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Discovering that certain purchases are tax deductible can provide significant benefits for your business. Here’s 10 purchases that you may not have realized were tax deductible.
The IRS has officially commenced accepting tax returns as of today (January 29), signaling the start of the 2024 tax filing season. This marks the beginning of a critical window for taxpayers to fulfill their obligation of reporting income, claiming deductions, and ensuring compliance with the ever-evolving tax code.
Accurate bookkeeping is crucial for small business owners for several reasons, playing a fundamental role in the financial health and success of their enterprises. In essence, bookkeeping involves the systematic recording, organizing, and tracking of financial transactions, providing a clear and detailed overview of a company’s financial position. Here are some key reasons why accurate bookkeeping is essential for small business owners.
Protecting yourself from financial fraud is essential in today’s digital age where individuals are increasingly vulnerable to various scams and identity theft. Here are some key strategies to avoid becoming a victim.
Preparing for taxes well in advance can bring numerous benefits and alleviate stress associated with the tax season. While many people procrastinate until the last minute, adopting an early approach to tax preparation can lead to financial advantages, peace of mind, and a smoother overall experience.
Outsourcing bookkeeping has become a prevalent business strategy for many organizations, offering a range of benefits that contribute to improved efficiency, cost-effectiveness, and overall business success. In this discussion, we’ll explore the reasons why companies choose to outsource their bookkeeping functions.
Are you a small business owner struggling to keep up with your finances? One of the most important decisions you can make is choosing the right accounting method. It can be overwhelming to decide which one is best for you. But don’t worry, we’re here to help!
The Atlantic Hurricane season begins June 1st and many of our clients are reaching out to us to see what they can do to be prepared.
Our clients often ask why it’s important to keep their tax records, how long do they need to keep them, how to store them, and how to dispose of them.
Many of our clients look for ways to supplement their income. Is it a hobby or a business? Sometimes it’s unclear whether you are a hobbyist….or a business owner. This post will help to explain the IRS businesses vs hobby rules.
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FWN Accounting offers a wide range of services to individuals and small to medium sized businesses and we will be
happy to answer any of your questions. Call or email us to learn more about how we can help.