In this article concerning recordkeeping of business expenses, we examine the costs associated with business travel. Particularly for business owners, travel costs can be substantial expenses in the course of a year’s business operations. Out of Town Travel Frequently, out-of-town travel is required, particularly for certain types of businesses. Some require completion of continuing education…  
Continue Reading

One confusing aspect regarding paying workers in your business is the proper classification for them. Bookkeepers and business owners must ensure proper treatment to avoid dire consequences. Hiring workers requires due diligence in many ways, including compliance with all applicable federal, state, and local laws. Many businesses owe fines due to improper classifications. In this…  
Continue Reading

In the previous articles, we examined the importance of adequate bookkeeping to account for business expenses and ensure appropriate tax savings for owners. Now, we look at another very important responsibility of bookkeepers: tracking deductible expenses for personal vehicles used for business. Vehicle Mileage Deductions Most business owners, unless they have company-owned vehicles used regularly…  
Continue Reading

As the countdown to Christmas continues and people everywhere frantically search for those last-minute gifts, business owners search for those last-minute tax saving tips. Let’s consider a few simple items to make sure your bookkeeping records include as many tax breaks as possible for 2013. In this series of articles, we are addressing some key…  
Continue Reading