All Posts in "Financial"

Corporate Tax Planning Advice

As a business owner, you know that your day-to-day responsibilities include making sure your employees are up to date on their training, scheduling and organizing payroll and other essential tasks. But do you know how to plan for taxes? It’s important to think about the tax implications of your business decisions because every year, businesses pay a combined $100 billion in corporate income taxes. Those dollars would go a long way toward funding infrastructure, education and programs for all Americans if they were not diverted into government coffers.

Talk to your accountant or tax advisor.

A good accountant or tax advisor can help you identify deductions and other tax planning opportunities. They may also be able to assist you with business finances, personal finances, and other areas of your business.

Make a list of your business expenses and income.

  • Keep a record of all business expenses.
  • Keep a record of
… More >>>
Harvey Olsen by — January 15, 2023 in Company Business
Tax Planning For Small Businesses

Planning your taxes is a year-round activity, but it becomes particularly important at the end of the year. As you prepare to file your small business tax return, here are some tips for maximizing your deductions and minimizing your tax liability:

Filing Your Business Tax Return

The importance of filing your business tax return

The first step in tax planning is to file your business tax return on time. If you don’t, the government may impose penalties and interest charges. This can add up to thousands of dollars over time, depending on how late you are in filing your return. In addition, if you don’t file a complete and accurate return (or even if you do), there could be additional costs associated with having to amend or correct it later on down the line when it’s too late for them not to catch any mistakes!

Keep records for future reference… More >>>

Harvey Olsen by — January 10, 2023 in Company Business
Tax Planning For Business Owners

Taxes are a major part of doing business, but it’s important to keep in mind that taxes are not one-size-fits-all. There are many different types of businesses, each with its own unique tax situation. Each year, there are also changes to personal tax rates and adjustments to business tax credits and deductions. In this article, we’ll discuss some general strategies for planning ahead when it comes to your business’ tax obligations.

Business tax planning is a year-round process.

Tax planning is a year-round process. You should be thinking about tax issues from the time you start your business, through its growth and maturity, to its eventual sale or liquidation.

Tax planning can be especially important for new businesses because of the so-called “momentum concept”–that is, if you are in a higher tax bracket when you start your business than when it becomes profitable (or vice versa), the difference in rates … More >>>

Harvey Olsen by — January 4, 2023 in Company Business
What You Need To Know About Startup Financing

Before you can start a business, you need to understand the financing options and how they work. There are many different ways to fund your startup, so it’s important that you understand how each one works and what types of financing may be available to you.

What you need to know about startup financing

Startup financing is a way for new businesses to get the money they need to start up. It’s not the only way to start a business, but it is one of the most common ways. How much money you need depends on what you’re going to do with your company and how much time you have before launch day.

What are startup funds?

Startup funds are the money you need to start your business. They can be in the form of a loan, equity investment or a combination of both. Startup funds can come from friends … More >>>

Harvey Olsen by — December 25, 2022 in Company Business
Preparing For Financial Failure

It’s no secret that the odds of startup failure are high. According to a report by CB Insights, 90% of startups fail within the first 18 months and 97% fail within five years. When you start running a company, it’s easy to feel like you’re invincible, but the reality is that there are many risks associated with starting a business and even more ways for things to go wrong. It can be difficult to predict how those problems might arise or how they will affect your business – which is why it’s important to plan ahead when it comes to protecting your finances:

Know your success rate.

Before you start your business, it’s important to know your failure rate. You might be surprised at how high it is.

A study by Portland State University found that only 2% of tech startups make it past the five year mark and only … More >>>

Harvey Olsen by — December 22, 2022 in Company Business