Are you looking to replace Ol’ Betsy, but don’t want to pay an arm and a leg? Maybe your car broke down un-expectantly and repairs surpass the car’s worth. Even if you’re an entrepreneur looking for a cheap alternate way to buy a company car, here are a couple vendors to consider.

1. CALCULATE YOUR TOTAL DEBT

Only by knowing your total debt can you develop a plan to pay it down, consolidate it or possibly explore forgiveness.

1. Not separating personal and business expenses:

It is almost impossible for your Certified Public Accountant to know which transactions are personal and which transactions are business if you intermingle the 2. If your CPA has to try to identify which expenses cannot be deducted by combing through all your transactions, then you could be hit with a significant tax preparation fee. Small businesses should always reconcile their books every month to ensure all of their transactions are accurately recorded. Make sure you’re not overspending and saving for taxes. Maximize your tax deductions with planning regarding purchase of equipment, retirement funding, stock sales and investment back into the business.

Feeling a little sluggish at work lately? With deadlines, client interactions, and commuting, we can all feel a little sluggish and put self-care on the backburner. Here are some helpful tips to get back on track and help boost productivity:

While helping my clients file their taxes this past tax season, I came across some common mistakes during this process. Although this previous tax season has ended, it is important to keep in mind these helpful tax tips for next year.

Are you a small business owner who struggles to juggle aspects of your business? You have a vision but along with that vision comes managing employees, marketing, and accounting. Why not outsource your bookkeeping, accounting, and/or tax needs to a professional and get back to doing what you really care about.

Tax season is underway and many people anticipate receiving a large refund after filing. If you’re like many Americans, you too are awaiting your refund check. But is this the best way to handle tax withholdings? The answer is no. Upon filing, you should owe the IRS nothing, but you should also receive nothing. Receiving an income tax refund means that your withholdings are incorrect and the government has been holding your money throughout the year. How do you avoid this?

Surprise parties are fun. Tax surprises are not which is why year end tax planning is so important. The complexity of year end tax planning is affected by changes in your life such as; a change in marital status, having a child, significant change in income and many others. Taking time at the end of the year to review income other than regular wages like dividends and other investment income ensures that you will have adequate funds available to cover any tax liability.

Having a child or two in South Tampa is a joy that is unequaled by nothing else life has to offer. It is also an expense that is unmatched by almost anything else you will do in your lifetime. The IRS recognizes the both the importance of children and the expense and has special tax breaks that are available for South Tampa parents to help ease some of the financial burden.

QuickBooks is a great tool but like any tool if you don’t use it properly it’s going to cost you more to fix the damage done. New and existing businesses from the South Tampa area start using QuickBooks for accounting needs and unfortunately many of them learn the hard way that in order for QuickBooks to be an effective tool it has to be set-up and used properly.