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Posts from February, 2014

  • The Difference Between Capital Expenditures & Expenses The distinction between capital expenditures and expenses may seem obvious. But the IRS may see it differently. There are capital expenditures and there are expenses. And most of the time, the line between them seems pretty clear to business owners come tax season. But there ... Continue Reading
  • Your Responsibility Regarding 1099s Not sending out 1099s can be costly. Here’s what business owners are responsible for. If you used independent contractors such as graphic designers, consultants, and attorneys, you are required by the IRS to send a 1099 if you paid them more than 600 dollars in the tax year ... Continue Reading
  • Taxes and Getting Married: 3 Things You Need To Do Sure getting married means you’ll more than likely change your filing status, but there are also some other administrative things that need to happen as well. Congrats on getting married! And now there’s some paperwork that needs to get done. Here’s a list of some steps you ... Continue Reading
  • The Tax Deductions From Homeownership If you bought a house or owned in house in 2013, there may be more deductions than you knew about. For itemized deductions, most people know that you can deduct the interest you pay on your mortgage. Here’s a list more deductions you may be able to take as well. Property ... Continue Reading