Obama Seek Tax Breaks Legislation

Filed Under (Small Business Legislation and Notifications, Tax Information, Uncategorized) by admin on 11-06-2010

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President Obama is urging Congress to move fast to pass new tax breaks and lending incentives that would open up lines of credit for small businesses.

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Different Types of Credits to be Aware of While Filing Taxes

Filed Under (Education, Financial, Tax Information) by admin on 03-11-2008

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A good article from Business Week on the types of credits that might help as we move toward filing taxes this year.

Business Week has some pretty informative articles. you can visit them at :http://www.businessweek.com.

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What You Should Know When Hiring Contractors or Employees

Filed Under (Education, Tax Information) by admin on 31-10-2008

Tax time is slowly getting closer. A head start on knowing about some of the issues and tips is probably a good thing. So here is a video that will give you tips on what you should know when filing your taxes when you have hired employees or contractors during the year.

Just Click on this link:

What You Need to Know when Hiring Contractors or Employees

Why should I keep records?

Filed Under (Financial, Tax Information) by admin on 13-10-2008

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It’s hard to believe that October is here and it’s approaching tax filing time again. It just sends a quiver down my back to have to again go through all the material just to get ready. One of the bitter lessons I have learned over the years is that if you do not keep reasonable records you could be missing out on a lot of potential deductions and therefore paying more to good old Uncle Sam. Here are a few good reasons to keep records up to date:

Everyone in business must keep records.  Keeping good records is very important to your business.  Good records will help you do the following:

  • Monitor the progress of your business
  • Prepare your financial statements
  • Identify source of receipts
  • Keep track of deductible expenses
  • Prepare your tax returns
  • Support items reported on tax returns

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