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Tip of the Day Be Aware of Other Deductions

Be Aware of Other Deductions - As part of filing your income tax you need to educate yourself as far as what deductions are allowable. Each year the government...

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Small Business Tax Accounting

Do you need assistance with your trade taxes and accounting systems? Are you confused and worried about whether your business' s books are in order? Does FUD -- fear, uncertainty and doubt -- about your tax record keeping trouble your sleep and torment your dreams?

Don't panic, lad or lassie, help is just a few keystrokes or a short drive away and it may be a lot cheaper than you think.

Step one is to figure out exactly how much and what kind of help you need. Maybe an upgrade to financial software program will solve all your problems. That shouldn't cost more than $100. Or maybe a brief consultation or two with a certified public account would put you on the right path. Yes, those guys don't come as cheap as software, but $300 should see you through.

If you're only hung up on one or two aspects of business tax bookkeeping, you may be able to get all the help you need free by searching the web for blog or forum posts from other business tax payers who've had the same or a similar problem and solved it. Even if you don't find a specific solution online, you might be able to get one by registering at a number of small business forums and posting your problem as a new topic.

One of the nice things about such forum posts is that they frequently draw responses from numerous people and those responses draw more responses and by the time the thread is full, you've got a substantial assortment of potential solutions to your issue to choose from.

One thing you should remain mindful of is the fact that some tax or other is levied by nearly every level of the government, so if you are dealing with a state, city or country business tax issue you have to make sure that the answers you receive to your queries are relevant to the tax codes in your jurisdiction.

Another good policy is not to wait until 24 hours before a tax filing deadline to start looking for a fix. The best way to solve any business problem is to avoid letting it develop in the first place. So ask your questions early and use the answers you get as preventive, rather than after-the-fact, medicine.

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Definition of the Day Equity Financing

Equity Financing - Equity Financing is simply selling common stock to investors. The investors can be individuals or corporations. In return for their cash investment, the investors receive stock (partial ownership) of the company. The more stock you buy, the more interest you have in the company another name for...

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