Plan to Maximize Profit and Minimize Taxes Selling a business is a significant milestone—and a complex transaction that goes far beyond just finding a buyer and signing a contract. One of the most critical, and often overlooked, aspects of this process is understanding the tax consequences of the sale. Poor tax planning can turn a…
When it comes to reducing your taxable income, depreciation deductions are one of the most powerful tools available to business owners. By depreciating business assets over time, you can recover part of the cost through annual tax deductions, ultimately lowering your tax liability and improving cash flow. In this blog post, we’ll cover how depreciation…
Tax compliance is essential for every business owner, but even the most organized entrepreneurs can sometimes miss a deadline or miscalculate a payment. When that happens, the IRS may impose penalties and interest—which can quickly add up and put pressure on your cash flow. The good news? With the right knowledge and strategy, you can…
QuickBooks for Business QuickBooks is one of the leading accounting software choices for small to medium-sized businesses, offering a range of powerful tools to simplify finance management. Whether you’re just starting out or looking to streamline your current accounting practices, QuickBooks can provide the solutions you need to manage your finances more efficiently. At Tax…
The holidays are right around the corner which means lots and lots of hustle and bustle. The end of the year is in sight and the time to start thinking about the tax season is ahead as well. We would all agree that prepping for tax time can be one of the most challenging and…
Most people today find themselves relying upon online tax software programs such as Turbo Tax for the preparation of their taxes. Though these online programs can be extremely useful, they certainly lack the personal touch and experience of having tax professionals provide you with all your tax preparation services. Here at Tax Alternatives, our team…
Most small business owners will agree that taking on the challenge of running your own business can be extremely frustrating and overwhelming. There is a multitude of challenges with any small business and certainly having to manage your small business taxes proves to be anything but easy. From claiming employees to understanding deductibles, the challenges…
With the end of the year upon us, individuals and business owners alike need to start thinking about their 2022 tax filings. With the many changes in tax laws and rules this past year, the team here at Tax Alternatives stands ready to meet all your tax preparation needs. Our team of tax specialists is…
Outsourcing services continue to be popular with many small business owners. In the business world outsourcing has surely made its presence known and it is not about to slow down anytime soon. Here at Tax Alternatives, we take tremendous pride in providing only the highest quality outsourced accounting services to all our valued clients. We…
As a result of the pandemic, most workplaces all across the globe found themselves revising their office and work strategies. In an effort to remain functioning, many companies moved to remote working models with only those who were extremely essential actually reporting to their workplaces. With the subsiding of the pandemic the big question now…