How to Deduct Your Home Office & Everything In It

Home-based businesses can seem daunting, but as a home-based or small business, you’re actually entitled to some amazing deductions on your home workplace. These deductions are available for homeowners and renters alike, and they can add a ton of money to your refund! Follow along as we demystify this process with critical information you need to save thousands on your …

The BEST Time to Start Your Taxes is NOW

Think it’s too early to start thinking about taxes? Think again! There’s no reason tax prep has to happen at tax season, and the smartest financial planners keep tax season in mind year-round. Here’s how you can take advantage of your time to get a jump on your taxes! Keep your files organized During the year, make organizing your paper …

How to Avoid Being Audited

Responsible tax filing is the duty of every citizen of the United States, and filing accurately can save you a world of headaches if the IRS decides to subject your business to an audit. Being audited is a pain, and small business owners, in particular, are at risk, so take a few steps to protect yourself and maintain good financial …

FINALLY! BIG Tax Relief for SMALL Business Owners!

Small businesses are a foundation of our country. Aside from providing income for thousands of earners across the country, small businesses have gone on to grow and become some of the biggest businesses in the world. Microsoft was founded with just a few people in an empty conference room with a shoestring budget, and Amazon was once a simple marketplace …

Supplemental Income

Are you in line for a bonus at work? Lucky you! But don’t count on the entire bonus amount appearing in your paycheck. We all know that federal taxes will be taken out for part of your bonus, and your state may want some as well. The same is true of other supplemental wages you receive, including overtime, vacation pay, back pay, …

The Success Factors of a Home Based Business

Starting a business out of your own home has unique challenges and benefits that you should weigh carefully before you begin. For instance, you can make your own schedule and work from home while enjoying lower overhead costs, but you’ll also face stretches of isolation and a higher tax rate with no benefits. Either way, starting a home base business …

How to Save for Retirement on a Small Income

If you have a limited income, saving for retirement can easily slip to the background of your financial priorities. But a small income doesn’t mean you can’t retire comfortably if you follow some basic tips to plan your financial future. Look into Government Programs There are some great programs available for working people that you may want to look into …

6 Home Based Business Tax Deductions You Didn’t Realize You Could Claim

It’s no secret that being self-employed comes with some steep taxes that you’ll need to account for when you do your yearly planning. But don’t worry! There are some great home-based business tax deductions that you can claim to help reduce the burden of your taxes. See if you’re claiming them all! 1. Business expenses Let’s start with an obvious …