What You Need To Know About Capital Gains

Capital gains are a fact of life for investors in both long and short-term investments. Even if you do not own stocks and bonds, however, you may owe capital gains. In fact, any capital asset that you sell for more than your “basis” is subject to capital gains tax. Although you may usually  prepare your taxes yourself, if capital gains enter the picture, you should consult an accountant. Understanding your tax liability will help you prepare for a possibly painful tax payment come April.

Planning A Career In Accounting? 5 Paths You Can Choose

If you’re in high school, this is the perfect time to start planning for your future. You’ll need a career that will provide you with sound financial security. If you’ve been thinking about accounting, you might be surprised to find out just how many career options are available to you. Here are four careers choices that involve accounting. Budget Analyst Every business requires an annual budget. In fact, it’s the budget that keeps a business operating properly.

Tax Tips You Can Use For Your Small Business

Accounting is a big part of owning a small business and it’s critical to have everything in order when it comes to tax time. The best thing that you can do as a small business owner is to sit down with a professional accountant to go over all your expenses and go over what you can claim as a tax write-off. Here are some tax tips that you can employ at tax time to help maximize your tax returns.

Payroll Service Questions Business Owners May Benefit After Having Adddressed

Paying your workers is one of the most important tasks that you must do to keep your business running, but this can be an extremely labor intensive task. Fortunately, there are payroll services that can dramatically reduce the work you must do to meet this requirement. Yet, if you have only recently realized that you need to streamline your payment process, understanding the answers for these two questions will help make it easier for you to decide to use these services.

Tax Deductions – Could Your RV Get You Some Money Back?

When tax time rolls around, you quickly begin scouring the internet looking for deductions that you may qualify for. If you purchased an RV this year, your purchase could score you some deductions on this year’s taxes. Sales Tax Deduction The sales tax on a big ticket purchase such as this is usually pretty significant. Well, the good news is, you may be able to reclaim some of the money that you have paid into the sales tax when you purchased your RV.

3 Tax Deductions And Credits You Didn't Know You Could Take

As tax season approaches, many people are wondering what they can do to save money. Luckily, there are a couple things you can do to make sure that you are keeping more money in your pockets. One of the best ways to do this to properly utilize your deductions. Here are a couple deductions that many people don’t know about, which causes them to miss out on great opportunities. 1. Medical Expenses

2 Accounting Tips For Small Home-Based Businesses

If you recently started a small business in your house, it is important for you to start out right with your accounting activities. Having a business at your home can be convenient, but it can be an accounting nightmare if you fail to take the right steps from the beginning. Here are two things you should know about this to help you get organized with your accounting tasks needed for your new business.

4 Mistakes To Avoid Making With Your Business Taxes

When you run a small business, everything is up to you, from hiring employees and managing insurance policies, to payroll and taxes. In terms of taxes, it is important that you understand how much to pay, when to pay, and how often. Avoid these common business tax mistakes. Using the Same Account for Business and Personal Use You should never combine your small business and your personal bank account. This is unfortunately a common mistake made by small businesses, especially when you have sole proprietorship.

Tax Season: 3 Things You Can Write Off for Your Small Business

Filing taxes for a small business can be a nightmare if you don’t have any accounting training. There are tons of tax loopholes and things you need to know as you process your tax claim. Here is a quick list of items that a professional accountant can write off to help you maximize your returns at tax time. Office Space When you own a small business you are legally entitled to write off a space to operate your business.