Steven Day

  • Not Using An Accountant For Your Small Business?3 Reasons You Need To Hire One

    If you own a small business, but you haven't hired an accountant, you could be setting yourself up for some serious problems. First, you've got too much on your plate to try taking care of the financial records. Second, if you're handling your own finances, that means you're also handling your own taxes, which can be detrimental. Here are three reasons why you need have an accountant for your business.
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  • Why Are There Three Different Versions Of Form 1095 For Healthcare Insurance?

    Several aspects of the Affordable Care Act interact with federal income tax regulations. The penalty for not having health insurance is assessed on individual tax returns. As part of the implementation of the ACA, healthcare providers issue certain IRS forms to insured individuals. Although the three main forms issued to tax filers have similar-sounding names, the forms serve very different purposes. Tax filers are sometimes initially confused to learn that there are three IRS forms in the Form 1095 series.
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  • The Effects Of Poor Financial Data Bookkeeping And How Accountants Can Help

    Owning and operating your own business is an ideal situation for many people. It is the chance for them to be their own bosses and make their own success. However, a lot of people that start their own businesses fail miserably at one very important aspect: financial data bookkeeping. Here are just some of the effects of poor financial data bookkeeping, and how accountants can help. Your Business is Heading for Bankruptcy
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  • How To Protect Your Business From A Tax Audit

    As a business owner, you might find yourself constantly stressing about taxes. Along with worrying about how much you have to pay, you might also be worried about things like being audited. These are certainly legitimate concerns, and tax audits can happen to any business owner. However, following these tips can help: Do Your Research For one thing, as a business owner, it is important to do your research about your tax responsibilities as a business owner.
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  • Small Business Owners: Don't Let These Employee Payroll Mistakes Cost You Money

    Many small businesses don't start out with any employees: it's just the proprietors handling everything themselves. When you reach a point where you have to hire employees, this is a good sign; your business has grown to where you need and can support help. However, this also means that you have to handle a payroll, and payroll mistakes can end up costing you a lot of money if you aren't careful.
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  • How To Report A Gain On The Sale Of A Second Home

    Because of a special provision in federal tax regulations, many individuals pay no income tax on a profit from the sale of their main residence. In addition to a main home, however, some individuals also own a second residence. Unlike the gain realized on the sale of a main residence, a gain realized on the sale of a second home may be fully taxable. The tax code allows individuals to deduct interest on two homes, as long as the combined mortgage balance is $1 million or less.
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  • Simple Ways To Improve Your Accounting Skills And Land A Better Job

    If you're a new accountant, you may want to possess as many skills as possible to impress potential employers. Finding a decent job that allows you to earn a great income for the work you can complete is important. If you're not satisfied with the position you have now, you may want to apply to positions that pay well and offer better benefits. There are several ways to improve your chances of getting hired by a great company:
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