Clarifying whether Starbucks purchases can be considered a business expense under IRS guidelines.
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Small Business Tips
Criteria for deducting clothing costs for client photoshoots, including what qualifies as a legitimate business expense.
Exploring if donations of time to charitable organizations can be deducted on your business taxes.
Details on the $25 tax deduction limit for business gifts per person or couple, and how to apply it.
How to deduct a computer bought last year if your business started this year, understanding IRS rules.
Explaining why the profit number in your accounting software may differ from your bank account balance.
Tips on how to accurately track mileage for tax deductions, including methods and IRS requirements.
Guidance on issuing 1099s for contractors paid via PayPal and understanding IRS reporting obligations.
How LLC owners should record personal paychecks for tax and accounting purposes, including salary vs. draw.
Essential tasks for new business owners, including legal, financial, and operational steps to set a solid foundation.