Small Business Bookkeeping
You may be wondering how the newly passed Tax Cuts and Job Act (TCJA) affects you as a business owner. You may want to set up your business as an LLC, or you may also want to run your business as an S-Corp. Here’s the lowdown on how these business structures can offer significant savings when it’s tax time.
Keeping track of receipts for your small business is very important: it keeps you organized, keeps you on budget, and can be a big money-saver when you file deductions at tax time. The IRS is not a big fan of estimating your expenses. If you are going to claim a deduction, you’re going to need: When: The date of the transaction Where: Where you bought the item What: What the item was Why: What purpose it served in your business When, where, and what are generally found on a receipt, ...
Knowing where to start when setting up your small business is essential. Part 1 of this 3 Part Blog Series talks about the first 4 Steps you need to take when Starting Up YOUR Small Business. #smallbusiness #bookkeeping #accounting #taxes #filing #organization