Category Archives: Taxes
1099-What? A Guide to the Various 1099s Small Business Owners Receive
As a new business owner, you may feel like you’ve stepped through the wardrobe into Narnia. When you were an employee, you had a group of people in your office that would take care of all the paperwork and tax … read full post
Glossary of Important Tax Terms
Aren’t you happy tax season is over? I am certainly am, although as a CPA I have a slightly different view of the tax season than most people. While it is a lot of work, I mostly enjoy talking with … read full post
Who has to pay quarterly estimated taxes?
Depending on what you do for a living and the types of income you receive, you may need to pay quarterly estimated taxes. As a general rule employees have income taxes withheld from their paycheck, but people with other types of income such as interest, dividends, alimony, rent or income from self-employment will often need to make quarterly deposits with the IRS for estimated taxes. read full post
Sign Up to Spring Clean Your Small Business Finances!
Do you find tax time especially frustrating this year? 1099′s piled in left and right, numbers didn’t add up, and wait… what’s this mysterious transaction for $488.82 from way back in January?
Not Finished with Taxes? File a Tax Extension
While all business owners will benefit from this information, we’ve written this article with sole-proprietor Schedule C filers in mind. Always contact your tax professional for advice regarding your individual tax situation. Not quite ready to file your taxes yet? … read full post
I Sold My Own Stuff on eBay. How Do I Account for That?
Are you feeling a pinch in your wallet? Everyone seems to be cutting back on expenses and purchases (including this author), and with the economy being a bit sluggish, people are looking for extra cash where ever they can get … read full post
Tax Implications of Hiring the Kids In Your Family Business
I still remember the moment fifteen years ago my wife told me she was pregnant. It was one of the greatest days of my life. After the initial feelings of exuberance, the trip to the doctor to confirm the results, … read full post
A New Approach to Old Documents
Today’s guest post is brought to you by Shoeboxed, the fastest way to turn a pile of paper receipts into digital data for effortless expense reporting and bookkeeping. There’s a lot of misinformation surrounding what to do with your old … read full post
April 15th Approaches – Outright Customer Care is Here to Help
April 15 is approaching and our customers have been busy getting their finances in order to file their tax return. Since January 2013, the Outright Customer Care Team has seen a sharp increase in tax-related questions and they’ve been busily … read full post