What The Tax Cuts & Jobs Act Means For Your 2018 Tax Return

Many small business owners are unaware of the new tax cuts and jobs act.
Small business owners need to acquaint themselves with the new laws as it will impact their 2018 tax return. For instance, one of the largest changes is in regards to itemized deductions. Businesses can no longer hoard receipts in the name of getting a tax deduction. The standard deductions have doubled up, thus eliminating the personal exemptions. The doubled deductions for married joint filers is $24,000; for singles, it is $12,000.

What Do The Tax Cuts & Jobs Act Mean For Small Businesses?

Large corporations continue to receive tax deductions on their income tax. The rate has decreased from 35% to 21%. For small businesses that are not listed as C Corporations (i.e. partnerships, hybrid LLC, sole proprietors, or the S-corporations), there was a reduction in their business income tax as well.

Small business owners now need to pay their business tax on their tax returns however. They pay the taxes at the same individual rate as any other person which means a 20% reduction. The law provides a 20% qualified business income deduction. The rule applies for the married joint filers who get an income less than $ 315,000 and individuals who get less than $ 157,500.

However when you have an income higher than the stipulated above you still receive deductions which vary. The variations rise depending on various factors such as your wages or occupation.

Other deductions include:

1. Dental And Medical Expenses

The tax laws lowered the threshold regarding the medical expenses deductions. Business owners now can claim itemized deductions they incur out of pocket whenever they exceed 7.5% of the adjusted gross income. The deductions only apply when one files the 2018 tax returns. It is not yet crystal clear as to whether the same rule will apply in 2019. The chances are that it may go back to 10% as it has always been.

2. Losses Due To Casualty Or theft

Previously, the laws allowed one to claim deductions on itemized property losses not reimbursed by insurance. The policy applied to the circumstances happening unexpectedly such as natural disaster, fires, or theft. The law allowed individuals to file until it exceeded 10% of the adjusted gross income.

The current legislation allows individuals to claim personal casualty losses for natural disasters declared by the president. The 10% threshold of AGI will continue to be applied.

3. Charitable Giving

The tax laws have always protected the people with a heart of giving generously to the charitable organizations. However, there have been some slight changes. The changes are with regards to the number of people who will be claiming the deductions. The deductions apply to married joint filers with $ 24,000 and above and to single fillers with $ 12,000 and above.

4. Home Mortgage Interest

With the new laws, you can claim deductions on interests up to $750, 000 as long as you are in the qualified residence loans. The rule applies to combined loans used on buying, building, and improving homes. Some of the restrictions imposed are those regarding interest claimed for lines of credit and home equity loans. Note that the breaks only apply when using the money for building and improving homes and not on personal expenses.

5. State And Local Tax

The state and local taxes mostly affect people living in New York, California, and New Jersey. In the previous system, one could take advantage of an itemized deduction called the state and local tax deductions (SALT). However, the breaks no longer apply to the extent they used to in the past. Now there is a $ 10,000 cap on the SALT deductions. The regulations adversely affect the residents in high tax regions.

How Can Small Businesses Save Money?

Do Not Hire Full-Time Employees

Most of the time, small businesses (and especially startups) cannot afford to keep full-time employees. The full-time employees have many needs including insurance, pension, and allowances. A way for a small business to save money is by looking for temporary employees. They can work for a few hours, and get paid their wages. It is not economical to hire employees when there is not much work to be done.

Try Bartering

The most important thing for small businesses is to conserve cash as much as possible. The habit helps a company to focus on its growth. One way is to monitor the business cash flow keenly and avoid excessive expenses. The enterprise can look for a tax advisor to interpret the new tax laws. The information helps in financial planning and conserving cash. Try exchanging goods for goods to avoid the expenses involved in making payments to and from place to place. The practice works for small businesses as it emphasizes growth.

