It can be easy to overlook the importance of opening a business bank account, especially if your business started out as a side gig. Bear in mind that using your personal bank account for your business finances will make tax season a headache, and can even be risky,...
Tax season isn’t generally an exciting time for very many people. For most of us, it gives us a sense of frustration, confusion, and stress. For small business owners, taxes are even more complex. Particularly for new small business owners who only recently left...
Cars play a crucial role for many small business owners, with many self-employed individuals using them for much more than a brief commute to the office. As a small business owner using your personal vehicle for work purposes, you may be eligible to write off your car...
Among the many write-offs available to self-employed individuals and small business owners is the mileage tax deduction. Although similar mileage deductions are available for charity, medical use, or moving expenses, this tax write-off is largely used by those who...
There has been a surge of new business applications in the last few years since the pandemic. And new data from the US Census Bureau confirms that the surge continued throughout 2022. 5 million new US businesses were created in 2022, up 42% from the rate of new...
Business owners may receive payments for their goods and services through a variety of means, including third-party payment platforms like PayPal. In past years, some businesses have taken advantage of the IRS threshold for issuing 1099-K forms in order to avoid...
