Here’s an easy question: Do you need more 2021 tax deductions? If yes, continue reading. Next easy question: Do you need a replacement business vehicle? If yes, you can simultaneously solve or mitigate both the first problem (needing more deductions) and the second problem (needing a replacement vehicle), but you need to get your replacement […]
Archives for December 2021
2021 Year End Tax Planning
If you hire an employee for your Schedule C business, you can qualify for several valuable tax credits. Each credit is different, and certain limitations apply to all or most employer tax credits. Remember, tax credits are the best. They beat deductions. Note the difference below (using the 32 percent bracket): A $1,000 deduction for […]
Record Expenses in QuickBooks Online and On Your Phone
The money you spend to run your business must be recorded conscientiously for your taxes and reports. Here’s how to do it. You undoubtedly keep a very close watch on the money coming into your business. You record payments as soon as they come in and deposit them in your company’s bank account. But are […]