Small Business Tax Deductions For 2019

Owning and caring for a small business can be as tough as it is expensive — especially if you pay more in taxes than you actually owe. Garrett Gunderson, a finance expert performed a small study on small business tax and found that a large number of business owners pay more in taxes than they should. While you are not expected to be a pro at business tax, it is important to know where you can save money so you can grow your business.

Here are a few ways to save this tax season in 2019!

1. Hold On To Your Receipts

Holding on to your receipts is extremely important because they show your shopping history and what you buy on a daily basis. A lot of items on your receipts can be deducted on your taxes. Depending on your business strategy and structure, there are certain deductions you can apply to all of your structures. Unfortunately, it can be hard to keep up with every receipt you get over the year since small pieces of paper can go missing or be misplaced.

A good way to keep track of your receipts is to take pictures on your phone and label them as “business receipts”. Other alternatives include using apps that will store and organize your receipts in one place. Many also have features that let you import photos of receipts, and forward email invoices.

2. Start Retirement Today

Start and pay for your retirement now so you can get the payoff later. A self employed individual’s taxable income can be lessened by putting extra money to a 401k account, and the money isn’t taxed unless money is taken out! Small business owners who are under the age of 50 can add up to 6,500 to a Roth IRA or a retirement account. Those who are older than 50 can add 6,500 to theirs.

3. Earn Money From Your Business Equipment

Section 179 gives small business owners the opportunity to avoid tracking depreciation by acting like the equipment as a business expense the year it was bought. There is a limit of $500,000 (as of 2018). Business equipment includes anything a business owner may need to keep things running from computers, laptops, furniture, cooking items and office supplies.

The section 179 calculator can help with finding out how much you can save by having the lump sum. Remember that you need to file a 4562 form to elect it as it won’t be automatically applied.

4. Hire A Family Member

When you hire a family member, you make it so you can take a business deduction for compensation paid to that person, this can lower your taxable income and you can even avoid taxes like FUTA and FICA.

5. Account For Carryovers

Unfortunately, some tax deductions or credits will not be fully used in 1 fiscal year but they can be used in the future and can keep carrying on. These things can include net operating loses, charitable contribution deductions, home office deductions, and capital loses.

You should track these or have a software for it so you don’t forget about years later. This is a great way to save and invest money!

Note: Do not sell your old equipment outright.

If you’d like to get rid of equipment or property that’s no longer needed, see if it would be better to leave it (a normal loss) or sell it as capital loss for tax deductions. A normal loss of business equipment is completely taxable. So see what the equipment or property would be classified as under section 1231.

6. Penalty Relief

Try to take full advantage of penalty relief if you are eligible. If you follow these recommendations, and occasionally with an accountant, you might still get in trouble with the IRS and be penalized. See if you qualify for relief.

Some penalties such as not filing for a tax return or paying too late are eligible for penalty relief. There’s also ways people can be considered for relief like people who attempted to follow the rules but were unable to due to life events that were not in their control or those who fixed the issue once they received the notice.

What is your favorite tax reduction that we listed here? What are some ways that you get tax deductions for your small business? Tell us in the comment section below and share this with other small business owners!

Why Does My Startup Need an Accountant?

entrepreneur doing taxes in personal office overlooking city

When most people think about startups and startup founders they assume that the best way both should operate is simply by bootstrapping as many things as they possibly can. In the start up world, bootstrapping is the common practice that encourages individuals to do as much a they can with very minimal cost. While bootstrapping is something that should be done while trying to build a sustainable companies there are some things that you simply can’t bootstraps and accounting is one of them.

From day one it is important that you know exactly how your money is being spent, where it’s being spent and how much is being spent and quite frankly if you’re bootstrapping everything else in your business you may not have time to keep your eyes on this sort of thing. Below we share just a few reasons why your start up needs to hire an accountant.

Financial Management

As with anything else, the sooner you begin practicing financial management, the better off you will be when you have a ton of money to manage. As startups it’s important that you learn how to handle your finances early. We see so many startups fail or wound up in legal trouble simply because they mismanaged their money so poorly in the early days of their business it became the norm as their business progressed. Do not buy into the misconception that you should only hire an accountant when you have a certain amount of money in the bank.

