accounting terms business accounting business tax Tax 
MazumaBusinessAccounting
DECEMBER 3, 2019
As we approach tax season, it is important to understand different types of tax forms, and why we need them. If you’re hiring a new employee, or trying to report your income tax returns, you have come to the right place! Tax forms are essential for all small businesses and must be filled out properly.
MazumaBusinessAccounting
AUGUST 26, 2021
If your business doesn’t turn a profit for 3 out of 5 years (except in specific industries, like horse racing) then it is classified as a hobby and you can no longer claim tax deductions against other revenue. Keep extensive files showing where you spent your money and how it was imperative to your business.
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