Opening a business banking account is a simple four-step process that can typically be completed in less than an hour if you have prepared beforehand. You can open a business bank account either online or in person, but doing so online will typically take longer and could require additional documentation. Before you open a business … Continue reading “How to Open a Business Banking Account”
Read MoreAccounting is one of the most crucial functions of a business, but today’s entrepreneur needn’t worry. Numerous accounting software programs are available to help manage the financial transactions of your business, with programs ranging from basic accounting to total management of your company finances (also known as Enterprise Resource Planning or “ERP”). The use of … Continue reading “The Best Accounting Software for Small Business”
Read MoreThe new tax law, called the “Tax Cut and Jobs Act” (TCJA), was signed into law on December 22, 2017 and is the largest overhaul of the US tax system since 1986. The bill is huge, and actually, in our opinion, makes many aspects of the tax code more complex rather than simpler. Some of … Continue reading “How the New 2018 Tax Law affects Small Business Owners”
Read MoreDid you know that TurboTax not only processes personal tax returns, but also does Single-member LLCs, Multiple-member LLCs, S-Corporations, and C-Corporations? You can record all your business expenses, losses, and profits while you’re filing your personal return. Once your returns are filed, you can download final copies and save them to meet IRS record-keeping requirements. … Continue reading “Do Your Last Minute Taxes Online!”
Read MoreSmartBiz.com has an article posted with 7 Tax Tips for Small Business: Small Businesses have an especially hard time when it comes to taxes. Here are seven tips that will help keep you focused and could help save you money. All MyNewCompany.com clients have access to the “My Account” section of our site, which contains … Continue reading “Tax Tips for Small Business”
Read MoreA timely subject for sure. Here’s a summary of the tax writeoffs for the self-employed! Of course one of the best tax writeoffs of all can be simply incorporating your business as a corporation or LLC. This may allow you to deduct many things that a simple DBA or Sole-Proprietorship may not with the added bonus … Continue reading “Tax Writeoffs for the Self-Employed”
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