Saves Time

When most people think about finances they automatically go into a place of negative thinking. While finances are not always the most glamorous thing to talk about, outsourcing it will help you save a lot of time. Think about how much time you probably spend going to the bank to cash, deposit and withdrawal money from your account simply because you have to do other things first such as see how much money is already there. Additionally, consider how much money you spend on invoicing each month. If you hate dealing with finances, outsourcing them will lift a huge burden for you.

Helps Your Business Grow

One of the number reasons why small business growth is often stifled is because startup founders tend to focus so heavily on areas in which they don’t perform well that they lose sight of the areas in which they thrive in. If you really want to see your business go to the next level, considering outsourcing an area such as accounting in order to give yourself the opportunity to focus on the areas in which you are comfortable.

Your Business May Require an Audit

Every small business has nightmares about the possibility of having their business audited and in many ways that nightmare is valid. While not all small business are required to conduct audits but if you don’t speak with an accountant first you may not find out that your business has to do an audit until it’s too late. By hiring and account you are ensuring your records are not only compliant but that they are being properly regulated.

Your Budget May Be Falling Short

A recent study conducted by the Bureau of Labor Statistics stated that about half of all businesses will fail after five years of opening.  While there may be many various reasons as to why a company may fail, it can mostly be attributed to not having an accountant around to help you analyze your budget, catch errors or even accurately capture financials.

The Benefits of Outsourcing Payroll

Man buried under his payroll paperwork for his small business

Once you go into business for yourself, you discover just how much effort is involved in creating a small business. It can truly be overwhelming at times! From staffing, to equipment purchases, to taxes, there’s no shortage of headaches for a business owner to deal with. That’s why more and more business owners are choosing to outsource where they can. One of the ways you can save yourself a great deal of time, effort and money is by outsourcing payroll. Here are a few of the benefits of doing so:

You’ll save time – and time is money!

When you decided to start a business, chances are it wasn’t because you enjoyed poring over mounds of paperwork for hours on end. Nevertheless, that’s just what you may find yourself doing when trying to work out the finer details of your payroll. While it may have started off simple enough, as your business grew and expanded the payroll became more and more complicated. Every moment you spend ironing out the details of payroll is a moment you can’t devote to other business matters. Not only is this inconvenient for you, it can become downright costly. After all, your time is valuable! Any time you, or one of your valued employees, spends working on payroll is time you can’t devote to bringing more money in.

You’ll reduce errors – and save money that way, too!

Errors in your payroll can prove to be costly for your business. As you know, it’s not as simple as just paying your staff. There’s insurance, taxes (both state and federal) and a bevy of other financial considerations. If you make a mistake somewhere along the way, chances are you will shoulder a serious financial penalty as a result. For example, if you don’t calculate your taxes correctly, or if you are late on a payment, you can get hit with a fine. The easiest way to avoid all this hassle is by outsourcing payroll; put your finances in the hands of seasoned professionals and you’ll greatly reduce the chances of costly mistakes.

You’ll be a lot more adaptable

Part of what makes payroll so complex is its ever-changing nature. Tax laws are always in flux and your staffing needs are always changing too. Some weeks, your part-time employees will work many more hours than others; with every change, you’ll find yourself starting from scratch. A professional payroll service will not face this problem. They are constantly being trained in the latest changes to tax law and they’re also trained to handle a varying level of employee hours. Ensure your company can weather the ever changing business climate by outsourcing payroll.

A payroll service handles more than just paychecks

If you outsource to a reliable payroll company, they’ll do a lot more than just issue your company’s paychecks. Not only can they calculate the amount of money owed to each employee, they can also work out tax obligations for each individual. They’ll allow employees to designate a certain amount of each paycheck to a 401(k), should they wish to do so. A payroll service will also calculate how much your company owes in payroll taxes.

