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20 Essential Tax Facts for Small Business Owners

Ronika Khanna CPA,CA

Probably the most popular question posed to accountants and tax preparers (especially around this time of year) is “what types of expenses are deductible?”. The short answer is that a business expense is considered to be deductible if it has been incurred with the ultimate purpose of earning income.

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7 Big Tax Mistakes Business Owners Make & How to Fix Them

LyfeAccounting

More importantly, for you as the business owner, it would be nearly impossible to know where your business stands financially without segmenting your business and personal finances. You can open a business account at any major banking institution. Tax Mistake #2: Not paying quarterly estimated tax.

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