An insufficient return on investment is your canary in the coal mine, it tells you when your business is failing and, with proper examination, why. Better still, it does this before all the money is spent and Tony Soprano is knocking at your door, calling in his loan.
What is Return on Investment for a Small Business?
If you have experience as an investor then your are familiar with return on investment as being the amount you earn on your investment over the amount that you paid for it. Read more
Not all accountants are the same. There are many different reasons why you should choose an accountant that is right for your needs and will suit your specific requirements. These could include whether you’re a sole trader, a company or partnership or just an individual wanting to maximise your tax return for the year.
You could also find that some accountants specialise in certain areas. Read more
As a small business or self employed tax filer, your chances of being audited are somewhat higher than someone merely filing a few W-2s. Part of the reason is that the IRS applies greater scrutiny to certain subsets of tax filers who may be more prone to tax fraud. But it also happens simply because filing taxes for a business is much more complex and there are more opportunities to make a mistake or trigger a red flag. Read more
First, the Internal Revenue Service wants you to file electronically. Not only for your benefit, but for theirs as well. They have released several articles and publications encouraging people to get on their computers and file their taxes on the internet. A whopping 67.18% of the tax returns that the I.R.S. Read more
Tax Return Extensions are one of the most abused and misunderstood concepts within the tax code. Today, I will dispel two of the biggest myths surrounding extensions. Have any other questions about extensions that are not covered in this article? Post your questions to the comments section and I will be sure to answer them!
Extensions Do Not Grant You Additional Time to Pay Your Tax
1) Tax Return Extensions only grant you additional time to file your tax return, they do not give you additional time to pay your taxes. Read more