Outsourcing payroll

If, after reading this article, you are considering outsourcing payroll, we think that’s a great step to take for your business! Make sure you do the necessary research and contact any potential companies you are considering using. There are a few questions you should always ask. What is the cost of the service? What services will you get for that cost? How are taxes handled? Make sure to contact a few references, as well. Check to see if the service is reliable and if previous customers have been satisfied.

9 Reasons To Outsource Your Accounting Department

notepad saying your should outsource accounting vs hire

As an entrepreneur, you’re always looking for ways to cut costs and increase profits for your business. No doubt you have learned that managing a small business can be a real headache, with many challenges – some expected, some unexpected! – and you want to get a leg up whenever you can. One way you can do this is by looking for accounting services for small businesses. While you may think that outsourcing your accounting department will end up costing you more money, this doesn’t necessarily have to be the case. In fact, outsourcing can be a great way to save your small business time, money, and bring in extra profits. Here are 9 of our top reasons to outsource your accounting department:

1. You’ll Save Money on Training Costs

One of the biggest expenses incurred by any business is the cost of training; getting your employees familiar with all of their responsibilities, as well as software and other equipment, takes time and money. By hiring an accounting service for your small business, your accountants will come pre-trained and armed with expert knowledge.

2. You’ll Benefit from the Services of a Team of Experts

If you hire an in-house accountant, no matter how good they may be, they will still only be one person. A professional accounting firm will bring years of experience to bear, from a team of seasoned professionals; having extra sets of eyes studying your finances will also reduce the incidence of error, greatly improving your peace of mind.

3. You’ll Save on Software Costs

Another expense that many small business owners grit their teeth and pay for is the cost of the newest technology; after all, it’s important to always have access to the latest software, whether it be QuickBooks or other programs. Hiring an accounting service for your small business will save you from expensive yearly updates; they will always have access to the latest technology.

4. You’ll Free Up Time for Other Projects

The old saying, “time is money,” is an absolute truth – any time you spend trying to figure out your finances is time you can’t spend doing other crucial tasks. If you’re constantly poring over QuickBooks trying to keep track of every dime that comes in and out, you will have a lot less time to handle the other daily aspects of running a business. By outsourcing, you’ll have a lot more time to do those important jobs.

5. You’ll Reduce the Risk of Financial Problems

There are a lot of potential financial problems that can plague a small company. Everything from tax audits to theft can severely impact your bottom line. By having a team of professional accountants keeping track of your money, you will rest easy with the knowledge that your finances are being handled by an impartial group who won’t allow anything to get by them – or you.

6. You’ll Be Able to Make Better Financial Decisions

With a professional team of accountants handling your money, you’ll have access to whatever financial information you need at any time. You will never be unclear on exactly where your business is in terms of income and expenses, allowing you to be better informed when it comes to staffing, equipment purchases, and other major decisions for your company.

7. You Can Change with the Times

Accounting, like anything else, changes with the times and by hiring an accounting firm, you’ll be able to stay up to date. If you have an in house accountant, or handle your finances yourself, you will likely be stuck with the information you had when you were originally trained. By outsourcing, you’ll be able to always have the latest in information, technology, and fraud prevention techniques.

8. Outsourcing Even Helps the Environment

For many businesses, going green is another great benefit of outsourcing your accounting firm. Hiring a professional accounting firm will save you a lot of money on disposables such as paper, printer ink, and other sundry costs. It will also reduce your carbon footprint and benefit the environment.

9. You’ll Be Able to Grow Your Business

By outsourcing to an accounting company for your small business, you’ll be able to upgrade easily once your income increases. Many business owners find themselves defeated by their own success, as your business becoming more popular and busy can leave you and your employees overwhelmed. With an accounting firm, you’ll be able to meticulously track the growth of your business, and adapt as needed. Best of luck in your business ventures!

