Tag Archives: Taxes

Accounting Capitalization Policy

Technically the IRS requires businesses to capitalize (depreciate) all assets that have a life of longer than a year. Which might not sound that bad, but it would create a lot of headaches for smaller businesses trying to keep track of everything. Imagine maintaining a depreciation schedule with staplers, chairs, etc. Luckily the IRS recently […]

Quarterly Estimated Payments

Since 2014 is already well underway, I thought a quick primer on quarterly estimated tax payments would be appropriate this month. Who needs to make quarterly payments? Theoretically anyone who owes more than $1k in tax at the end of the year should be making quarterly estimates. The idea is that if you owe too […]

Retirement Plans

This month I wanted to give just a quick overview of some common retirement plans for small businesses, with a few pros and cons of each. This is certainly not comprehensive, but rather meant to give you a feel for some of the options out there. If you have any questions about these plans, including […]

Presidential Power

Once again, comedy gold from this week’s Onion.  A few choice quotes: Having won another four years in the White House, President Barack Obama will retain about the same amount of power as American multi-millionaire Mitt Romney, leading political scientists confirmed today. Though Obama still holds veto power, Romney’s massive wealth ultimately makes it much […]

1099s

It’s getting close to that time of year again.  If you’re a business owner, I would recommend starting to compile the list of people that you’ve paid for services throughout the year and figure out who will be getting 1099s.  They’re not due until the end of January, but you should have completed W-9s before […]

Expiration of the Bush Tax Cuts

Recently I’ve been getting asked a lot what the impact will be of tax changes in 2013, and how it will affect a given individual.  I know it can be frustrating to hear it, but unfortunately there still isn’t much certainty on what taxes will look like in the next few years.  Trust me, it’s […]