Taxes Archives

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Giving Tuesday: Small Business Tax Breaks for Charitable Giving

Charitable giving is a great way to positively impact the world. However, small businesses may have difficulty finding room in their budgets for donations. Thankfully, you can get a tax break when supporting charities. Donating...

byDevin Partida

November 28, 2023

Make Filing Small Business Taxes Easier With These 5 Thoughtful Tips

Small business owners and startup owners have countless responsibilities which can make running and managing a small business hard work. When you add the complexity of filing taxes, it can be hard to stay organized...

byRapid Finance

February 13, 2023

5 Mistakes to Avoid When Filing Your Taxes

The process of filing taxes may be intimidating and difficult, and if you're not cautious, you might make a mistake that costs you. Every year, it's the little things that cause taxpayers to pay more...

bySharita Humphrey

February 8, 2023

Why the Beginning of the Year is the Best Time to Start a Business

The beginning of the year has always been a popular time to start a business. If you’ve been considering forming an LLC or incorporating, but are curious about the benefits of starting up in January,...

byJames Gilmer

January 1, 2023

8 Great Ways Tax Filing Benefits Your Business

Yes, you read the title right. Filing your tax return could potentially contribute something better to your business – and it’s the financial kind of betterment. Lest we think that only a certain group of...

bySharita Humphrey

June 9, 2022

What Entrepreneurs Need to Know About the Home Office Deduction

You may see your home office as the place you take important business calls, the place you meet new clients, the place you focus best on crafting your products -- but what about the place...

byChelsea Krause

May 6, 2022

Award-Winning Finance Expert Shares 5 Financial Musts Before Jumping Into Entrepreneurship

So, you want to start your own business — in which you are your own boss and you’re in control of your professional destiny. You’re mentally ready to become an entrepreneur, but the question is:...

bySharita Humphrey

March 7, 2022

Mistakes This Entrepreneur Made With Her Startup’s Finances (and How to Learn From Them)

Business owners are dealing with unprecedented times right now. Many entrepreneurs are struggling to keep their businesses afloat, with financial struggles as their main priority. Prior to this crisis, I began thinking about my own...

bySusan Guillory

February 1, 2022

4 Factors to Consider When Choosing a Business Structure

Structuring your business is one of the first—and most important—decisions you make in your entrepreneurial journey. Your business entity impacts everything from taxes to daily operations. But if you’re just starting out, you might not know...

byRachel Blakely-Gray

March 31, 2021

How President Biden’s Tax Reform Could Impact Your Small Business

Information about tax changes the Biden administration is considering have recently leaked, creating some big headlines in media. “First major tax hike since 1993,” according to Bloomberg. As a fractional CFO, my first reaction to any...

byLJ Suzuki

March 28, 2021

3 Dangers of an Unincorporated Business (and How Incorporation Can Resolve These Problems)

Often, one of the first pieces of advice an entrepreneur receives when they start a business is to incorporate or form a limited liability company (LLC). When you incorporate a business, you are able to...

byDeborah Sweeney

March 24, 2021

3 Key Benefits of an S Corporation Election

The deadline for S Corporations to file their annual tax returns is March 15, which means businesses with an S Corp election need to file Form 1120S and Schedule K-1. These forms, respectively, outline the...

byMyCorporation

March 10, 2021

How to Form an LLC in Michigan

Starting a business is an exciting journey. For many entrepreneurs, starting a business is their chance to take their product to market, to become part of their local communities and to start making income from...

byJames Gilmer

March 2, 2021

LLC or Corporation: Which Entity is Best For My Business?

Two of the most popular entity formations for business incorporation are limited liability companies (LLCs) and corporations. Both entities provide startup owners with certain benefits, and one of the biggest benefits is limited liability. This...

byDeborah Sweeney

January 19, 2021

5 Ways to Cut Business Expenses During COVID-19 to Remain Focused on Long-Term Growth

As entrepreneurs continue to navigate the uncertainty of COVID-19, many are focused on increasing sales; however, lowering expenses is equally as important when trying to achieve or maintain profitability. Now is the time to tighten...

bySteve Rafsky

July 29, 2020

What You Need to Know About Taxes for Your E-Commerce Side Hustle

E-commerce sales have been on the rise in the U.S. over the past couple of months due to the realities of the coronavirus pandemic. According to a new SpendingPulse report from Mastercard, U.S. online retail...

byChris Rivera

July 28, 2020

3 Things That Could Cost Your Business its COVID-19 Loan

The Senate approved an additional $60 billion in funding for the Economic Injury Disaster Loan (EIDL) program and $310 billion for Paycheck Program Protection (PPP) loans on April 21, 2020. It now heads to the...

byGerri Detweiler

April 23, 2020

WJR Business Beat with Jeff Sloan: Tax Day Extension (Episode 33)

Today's date, April 15, is always etched into our memories as Tax Day. But this year, amid the COVID-19 crisis, things are a little different. This year, the federal government has extended Tax Day out...

byStartupNation

April 15, 2020

The Benefits of Keeping Tax Records All Year Round

Although we think of tax season as that period between January 1 and mid-April, it’s an ongoing event. If you shift your perspective when it comes to tax records, you may find that not only...

byAnn Logue

March 14, 2020