancaster, PA business and individual returns. It’s important to keep documents and records organized, year round. It will eliminate stress for you when tax season rolls around. It will also help your
Year Round Tax Preparation Checklist, Continued Read More »
