Tax Planning
Protect Your Tax Return With an IRS IP PIN
An IRS Identity Protection PIN (IP PIN) is a six-digit number that helps prevent someone from filing a fraudulent tax return in your name. Who can get one, and how to enroll.
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Notes on tax, bookkeeping, and running a small business. General information to help you ask better questions, not advice about your own situation.
- Tax Planning
Trump Accounts: What Parents and Business Owners Should Know
Trump Accounts are new accounts for children. Who qualifies, the $1,000 federal contribution, annual limits, and tax treatment for parents and business owners.
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Five Tax-Planning Steps Business Owners Should Take Before Year-End
Year-end is the last window to act on this year's taxes. Five steps for business owners, from reviewing the books to checking retirement-plan options.
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Do I Need to Issue a Form 1099 to My Contractors?
A business that pays independent contractors may need to issue Form 1099-NEC. When it applies, the W-9 to collect first, and the deadline.
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What Expenses Can a Small Business Deduct?
A business may generally deduct expenses that are ordinary and necessary. Common deductible costs, current versus capital, and why records matter.
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Five Bookkeeping Mistakes Small Businesses Commonly Make
Most bookkeeping problems start small and run all year. Five common mistakes to avoid, from mixing accounts to skipping monthly reconciliations.
Read more - Accounting Basics
Cash-Basis Versus Accrual-Basis Accounting
Cash basis or accrual? The choice comes down to timing, when income and expenses are recorded, and which method fits your business.
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Why Accurate Bookkeeping Matters for Tax Preparation
Accurate books make tax season faster, cheaper, and less error-prone, and give you better information for decisions all year long.
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Why Business and Personal Expenses Should Be Kept Separate
Separate business accounts mean cleaner books, more accurate financials, stronger support for deductions, and a clearer line around your entity.
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