Category Archives: Be Tax Wise

Are You Using the Right Business Structure?

The business structure you use – sole proprietor, LLC, etc. – has tremendous impact on how your company operates and pays taxes. A business structure is simply an organizational framework. The IRS requires you to select one for your company, … read more

Don’t Procrastinate, Start Planning Now for 2015 Tax Returns

Even if your 2014 refund hasn’t hit the mailbox yet, it’s time to get a jump on your 2015 taxes.  Don’t wait until the end of the year to think about managing your taxes and minimizing the hit to your … read more

The Importance of a Proper Foundation

In addition to the water that evaporates while curing, concrete is made up of 3 fundamental components: sand, rock and cement. When mixed together in the proper ratio, and allowed to ‘cure’ over time, concrete becomes the ‘foundation’ for almost … read more

What You Need to Know About Estimated Taxes

It’s not just self-employed individuals who are required by the IRS to pay estimated taxes. There are numerous advantages to being self-employed. The top benefit that most full-time, must-report-to-the-office employees envy the most is your ability to establish your own … read more

W-9’s and 1099’s

2013 is coming to a close, which means taxes will be due soon.  If you are a small business it is important to meet with your tax professional BEFORE the end of the year to review your current accounting methods, … read more

Avoid a Problematice Audit with Complete and Accurate Books

While Tax law does not require businesses to maintain books and records in any particular way.  It does require them to keep accurate and complete set of books.  Businesses are also required to keep supporting evidence for those records (i.e. … read more

Advice on Claiming Your Home Office Tax Deduction

Note: This post was originally posted on Treasury’s blog and jointly authored by Treasury Deputy Secretary Neal S. Wolin and SBA Administrator Karen G. Mills. Today, many taxpayers who qualify for the home office tax deduction are not claiming it.  … read more

Get Organized for the 2013 Tax Season

Tax time is quickly approaching – are you ready?  Quality Accounting Solutions can help get your business books in order for your tax preparer. Before you hand over a mass of receipts and miscellaneous papers, follow these steps to get … read more