Posts Tagged ‘Best CPA Firm Southlake’
Business Taxes : Time to Consider Section 179?
Section 179 expensing can be a very powerful planning tool for small- and medium-sized business taxes when acquiring capital assets. While it doesn’t change the amount of depreciation you can take over the life of capital purchase, it can change the timing by allowing you to deduct your purchase in the first year you place…
Read MoreCustomizing QuickBooks Online Forms
Make a good impression on your customers by sending them well-designed sales forms. QuickBooks Online helps you create them. Your company’s “brand” can be composed of many things (and has many definitions), but it’s really about what pops into your customers’ minds when they think of you. Key components include your logo, your color scheme,…
Read MoreReap The Benefits of Hiring Your Child For The Summer
Hiring your children to work in your business can be a win-win situation for everyone. Your kids will earn money, gain real-life experience in the workplace, and learn what you do every day. And, you will reap a few tax benefits in the process. Before you decide if hiring your child is the right thing…
Read MoreConsider A Midyear Self-Audit
The word audit makes most of us uncomfortable. But by using auditing principals within your own business, you may quickly discover ways you can enhance your organization’s full-year performance. Here are some factors to consider. Prepare with a pre-audit. Perhaps the most obvious use of a self-audit comes to play as you prepare for a…
Read MoreFour Tips for Working Beyond Retirement Age
Four tips for working beyond retirement age Many people choose to work into their retirement years. If this is something you’re considering, here are some tips to make sure you get the greatest benefit from your efforts. 1) Consider delaying Social Security. You can start receiving Social Security retirement benefits as early as age 62,…
Read MoreDepreciation Made Easy for 2017
If your eyes glaze over when you read the word “depreciation” you are not alone. While depreciation is simply deducting the cost of business equipment over time, special tax provisions allow flexibility in how much can be expensed in a given year. The first solution is the Section 179 deduction. You are able to…
Read MoreDepreciation Made Easy for 2017
If your eyes glaze over when you read the word “depreciation” you are not alone. While depreciation is simply deducting the cost of business equipment over time, special tax provisions allow flexibility in how much can be expensed in a given year. The first solution is the Section 179 deduction. You are able to write…
Read MoreTax Planning By The Numbers: Updates for 2017
Are you ready to get started on your 2017 tax planning? Here are the numbers to use to take full advantage of retirement and other tax-advantaged savings. If you’re under full retirement age, the social security earnings limit is $16,920. That means if you collect benefits before your full retirement age and earn more than…
Read MoreDo You Need A Safe Deposit Box?
Though you may have thought bank safe deposit boxes no longer existed, these secure containers are still around, and can be useful for storing difficult to replace items, such as deeds, contracts, and your home inventory. Should you have one? Here’s what to consider. Peace of mind. Knowing that key original documents are in a…
Read MoreA Business Loss Can Mean A Federal Tax Deduction
When your business makes money, you pay income tax on the profit. What happens when your business deductions are greater than the income in a particular year resulting in a business loss? In that case, the result is what’s called a net operating loss, or NOL, and you may be able to benefit from federal…
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