small business section 179

2021 Section 179 Deduction Limits for Small Businesses Taxes

Small business tax deductions are important in order to offset high business taxes levied against small business owners and entrepreneurs. This is especially true for work from home entrepreneurs who file as sole proprietors, or as a Limited Liability Company aka LLC, with sole proprietor … Read More

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Business Tax ID Number – FEIN and EIN Explained

There is an unfortunate amount of confusion surrounding the concept of the Federal Tax Identification Number. It is ironic, because the whole Tax ID, FEIN, and EIN thing is actually very simple, mostly because they are generally all the same thing. However, it isn’t surprising … Read More

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Home Office Tax Deduction

One of the best deductions for self-employed people who work from home is the home office tax deduction. Basically, you take the square footage of your home office and compare it to the total square footage of your home, and then you get to deduct … Read More

Deduct Sole Proprietorship Business

Can I deduct my business? That’s a question I get a lot from sole proprietors. The trick is that most information about small business taxes reads like it aimed more at slightly larger businesses, specifically, those that have employees. However, the same IRS tax rules … Read More

Free Small Business Accounting Software Microsoft Money Home and Business 2

Free Small Business Accounting Software Microsoft Money Home and Business

Update: You can now get a lot of personal finance software functionality from Microsoft Money in Excel, an Excel template from Microsoft. It uses a third-party company called Plaid to automatically download your transactions from your bank and credit card accounts. An interesting opportunity to … Read More