So you’re the proud owner of a new side business? Congratulations! But the work has just begun. Since you’ve decided to take the plunge, you should explore the money and tax issues that you’ll experience along the way. Let’s look at a few.
Running and earning income from a blog takes work and keeping documents on the related expenses can help you come tax time. The good news to keeping good records is that you can deduct your qualifying business expenses from blogging. Find out more.
Certain capital expenditures for small businesses qualify for the Section 179 expense election. If so, your business can choose to immediately expense. Section 179 limits decrease as of 1/1/2012. Find out more here. Full story
A number of small business tax cuts have been extended into law. The specifics, though, are relatively unknown and rarely discussed. Journalists and pundits sweepingly refer to them all as “the small business tax cuts” rather than naming what each one actually entails. Today, we’ll take a closer look at some of these recent tax cuts and when they come into play for small business owners. Full story