by justin@creatovision.com | Feb 28, 2020 | Uncategorized
If you’re about to ask for a business loan, expect to deal with the issue of covenants – constraints lenders impose on your company to keep it operating within specified financial ratios and to prevent it from taking certain actions. These clauses are...
by justin@creatovision.com | Feb 26, 2020 | Uncategorized
If you’re self-employed and work out of an office in your home, you may be entitled to home office deductions. However, you must satisfy strict rules. If you qualify, you can deduct the “direct expenses” of the home office. This includes the costs of painting or...
by justin@creatovision.com | Feb 20, 2020 | Uncategorized
Do you conduct your business as a sole proprietorship or as a wholly owned limited liability company (LLC)? If so, you’re subject to both income tax and self-employment tax. There may be a way to cut your tax bill by using an S corporation. Self-employment tax basics...
by justin@creatovision.com | Feb 11, 2020 | Uncategorized
Many people who launch small businesses start out as sole proprietors. Here are nine tax rules and considerations involved in operating as that entity. 1. You may qualify for the pass-through deduction. To the extent your business generates qualified business income,...
by justin@creatovision.com | Feb 5, 2020 | Uncategorized
Are you an employer who owns a business where tipping is customary for providing food and beverages? You may qualify for a tax credit involving the Social Security and Medicare (FICA) taxes that you pay on your employees’ tip income. How the credit works The FICA...
