Joe Harris 
For small business owners in the United States, comprehending the intricacies of start-up costs is not just advisable—it’s essential. These initial expenses can significantly impact the financial health of a fledgling enterprise, making it imperative to grasp their implications from the outset. In the US, the IRS allows business owners to deduct up to $5,000… Continue reading Startup tax deductions and it’s rules
Discover the ins and outs of income statements in 2024. Our comprehensive guide explains the basics and complexities, helping you understand this financial document inside and out.
As a small business owner in the United States, understanding tax deductions can significantly impact your bottom line. Leveraging available deductions can help you minimize your tax liability and keep more of your hard-earned profits. In this guide, we’ll explore 22 tax deductions tailored to small business owners that you can take advantage of to… Continue reading 22 Small Business Tax Deductions To Lower Your Bill in 2024
Form 8829: Expenses for Business Use of Your Home Form 8829 is a crucial document for individuals who operate a business or are self-employed and use part of their home for business purposes. This form allows taxpayers to claim deductions for expenses related to the business use of their home, such as mortgage interest, property… Continue reading Form 8829: Expenses for Business Use of Your Home
Tax season can be a stressful time for business owners, but if you find yourself needing more time to gather your financial documents and prepare your tax return, filing for an extension can provide much-needed relief. In this guide, we’ll walk you through the process of filing a tax extension specifically tailored to business owners… Continue reading A business owner’s guide to filing a Tax Extension in the US(2024)
A capitalization table, or “cap table,” is a financial tool that lists the ownership stakes in a company, including the equity and debt held by shareholders, employees, and other investors. The cap table also shows the value of each ownership stake and the percentage of ownership each stake represents. The cap table is an important… Continue reading What is a Cap Table?
As a business owner in the US, navigating the complexities of taxation and business structure is essential for maximizing profits and minimizing liabilities. One critical decision that many entrepreneurs face is whether to elect S Corporation status for their business. In this guide, we will delve into what the S Corp Election Form entails and… Continue reading Understanding the S-Corp Election Form
Starting a small business is an exciting venture, and one crucial decision you’ll need to make is whether to incorporate your business. In this guide, we’ll walk you through the process of incorporating your small business in Wyoming, offering valuable insights and step-by-step instructions tailored specifically for small business owners in the United States. Choose… Continue reading How to incorporate a business in Wyoming
As a business owner, you’re likely familiar with the importance of maintaining accurate financial records. Among the various tools at your disposal, the adjusted trial balance stands out as a critical component in ensuring the integrity and accuracy of your company’s financial statements. In this blog, we’ll delve into what an adjusted trial balance is,… Continue reading Understanding Adjusted Trial Balance[with case studies]
In today’s rapidly evolving job market, compensation extends far beyond just a paycheck. Non-employment compensation, also known as fringe benefits or perks, plays an increasingly significant role in attracting and retaining talent. While salaries remain a crucial factor, employees are placing greater emphasis on additional benefits that enhance their overall well-being and satisfaction. In this… Continue reading Exploring Non-Employment Compensation: Beyond a Salary