Is Your Writing Hobby Actually a Business?

/
Is Your Writing Hobby Actually a Business?

Is your writing hobby actually a business? And does it really matter? Absolutely! Especially if you want to save a bit of tax while you’re getting your business up and running.

So you’ve been earning a bit here and there with your self-published books or maybe bloggers have been paying you to write posts for them, but when you look at the money you’ve spent to publish those books or the tools you’ve paid for to run your freelance writing business, you realize you haven’t broken even, so you decide not to include your writing “business” on your taxes.

Read More

It's Tax Season! The Best Questions to Ask an Accountant

/
It's Tax Season! The Best Questions to Ask an Accountant

It’s that time of year when “accountants near me” is quite a popular Google search. But Google or the yellow pages aren’t always the best way to find the right accountant.

Before scheduling an accounting consult you want to make sure you know the right questions to ask an accountant or tax preparer.

Your Goals

Knowing what you want to accomplish by hiring an accountant can help you find the right person for the job. Some common goals of small business owners include increasing revenue, decreasing expenses, staying organized, paying as little tax as possible, and making sure all required tax returns are filed on time to avoid penalties and interest.

Read More

Want to Save Tax? Avoid These Costly Mistakes When Starting Your Business

/
Want to Save Tax? Avoid These Costly Mistakes When Starting Your Business

In my almost twenty years in the public accounting industry, there were a few questions I got asked almost every day: How can I avoid paying tax? How can I pay less tax? Why do I owe so much? Tax avoidance is illegal, and thank goodness, because there are a lot of essential government services taxpayer dollars pay for. The good news is, there are ways you can reduce your tax bill. For now, I’m going to focus on small business owners and the top three mistakes they can avoid to save tax.

Read More