Determining whether or not an individual is an independent contractor or an employee is very important in terms of taxes required to be paid and forms to be filed for the individual as well as the company doing the hiring. In fact, if a company incorrectly identifies an employee as an individual contractor it could […]
Archives for October 2013
The Correct Time for Hiring a Bookkeeper or an Accountant
There are slight differences between a bookkeeper and an accountant. An accountant can help assess the overall financial picture of a company, offer strategic advice, and complete the company’s taxes. On the other hand, a bookkeeper assists with the day-to-day activities such as: entering and paying invoices in a timely fashion, cash receipts, and payroll […]
A Small Business Guide to Tax Deductions
It is always a good idea to track business deductions throughout the year, so they are not missed when tax time comes around. However, determining what can and cannot be claimed can be challenging. Here is a list to help: Travel and Meal Expenses Travel Expenses are 100% deductible Meal Expenses are 50% deductible, except […]