Top Tax Write Offs For Small Businesses

Chalk board featuring taxes, USD symbol, and piggy bank full of money indicating tax savings and write offs

Every small business owner knows that, come tax time, there are ways to save a fortune in taxes if you are clever. Looking for the right tax write offs for small business owners, however, can be a bit of a challenge and we’re here to help point you in the right direction. Here are a few of the top tax write offs for small businesses:

Travel Costs

If you have to travel for your business, you can almost always write it off as long as it’s distance travel. Local commuting, such as driving from your home to your office, generally doesn’t apply. However, other types of travel might, such as the costs of delivering items locally. But if you have to send someone from your business to a meeting across the country, the cost of your plane ride and hotel stay is almost certainly deductible. To find out whether or not your travel expenses can be deducted, read IRS Publication 463 in full. Make sure you keep a thorough documentation of all of your business expenses, such as mileage and airline receipts.


Any money you spend on utilities for your business is deductible. For small business owners, however, this can enter a bit of a grey area as you strive to answer the question of where your personal costs end and your business costs begin. For example, let’s say you work from home and have a landline to receive calls on. Is your phone bill then deductible if you take business calls? If you have only one landline, the answer is no. However, if you set up a second one solely for business purposes, you will be able to deduct the cost of that phone bill. Similarly, if you have a cellphone you use only for business purposes, you will probably be able to deduct it from your taxes.

Home Office

If you work from home, you might have a home office set up in one of the rooms. You can deduct the cost of anything in your home that is devoted solely to your business. This means that if you have a workstation in your bedroom, you cannot deduct the entire cost of your bedroom, but you can measure out the space around your desk and deduct the cost of your mortgage and insurance from that area only. You will have to divide the square footage of that space by the cost of your home to discover the exact amount.

Contract Labor

Often, small business owners don’t keep employees on staff for necessary labor, and simply hire contractors when labor needs to be done. Keep a thorough record of any contractors you employ, because the money you spend on them is usually deductible. If you pay any contractor more than $600 throughout the tax year, make sure they are given form 1099-MISC.


If you are self-employed, you are probably paying for all of your own health insurance costs. This can set you back quite a bit, but the good news is that it’s a tax write-off. If you are eligible for insurance from other sources, however, you will not be able to insure yourself and deduct it. Similarly, if your insurance costs add up to more than the net profit of your small business, you will not be able to write them off.


Business meals are 50% deductible, which means wherever you end up eating you will still pay half! Keep this in mind if you are trying to save money while also wining and dining prospective clients. Check IRS Publication 463 to see how to substantiate the expenses of meals; you will not be able to claim any deductions if you don’t.

Small Business Coaching: Getting Your Startup Started

Green monopoly house game pieces representing starting a small business

You have long dreamt about starting your own small business and, now, you’ve finally got the ball rolling! You have a great idea, and you’ve taken out a startup loan and are now working furiously to make your business a reality. But if a great idea, a little money and a willingness to work hard were all it took to start a successful small business, everyone would be doing it. The fact of the matter is, only about half of small businesses survive for five years! Many people look back on their attempts to start and run a business and wish they’d had more knowledge at the beginning. One way to help navigate the complex world of business is with the help of a small business coach. Here’s what you need to know about hiring one:

What Does A Business Coach Do?

Simply put, a business coach will help you get your business where you want it to be. If you are just starting out, this type of help can be invaluable as you will get assistance with every step of the process. Your business doesn’t necessarily have to be in its infancy to benefit from the help of a coach, either: you can simply be looking to grow an established business or expand into new territories. No matter where you are in your journey as a small business owner, small business coaching can help you reach your goals more quickly.

What Kind Of Coach Do I Need?

Depending on what needs you specifically have, there are many types of coaches out there that can assist you. Perhaps you run a brick-and-mortar shop and are looking into expanding into the online world; a social media coach can help you build your internet presence. On the other hand, perhaps you have been selling your wares online but have the goal of finally opening a physical storefront; a brick-and-mortar coach can help you achieve this goal. With the right coach, you can receive assistance in every aspect of running a business.

