by Tiffany Mellow | Feb 27, 2017 | Bookkeeping, Business Accounting, Your Questions Answered - Business Accounting
QUESTION: Dear Taxman – I am starting a small business. What software should I use to keep track of my business transactions? ANSWER: Dear Reader – If you are only selling one product or service, Excel is good for tracking incoming and outgoing money in a...
by Tiffany Mellow | Feb 20, 2017 | Business Taxes, Your Questions Answered - Business Accounting
QUESTION: Dear Taxman – This summer I started a lawn mowing business and made about $3,000 mowing grass. However, my expenses were more than my income. Do I need to report it on my tax return? ANSWER: Dear Reader: The IRS requires all business income to be...
by Tiffany Mellow | Jan 15, 2017 | Personal Tax Deductions, Personal Taxes, Your Questions Answered - Personal Accounting
QUESTION: Dear Taxman – My Daughter graduated from college in May of this year. She started working in September and expects to make about eleven thousand dollars this year. Can we still claim her as a dependent for this year? ANSWER: Dear Reader: To claim her...
by Tiffany Mellow | Jan 8, 2017 | Business Taxes, W-2's, Your Questions Answered - Business Accounting
QUESTION: Dear Taxman – What is the due date for filing my W-2’s with the Social Security Administration? ANSWER: Dear Reader – You’re probably aware that W-2 forms must be provided to your employees by January 31st. The IRS has set the due...
by Tiffany Mellow | Jan 4, 2017 | 1099's, Business Taxes, W-2's, Your Questions Answered - Business Accounting
QUESTION: Dear Taxman – I have a small business and I am not sure if I should give my workers 1099’s or W-2’s. Can you tell me how to determine which way to go? ANSWER: Dear Reader – It’s not uncommon for small business owners to be...
