News by Topic
- Search Marketing
- Email Marketing
- Loyalty Marketing
- Mobile Marketing
- Social Marketing
- Viral Marketing
- Trends & Ideas
- Internet Marketing 101
Top 3 tax tips for SMBs
Now that we're in to March businesses around the US are eyeing receipts, contracts and employee paychecks from 2012, looking for deductions and getting things ready for the Taxman. Small businesses, even sole proprietors are no different. Here are three tips that may help SMBs ready for tax season:
First, get those receipts in order. And while you're at it, start a filing system for 2013 receipts to make the transition simpler in the years to come.
Xero certified accountant Jody Padar suggests, "Establish and maintain an accurate system for storing your recipes. Today's cloud-storage technologies offer a gamut of easy and affordable ways for SMBs to keep track of their expenses. There are even accounting solutions such as Xero that have mobile receipt upload. One click from your camera on an iOS or android device and bid adieu to the crumpled receipt."
Second, broaden your knowledge of the Payroll and Healthcare Taxes
Third, take advantage of business beautification and/or home office deductions. There is an extension for 2013 that will allow businesses to deduct qualifying equipment or software upgrades, up to $500,000. Research this and find out what you should be upgrading now. Also, home office deductions can help many small businesses.
"Starting in 2013, the home office deduction offers a simplified form that caps the home office deduction at $1,500. The key words here are simplified tax form. Home office deductions can be confusing, complicated and a time suck. And, time = money for the small business owner, so this new form is a great option for those who choose not to spend the time calculating home offices expenses, depreciation and carryovers of unused deductions," said Padar.
- Top 3 annoyances for mobile shoppers
- Study: Black Millennials betting on themselves
- Top 3 tips to take Valentine's strategies year-round
- No age limit to looking for love online
- Goodbye second-screening, hello switch-screening
- Less than one-third of emails opened on desktop last year
- Ad Roundup: Platforms for sales, ecommerce
- Top 3 tips to get more from email on Valentine's campaigns
Featured White Papers
- Device of Choice for Online Shoppers & Buyers
Did you know that men shop and buy from mobile devices more than women? Being aware of nuances like this...
- 5 'Must Have' Tactics For Your 2016 Digital Marketing Plan
What are the 5 "must have" tactics that experts agree can help everyone's 2016 digital marketing?...
- Consumers Tell All, Part 1: Online Shopping Frequency
This report looks at how frequently online shoppers are making purchases....