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Sherry S. Borshoff, EA

4 Big Things You Should Know About Cash Flow Management

4 Big Things You Should Know About Cash Flow Management

Cash flow is the HEART of any business. Small businesses, in order to be successful, are largely dependent on their cash flow, making it critical for any business owner to understand the impact, positive or negative, that cash flow has on their business. It’s crucial that you understand cash flow management if you are hoping

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Business Income Tax | What to Know for Small Business

Business Income Tax | What to Know for Small Business

Unlike individual income tax, most small business owners and entrepreneurs must pay business income tax. Some businesses are required to pay self-employment tax. This is generally reserved for those who are self-employed. Also, you may be required to pay estimated quarterly tax payments. These payments are due depending on the type of business you operate

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Tax Deductions | How to Save on Your Tax Return

Tax Deductions | How to Save on Your Tax Return

The Internal Revenue Service (IRS) offers many tax benefits for taxpayers to take advantage of during the tax season. Tax deductions are different from tax credits because they allow you to take the amount of the tax deduction from your taxable income. Tax credits, on the other hand, give you a dollar to dollar deduction

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The Best Tax Deductions for Your Business

The Best Tax Deductions for Your Business

It’s important to know the best tax deductions for your business. You can deduct the cost of many things as a small business. For example, for your business, you can deduct expenses related to your home office, such as a portion of your rent and utilities, office supplies, automotive expenses, insurance, business-related travel expenses, and

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7 Things the IRS Doesn't Want You To Know cover

7 THINGS THE IRS DOESN'T WANT YOU TO KNOW

Download our guide to ensure you know everything you need to and are prepared to deal with the IRS.