How Much Does A Business Coach Cost?

As any prudent business owner should be, you are most likely concerned with the costs of running a business and may worry about how much hiring a coach will set you back. This is a valid concern but beyond the scope of this article since prices vary so widely. Many coaches charge an hourly rate, which can be anywhere from $200 to over $600 depending on their experience and reputation. Others will look to sell you a package at a flat rate; this can include a number of hours of in-person or Skype sessions as well as work you can do on your own. As a general rule, small business coaching shouldn’t break the bank but should be enough of an investment that you take it seriously.

How Do I Find A Great Coach?

When you’re on the lookout for a great small business coach, there are a number of things you should keep an eye out for. As we’ve already mentioned, the costs and the specific type of coaching you need should be high up on your list; you will also want to thoroughly research any small business coach you are considering hiring. Ask for references and don’t be afraid to check them. Talk to other small business owners who have secured the services of the coach you are considering. You want a coach that will keep you accountable, holding you to any commitments you make. You will also want someone who will be honest with you! A good coach will always be positive, but not be afraid to tell you if you are potentially

making mistakes with regards to the direction of your business. Good luck with your search and with your business endeavors!

Cut Costs With A Business Accountant

Small business owner filing 1040 tax paperwork with money saved lining the side

Going into business for yourself can be a lucrative and rewarding venture. However, as anyone who has run a small business knows, it can also be costly. Running a small business comes with a wide array of expenses, not the least of which come from managing the finances. While you may believe that you can save by handling the money yourself, what this will really end up doing is taking up a large amount of your time that could be better spent handling other aspects of your business operations. The more time you spend trying to handle your company’s finances, the less time you can spend on other things; your time is valuable, and you’re trying to cut costs!

Once you are close to having your business up and running, it’s time to consider hiring a small business accountant. Many business owners balk at this idea, due to the fact that hiring an accountant seems like a costly step that they can avoid. However, if you take a step back and look at the grand scheme of things, you’ll find that securing the services of a small business accountant can actually save you quite a bit.
Here are a few ways you’ll save your business money by hiring an accountant:

When Starting The Business

A small business accountant can start saving you money right from the very beginning. One thing you’ll need to consider is your business structure. Will your business be best served by filing for sole proprietorship? Or are you looking for a partnership, or even to start a corporation? Choosing the right business structure for your particular line of work can be critical to saving money in the long run, and a qualified accountant can help you with this.

Once your business gets going, you will of course need to start a business bank account. As with choosing a business structure, you’ll have several options to choose from and your company’s financial future could be at stake. A credible, experienced accountant can give you a lot of help in this area.

Once Your Business Is Up and Running

After your small business accountant has helped you get your business up and running, it’s time to start thinking about managing the day to day finances. Choosing the right finance software can save you a lot of headaches when it comes to keeping track of your income and expenses; this is another thing your accountant can help you with. They can also help train you how to file taxes properly; for example, if your business makes use of independent contractors (as opposed to full on employees), they will need to be classified as such with the IRS. Having a qualified small business accountant can make tax season much less of a nightmare, and help you save money on unnecessary tax expenditures!

As Your Business Grows

Eventually, when all of your hard work pays off and your business begins to grow, you will still find yourself saving money with the help of a small business accountant. If your goal is to reach a certain amount of growth for the year, you will need to budget for that and your accountant will be there to help you create that budget. As your business grows, your costs will go up as you find yourself needing to hire more employees and buy or lease more equipment. Once again, a qualified accountant can be invaluable during this process, helping you to avoid spending any money that you don’t need to.

Hiring an Accountant

With all of the benefits that come along with hiring a small business accountant, now is a great time to start looking for one! Choosing the right accountant, however, can be the true challenge. You will want to vet any potential candidates carefully, making sure they have plenty of experience and all of the proper certifications for your area. Don’t forget to ask for references; you will want to speak to other small business owners who have successfully made use of your potential accountant’s services. Good luck with your future business endeavors!

