So if you’re raising capital for your business, depending on the procedure you’re following, the SEC requires you to treat potential investors in certain ways. Sometimes you can avoid looking for Accredited Investors.
Many of us immediately think of our personal or family situation when we prepare for a disaster, but not the for emergency preparedness needed for our business. These same disasters affect business owners and can create even greater hurdles for entrepreneurial families to get back on their feet.
You can actually invest in real estate, promissory notes, precious metals, cryptocurrency, small businesses, and concert tickets, or raw land. Your broker may tell you that you can’t do this and it’s prohibited. They’re blatantly wrong.
The IRS consistently warns taxpayers to not get caught paying ‘employees’ as ‘sub-contractors’. But believe it or not, the IRS, may be the least of your worries. There are 7 deadly results that could occur by trying to call an ‘employee’ a sub-contractor when it’s truly not the case.
Partnerships are an amazing thing. So many businesses succeed because they are a partnership. However, if not properly structured and maintained, with lots of communication, they can destroy a business.
Wouldn’t it be nice if you could get a little help from Uncle Sam as well as a tax write-off for some of that pet food, vet bills, or even that big price tag at the breeder? Well, there might just be an option to save some taxes in the process.
There are several HOT deductions that many taxpayers don’t consider and just ‘leave money on the table’. Here are 6 under utilized write-offs that in my opinion should be a healthy line item on any legitimate small business tax return:
Remember the good old days when you could write-off 100% your new SUV or Truck under the 179 deduction? That was the wild wild west (pre-2006), and then we all became quickly familiar with the $25,000 cap on writing off these gas guzzling vehicles. However, the game has changed with possibly an unintended loophole under the new Tax Cuts and Jobs Act (TCJA). The silver bullet: Bonus Depreciation.
Things have changed in 2018 when it comes to writing off meals and food expenses in your small business. Entrepreneurs, have to reevaluate their budget for the food and dining.
There will most likely be a mix of travel, auto, meals, supplies, registration fees, or even marketing expenses. Thus, it’s important you track your expenses in a detailed manner and understand their differences.