Archive for the Small Business Tips Category

A sole proprietorship is the simplest and most common form of business structure. However, when tax season arrives, sole proprietors must understand their obligations and how to properly file their

The Internal Revenue Service (IRS) has announced that, effective January 1, 2025, the standard mileage rate for business use of a vehicle will increase to 70 cents per mile, up

a small business means wearing many hats, and one crucial responsibility is staying on top of your taxes. Estimating your small business taxes accurately can save you from unpleasant surprises.

If you use your car for business, claim vehicle expenses that can save you significant money. Knowing how to properly claim and maximize these vehicle-related expenses is key. Continue reading

Small businesses can often find ways to give back to their communities, and one way to do this is by donating services. However, many business owners may wonder: Can we

Receipts play a crucial role in tracking business expenses and ensuring you comply with tax laws. However, sometimes receipts go missing. Whether they’re lost, damaged, or never received in the

The Employee Retention Credit (ERC) is a refundable tax credit introduced as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act in 2020. It was designed to provide

When borrowing from your corporation, it’s essential to navigate the process carefully to avoid tax complications and legal issues. If you own a closely held corporation, you can borrow funds

California’s Unclaimed Property Law ensures that unclaimed financial assets are safeguarded by the state until the right owners or heirs claim them. Such assets can include dormant bank accounts, uncashed

Social Security tax plays a crucial role in funding retirement, disability, and survivor benefits for millions of Americans. However, with ongoing economic changes and demographic shifts, the question arises: how