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Tag: Accounting

Deductions, accounting, tax savings, tax planning

How to Lower Your Tax Bill By Accelerating Deductions

Posted on October 5, 2021December 17, 2021

Do you know when you can claim a deduction and when you have to defer it? Claiming a deduction on a business return sounds pretty simple, right? All you need to do is look at your practice’s income statement and just enter it into TurboTax as a deduction… no questions asked. It’s a little more…

A Crash Course in Accounting for Online Entrepreneurs

Posted on May 14, 2021December 10, 2021

Every entrepreneur needs to understand basic accounting in order to responsibly grow their business. Without understanding basic accounting and what the numbers are telling you, it’s impossible to answer simple questions like: How much should I pay myself? Can I hire another contractor? Are my client projects profitable? Do I have enough working capital to…

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