Tag Archives: Tax

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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28 Apr 2016
Self Employment Tax

What Is Self-Employment Tax?

A recent Huffington Post article revealed a startling statistic: as of 2013, self-employed individuals paid the highest income tax rates of any group in the U.S. One reason for this is the undue burden these workers face as a result of the self-employment tax. Whether you freelance occasionally or own your own small business, you
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