Every year you probably say that you’re paying too much in taxes. You’re probably correct. Some of this may be because of your tax bracket, your business structure or some other factor, but it may also be because of the mistakes you’re making. Here are three, big, stupid mistakes I see small business owners make all the time with their taxes.
If you heard that millions of people tried performing surgery on themselves every year, you’d likely be aghast or at least perplexed that people would take such a chance at something so complex. Well, every year, millions of taxpayers decide to perform complex tax preparation by themselves and, while it may not put their life at risk, it is a perilous task.
Tax Strategist or Tax Evader? C’mon…admit it. You know someone who’s done it.
Ask anyone who’s been in business for more than 10 years and you’ll get the same reaction when you bring up small business taxes: “Please change the topic.” Most business people dislike talking about taxes because it reminds them of one of the most unpleasant aspects of being a business owner. Taxes are always the biggest expense we have and, unfortunately, often are the least controllable item in our annual budget.
James, a client of mine, has tried for years to set goals and carry them out. He hasn’t done very well despite having the best of intentions.
The holidays are a time of giving, but if you don’t know what to give it can make the season less festive and jolly.
The holiday season is supposed to be a time of comfort and joy. Yet, for many people it can also be a time of great stress. Employees have to juggle their professional duties with personal demands, such as shopping for gifts, hosting and attending holiday parties, cleaning and cooking.
To-Do lists should be an invaluable part of any small business person’s day-to-day. They don’t just help you get things down, they help keep you motivated and on track. Now, they seem pretty self-explanatory, right? Write down a task. Then do it. But sometimes they can quickly go from being useful to useless. A to-do list can too easily take a wrong turn and become exhaustive and exhausting. Here are five quick tips to help you get the most from your to-do lists.
You’ve built your team. You want to keep them motivated. Most importantly, you want to keep them productive. Thank goodness it’s the 21st century, because there are technologies available right now that allow your team members to do their jobs wherever they are.
Thinking of a starting up a new small business? Not so fast.