Tag Archives: IRS

23 Jan 2017
Self Employed

Taxes for the Self-Employed – What You Need to Know to Avoid Audits

If you’ve been self-employed for any length of time, then you’ve probably heard the horror stories about fellow business owners being audited.  In fact, the IRS tends to pay close attention to sole proprietorships of all sizes and is particularly tough on businesses that deal mainly in cash. Offering decades of industry experience, the team
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17 Jan 2017
Tax deductions

Top 10 Tax Deductions for Self Employed

It’s no one’s favorite time of the year.  After the New Year, many small business owners start anticipating the dreaded end of the fiscal year, also known as tax season.  And while finding the money to pay Uncle Sam can be tough for the cash-strapped small business owner, there are some ways to minimize the
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11 Dec 2016
W2-vs-Independent-Contractor

Key Differences Between a W-2 and a 1099

As another tax season approaches, you might be wondering about the various responsibilities that await your small business. From deciding what deductions are valid to determining what forms to fill out, the stress level is often high for those who run their own companies. Fortunately, Accurants is here to help. Here are some of the
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10 Aug 2016
Business Litigation

5 Ways to Protect Your Small Business Against Legal Fallout

Owning your own small business means being your own boss and pursuing a career about which you’re truly passionate.  Unfortunately, it also means stepping up to the plate when it comes to legal issues outside your expertise. Just because you’re running a small business and not an international corporation doesn’t mean you’re immune from legal
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31 May 2016
Cash vs Accrual Basis Accounting

Cash Basis vs. Accrual Basis Accounting

Small business owners have to make numerous decisions, not the least of which is determining the best method to handle accounting. Typically, businesses use one of two principal accounting methods, known as cash method and accrual method a (also referred to as cash basis and accrual basis accounting respectively).  IRS defines an accounting method as a set
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