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Attaining and retaining clients is naturally a huge responsibility for business owners both large and small and can detract from other equally important elements of running a business, such as finances. While as a small business owner, you may be busy building up a solid customer base and maximising your potential to make money, you must remember to stay on top of your taxes, and ideally, stay one step ahead… Read More

There are several tax tips that owners of small law firms can take advantage of to keep the holiday and tax season, as free from stress as possible, and here are just a few: Be aware of your deadlines and be sure to meet them: One way of ensuring that you never miss a tax deadline is to employ the services of a tax professional, who will help you decipher… Read More

There can be multiple reasons for an individual or business owner not filing their taxes on time, and the following information seeks to show what might happen if you miss the deadline, irrespective of why you may have done so. However, the penalties that can occur when individuals miss their tax deadline, vary depending upon whether the taxes haven’t been filed, or they’ve been filed but not paid on time…. Read More

It can really pay to think outside of the box when it comes to totting up your tax deductions, and believe it or not, there are a few creative ways in which you can save yourself some money. That said, these potential deductions are not easy to qualify for, and you would be wise to consult a tax professional before taking any steps towards creative deductibility. Listed below are 4… Read More

Filing your taxes as a small business owner can be a daunting experience, and it’s not always easy to know who, or where to turn to for help and guidance. Many believe that the information published by the IRS is the definitive source of guidance for tax filing, but this may not be the case. The definitive rules for filing taxes can be found in the Tax Code, a document… Read More

Research has uncovered the widening gap between the amount of taxes that are taken from businesses in different countries, and the tax burden placed on business profits can be up to 3 times more in some countries. This serves only to highlight the disparities between ‘low tax’ emerging economies, and most ‘high tax’ developed nations. Pre-tax statutory profit: A business that has a high profit margin is often one defined… Read More