by Nolan Accounting | Dec 30, 2022 | Tax Laws
If your business owes taxes to the IRS after the filing deadline, you have tax debt. Even if you filed early and paid a portion of the bill, the remaining balance is considered tax debt. Many small business owners fear that the IRS will seize their businesses if they...
by Nolan Accounting | Dec 15, 2022 | Tax Laws
One of the best things you can do for yourself is to take a vacation. This will give you the opportunity to take a break from your routine and relax, allowing you to recharge. This can be a challenge for small business owners because you are responsible for everything...
by Nolan Accounting | Mar 31, 2022 | Small Business Accounting, Tax Laws
If you are a small business owner, one of the best ways to improve profits is to ensure that you are taking all of the small business tax deductions you are entitled to. This will decrease your taxable income, allowing you to hold on to more of your working capital to...
by nolanacct | Mar 14, 2021 | Tax Laws
Many individuals have chosen to run their small businesses from their homes. This is especially true since the pandemic hit in 2020. There are advantages and disadvantages to using your home as your workplace. Among the advantages are the tax deductions for home-based...
by nolanacct | Feb 7, 2021 | Small Business Accounting, Tax Laws
As a small business owner, understanding your federal, state, and local taxes is vital to your success. Tax planning will help you reduce your taxable income, lower your tax rate and utilize available tax credits and deductions. Preparing for tax season can be...
by nolanacct | Feb 7, 2021 | Small Business Accounting, Tax Laws
There are countless tax planning strategies available to small business owners. Some are aimed at the owner’s individual tax situation and some at the business itself. Regardless of how simple or complex a tax strategy is, they are all designed to accomplish one or...
