Tax Resources

An integral part of your success in a startup business is making sure you’re in a good place from the tax perspective. You need to be able to get through that first couple of years without a heavy tax burden, and reaping the benefits of having a business loss. Once your company is turning a solid profit, things will change, of course.

Here are some important new business tips to keep in mind as you plan the tax strategy for your business:

New Business Tips- #1. The first and most important tax decision you make is your new business structure.

When you’re first starting a new business, you need to choose what legal entity your business will use. You’re looking … Read more →

As your business grows, it quickly becomes apparent that you can’t do everything on your own. There simply aren’t enough hours in the day to do all of the sales, marketing, payroll, bookkeeping and the actual work your company performs. It isn’t too long before a growing business needs to be able to hand off some business functions to someone else in order to keep growing.

One of the first areas to go is usually accounting services. Many small business owners simply don’t enjoy this task, and others just don’t have the time. One of the big decisions you’ve got to make is whether you want to hire an accountant or bookkeeper, or whether you want to use outsourced … Read more →

Part of running a successful business is recognizing which functions to do yourself, and which to hire out for. Taxes are one of the first areas that small business owners tend to look for additional help. You hire a tax accountant for one primary reason: you don’t want to pay more on your taxes than what is absolutely necessary.

Yet, the fact of the matter is that your tax accountant may not be doing the best possible job on your behalf. Most tax professionals don’t work proactively, and that costs you money at tax time. There are three reasons why some tax professionals don’t work proactively:

1. They don’t work on a year-round contract.

If you only meet with your … Read more →

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