Category: Small Business

10 Accounting Mistakes That Can Hurt Your Business

Keeping up with your business books keeps getting shoved to the bottom of the list. You have so much to do, that accounting just doesn't feel like a priority... at least not until tax time. But making sure your accounting is up-to-date all the time will help you avoid serious money mistakes than can hurt...

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How and When to Get an EIN for Your Business

This article contains affiliate links that may or may not result in compensation. You’re excited about launching a new business, and there’s so much to do! One of the most important steps involves figuring out whether your business will need it’s own tax ID number – called an EIN, or employer identification number. A lot...

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Maximize Your Home Office Deduction – Do It the Long Way

If you work from home, that can score you a very big tax break…as long as you can stand a little math and some extra paperwork. Sure, there’s a very simple way to take the home office deduction – multiplying the square footage of your space by $5 – but it’s limited to $1,500. And...

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Business Income Worksheet

[pdf-embedder url="https://michelecagancpa.com/wp-content/uploads/2017/03/Worksheet-1-2.pdf" title="Business Income Worksheet"] Click here to download the PDF for printing or full screen viewing.

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What if My Taxes Get Audited?

Tax audits are among the most common financial fears, but they don’t have to be – especially with your CPA by your side. Truthfully, though, unless you make more than $200,000 a year, your chances of getting flagged for audit are pretty slim. And with IRS budget cuts severely limiting their ability to even check...

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