We know December is a busy month. However, take some time now to make sure QuickBooks is ready for 2020. Yes, it’s here again: the end of the year. You probably have a lengthy to-do list full of tasks that must be done before December 31. There’s one task—or rather, a series of tasks—that you…

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At their core, tax credits are a very particular type of benefit designed to offset the actual tax liability associated with SMBs around the country. This isn’t the same thing as a tax deduction, which lowers that business’s actual income. Tax credits are typically offered to incentivize everything from hiring more workers in order to…

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Article Highlights: For-Profit Businesses Not-for-Profit Businesses Nine Determining Factors Profit Presumption Taxpayers are often confused by the differences in tax treatment between businesses that are entered into for profit and those that are not, commonly referred to as hobbies. Recent tax law changes have added to the confusion. The differences are: For businesses entered into…

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