Running a successful business in today's complex economic landscape isn't easy. Executives are faced with many different choices, and each choice can have long-lasting ramifications. In order to gain valuable insight from the perspective of a neutral third party, more and more businesses are opting to rely on the services of a business advisory firm.  If you are in the market for an advisory firm, look for an organization that offers the following important features.

Ask anyone in the cannabis industry what it is like to be in the industry in comparison to other fields of business, and they will probably tell you that the cannabis business is a lot like every other business model. The only difference is there can be a lot of extra challenges that you would not normally have to deal with, and one of those problems will be finding a business banking account.

Opening up a business is an exciting venture, but one that requires a lot of responsibility. Many people open up businesses every year, so it is doable to keep a company up and running. One of the hardest functions of being a business owner is getting your business taxes submitted and paid on time. It is imperative for businesses to keep up with tax deadlines in order to keep your business status active.

One of the most important pieces of tax legislation in recent years was signed into law by the president in December of 2017. Originally introduced as the Tax Cuts and Jobs Act, the final version of the bill is known simply as the 2017 Tax Act. The new tax law contains several provisions that affect how companies process employee payroll. The 2017 Tax Act makes changes to both business and personal tax regulations.

Are you thinking of buying a house? Investing in real estate is still a popular and relatively safe way to build your nest egg for the future and increase your enjoyment today. When reaching for the goal of home buying, don't forget to consider how your taxes may be affected by your decision to invest in real estate. What are some ways? Here are 3 big ones that can affect different homeowners.

If you are starting up your own business you know in the beginning you will likely not make very much money. How long it will take you to become profitable depends on many factors, such as the type of business you have, where you are located, and more. Once you start making money, you need to ensure you stay profitable. Below are two tips on how you can do this.

Individuals who work as employees typically receive a Form W-2 after the close of the year for tax purposes. Some workers, however, are not technically classified as employees and are issued a Form 1099-MISC instead. The tax preparation process for workers who receive a Form 1099-MISC is usually a bit more involved than the process for a W-2 recipient. Form 1099-MISC is just one in a series of 1099 forms produced by the IRS.

if you have a growing and thriving small business, you may be thinking about hiring some help. But, before you put out an ad to find someone new, consider an employee closer to home. Who? Your minor child. Why? Here's how it can benefit you, them, and the future. Your Benefit Sole proprietorships and limited liability companies generally pay tax on profits through the owner's individual income tax form. So, the more business expenses you can deduct from your gross income, the lower your income tax and the lower your self employment tax will be.

The separate income tax returns of parents and their dependent children are sometimes intertwined. The choices made on one tax return may have an impact on another return. Parents can ensure that their family obtains the most favorable overall tax treatment by instructing dependents on how certain deductions should be claimed. Teenagers typically enter the workforce by working at part-time or seasonal jobs. After taxes are withheld from their earnings, teens and young adults often file tax returns early simply to receive a refund of their withholding.

Some people just do not have a head for the business end of a business. You can promote, create, sell and advertise, but bookkeeping and accounting are just not your forte. That is okay. It is the biggest reason why people partner up to open a business venture. One is always the ideas and make-it-happen person, while the other is all business. If you are starting a new business, but you simply do not want to involve a partner, there are bookkeeping services that can help.