As a small business owner, you know that setting the right prices for your products or services is 🔑 vital for maintaining profitability. 💰 In our latest newsletter, we will explore the importance of understanding your rates and pricing strategy, and how it can contribute to the success of your business. 🚀 Understanding pricing strategy …
Understanding Your Rates And Pricing Strategy For A Profitable Business Read More »
Are you a small business owner or self-employed? You may miss out on a valuable tax opportunity, the home office deduction. Let’s dig deeper into what a home office deduction is and how it can benefit you. What Can I deduct? 🤔Certain expenses can be deducted, including mortgage interest, insurance, utilities, repairs, maintenance, depreciation, and …
Home Office Deductions: Tax Opportunity For Small Business Owners And The Self-employed Read More »
One important decision you’ll need to make is whether to take the standard deduction or the itemized deduction 🤔. We’ll break down the differences between the two and help you decide which option is best for you. The standard deduction is a fixed dollar amount that you can take off your taxable income. For the tax year 2020, the standard deduction …
Maximizing Your Tax Benefits: Standard Deduction Vs. Itemized Deduction Read More »
As a small business owner, understanding tax deductions and tax credits can help maximize your profits. 📈 Tax deductions are expenses that can be subtracted from your taxable income, reducing the amount of taxes you owe. Examples of deductions include business expenses, such as rent 🏢, utilities 💡, and office supplies ✏️. On the other hand, tax credits directly reduce the amount …
20 Popular Tax Deductions And Tax Credits For 2023 Read More »
🚌 School may be out, but taxes are a year-round concern 😟. As a working parent, you may need child care during the summer ⛱️ months. Did you know that your child’s care 🤱🏻may qualify for the child and dependent care credit? Here are some important requirements to keep in mind: If you’re married💍, both you and …
Summer Break. Taxes planning for your kid’s summer and tax implications. Read More »
Are you ready to learn how to travel for business and save money on taxes?🤑🙋🏻🙋🏽♂️ Raise your hand if you’d rather explore the world than give your hard-earned cash to the IRS. I see those hands up! 👀 Well, buckle up because I’m about to show you how to do just that.First things first, when it comes to …
Travel Smart, Save Big: Business Travel Tax Write-Offs Made Easy! Read More »
Hey! Running a business can be demanding and overwhelming🤯, Often requiring long hours, constant decision-making, financial pressures, and the need to wear multiple hats.⌛🤠 Entrepreneurs are passionate about their businesses and often pour their heart and soul into their work.❤️ However, this level of dedication can lead to neglecting self-care and work-life balance, ultimately resulting in burnout.🔥 Several factors contribute …
Poor cash flow management is a leading cause of business failure, but modernizing back-office processes can reduce payment time and help with cash flow issues. Improving Cash Flow, One Change at a TimeTo reduce payment delays from clients and vendors, asking for payment deposits at the beginning of a new business relationship is effective 🤝🏻. …
The IRS only contacts taxpayers via the United States Postal Service The IRS annually releases the “Dirty Dozen,” a list of tax-related scams that become more prevalent during tax season. These scams put people at risk of losing money and compromising their personal information. It is recommended that individuals never share sensitive personal information over the phone, …
The IRS Issues Update to the Tax Scams To Be Aware Of For 2023 and Beyond Read More »
Small business owners 👩🏻💻 can maximize profits by taking advantage of tax deductions 🧾. These savings can be invested back into the business for growth. Here are 10 important tax deductions to consider, based on my experience in tax coaching 👩🏻🏫. 1. Home Office Deduction 🏠To qualify for the deduction, the home office must be used exclusively for work purposes …
Tax Deductions Every Small Business Owner Should Know Read More »