With the regular 2018 tax season over, most of us are breathing a sigh of relief, but it doesn’t mean that we can slack off! Staying on top of your taxes is a year long process, but it doesn’t have to be a stressful one.

Whether this tax season was a breeze for your small business, or it was traumatizing and you considered the white flag, we have a way for you to keep your taxes in line and out of mind!

Estimates

How do you know if you need to pay quarterly estimated taxes?

If you are a sole proprietor, S-Corp shareholder, or self employed, you generally have to pay quarterly taxes.

If you will owe $1000 dollars or more in taxes, you should definitely be paying quarterly tax estimates.

Why do we pay quarterly and not just once a year?

This cuts down on penalties from the IRS. It also allows your small business to plan accordingly for four smaller expenses instead of one large yearly expense.

Withholding

If you are an employee or if you have employees, anot...

Tax season is many things, but no one describes it as fun. In our combined 25+ years of accounting and media experience we’ve seen the gamut of incredible and incredibly bad situations. Whether you’ve suffered from being unprepared, overwhelmed, or confused, we’ve been there with clients before, and we’re not going to let you go through it alone!

That's why we're going over some of the strategies we discuss in our free Tax Savings Guide.

Whatever the reason you dread tax time, we have ways that you can save yourself both headaches and money.

Tips to Save on Your Small Business Taxes:

Below are a couple of ways to help you save money on your small business tax return. Secure more deductions on your tax return and be less stressed in the process; it’s easier than you think! If you’re not familiar with the perks of good bookkeeping, you should check out this blog post breaking down exactly why it is so useful to your business.

Business vs Personal Expenses

It might see...

Consider Your Business name

A logo needs to represent your business, obviously! You’re going to want to have the business name somewhere in your logo. If the name is long, you might want to consider abbreviations or only part of the name.

You also have the option of using your design to show what your business is doing. You might not need a lengthy title to explain it.

A successful logo doesn’t have to convey a lot of information about your business. A successful logo helps people remember and quickly recognize your business instead.

Designing With the End In Mind

The most important thing to think about when designing your logo is where this logo is going to be displayed:

Will it mostly be in your emails?

Will you have it on business cards?

Will it be printed in advertisements or displayed online?

These questions are important because where your logo is displayed will affect what you can put on it.

The design rule of thumb is to always design for the LOWEST resolutio...

1. A Desk or Other Space

This may seem obvious, but you really do want a work space separate from your regular living space. Working from the couch can limit your productivity, and might not offer you the most comfort or the space that you need to be efficient! Which brings us to our next point…

2. A Good Chair

That’s right, where you sit MATTERS. Make sure that your chair fits your body! You want to have back support without cutting off the blood flow to your legs.

If you are particularly short or tall, we recommend sitting in a chair before buying it, so you know what is comfortable. You also have the option of picking up and exercise ball as a chair - they even make chair frames for them so you don’t have to worry about accidentally rolling away.

3. A Proper Computer Setup

Previous posts have suggested having at least a laptop and a second monitor; and here we’ll expand upon that. Whatever your typing on - you want it low enough that you’re not raising your shoulders...

Do you ever work from home?

Do you have a separate space at home designated for regular & exclusive business use?

Now just to be clear….. We’re not talking about the kitchen table or your guest bedroom!

We’re talking about a separately defined space in your home where you only work on your business.   If this applies to your business operations from home...  then you may be entitled to deduct the expenses for the percentage of square footage your home office occupies.

I was surprised to learn (and you may be too) just how much you can save…. The IRS says this tax deduction brings self-employed persons who qualify, an average tax savings of $3,000 each year!

Okay, so how do we get this deduction?  You can claim the deduction one of two ways outlined below....

Regular Method

You can deduct a percent of your actual expenses based on the portion of your home devoted to regular & exclusive business use.  Included in the deductible home office expenses could be:

• Combined Totals of
...

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1. Uninterruptible Power Supply (UPS)

A UPS is a continual energy source that provides emergency power when your main input source goes out. They provide near instant protection from power interruption, outages or surges, at least several minutes, allowing you to save data and shut down your devices.

They are frequently used to protect databases, sensitive work information, and general productivity, and have a large range of sizes and utility.

There are small and portable versions which are a great starter option. You’ll want to make sure you can at least plug your computer, monitor, and internet router into the UPS, allowing you to save your work in the case of a power problem. If your situation includes multiple employees, you’ll want to work at a UPS...