Why Do I Need A CPA For My Small Business?

Business owner distracted from work with tax forms

As a small business owner, there is a lot you have to take into consideration. The day to day running of your business requires a lot of planning, from licensing and permits to leasing your location and registering all of your company trademarks. Needless to say, a huge part of running any business is the financial aspect, and many business owners find themselves asking the question, “Do I need a CPA for my small business?” Hiring an accountant might seem like something only bigger businesses do, but it’s something you should seriously consider no matter where you are in the growth of your company. Here are a few reasons why:

You Will Save Money

Of course, hiring a CPA isn’t cheap; it can be one of the bigger expenses you incur when you go into business. Even so, securing the services of a good accountant will ultimately pay for itself. First, consider how much time you will spend poring over the finances for your business. Every minute you spend trying to balance your books is a minute that you can no longer devote to other crucial aspects of running a business. If you’re spending hours each day working on tax forms, you aren’t bringing money in. Not only that, you can rest easy knowing that you have a financial expert working to save your company as much money as possible. Even if you yourself are financially savvy, you might find yourself spread too thin as a result of taking on every other job a business owner must deal with.

A CPA Can Help You Deal With The Unexpected

Running a business always come with an element of unpredictability. Especially as your business grows, you may find yourself dealing with problems you never considered. As your business grows, and you hire more employees, contract out more work, order more equipment, and generate more income, a talented accountant will help you to get it all under control. They will also help you deal with any unexpected financial curve balls that may come your way and threaten your business.

An Accountant Will Help With The Legal Aspects

Depending on a number of factors, including your location and the type of business you are running, the laws that govern your company can vary widely. For example, the tax laws you are bound to will depend on what type of business structure you have. Will you be the sole proprietor? Or an LLC? Are you working from home? Or do you operate out of a storefront? But even if you are the sole proprietor of the business, a CPA can help you navigate the tangled web that is local business law. Ultimately, you will need the assistance of someone who is experienced in dealing with businesses of all types and sizes. They can also assist you should you face the unfortunate situation of a lawsuit being filed against your company.

When To Hire A CPA

As a CPA can charge up to several hundred dollars an hour, it’s important to be responsible when securing the services of one. Make sure to thoroughly research anyone you are considering hiring, and ensure that they have all of the proper certifications that a CPA requires. While many small business owners worry that hiring an accountant will be an expense they can’t afford, or force them to relinquish control of certain aspects of their business, the truth is that having a great CPA can increase your savings and your profits while also offering you greater freedom to manage the other aspects of running a business. With all of these considerations in mind, the answer to the question, “Do I need a CPA for my small business?” is almost always YES!

HTW Post-Season News & Upcoming Small Business Webcasts

News Update Huddleston Tax CPAs Webcast
Huddleston Tax Weekly News

Now that we’re past our busiest part of the year, HTW is happy to announce that we’ll be continuing our previous trend of bringing topical, high-quality material to our readers on a regular basis. HTW would like to continue examining the contours of the sixteenth amendment for a bit longer; the reason for this is because we believe firmly that an understanding of this exceedingly important political act is vital to gaining a full picture of our whole tax edifice. But after we explore the amendment in a bit more detail, we’re excited to say that we’ll be moving on to other issues which should be equally interesting to our audience. We will explore more real estate cases, current tax cases, international issues, and plenty of other exciting things.

Small Business Webcast

We’d also like to draw our readers’ attention to two upcoming webcasts which will be hosted from our site, smallbusinesswebcast.com. The first webcast — The Tax Benefits of Real Estate Ownership — will be given by our CPA, Jessica Chisholm. Jessica has given this presentation previously and is well familiar with this specialized area. The second webcast — Tax Reduction Strategies for Small Law Firms — will be presented by our CPA, Steven Lok. Assisting small law firms is one of Steven’s specializations.

As always, these presentations are entirely free to attend. We hope you enjoy these webcasts and the many more entertaining articles HTW has in store!

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