As a professional photographer, investing in the right equipment is crucial for capturing stunning images and maximizing your business's tax efficiency. These investments can be considered business expenses, offering valuable tax write-offs. Here's a list of essential photography gear and related expenses that can be deducted during tax season.

Small business owners must prioritize staying updated on tax deadlines, as managing day-to-day operations is just as important. Understanding and planning for these deadlines is crucial to avoid penalties and maintain your business's good standing.

Managing finances can be daunting, especially for business owners. Separating personal and business finances is crucial for clarity and efficiency. This blog will discuss the importance, legal and tax implications, practical steps, long-term benefits, and how J&S Accounting can help.

If you receive payments through Paypal, Venmo, or Cash App as a freelancer or side hustler, you should know the new income reporting regulations. The IRS has updated the 1099-K tax form requirements, which will affect how you report your earnings in the future.

This post offers a guide on making the most of a tax refund. It covers diverse strategies, including debt reduction, student loan payments, establishing an emergency fund, contributing to retirement, and reinvesting in your business. The emphasis is on strategic financial decisions to improve overall financial well-being.

If you are starting a new business, one of the most important decisions you have to make is choosing the right type of business structure. Your business structure will affect how you operate, manage, and pay taxes for your business. By selecting the appropriate business structure, you can minimize your tax liability and maximize your profits.

Ready to tackle your taxes? As a business owner, it's essential to stay up-to-date with your financial responsibilities. Make sure you issue the correct 1099 forms to your contractors or service providers. Review this quick guide and make sure you meet the criteria for issuing a 1099-NEC. Learn when to issue 1099-NECs, how to file them, and how to protect your business. Enjoy a faster, time-saving, and easy tax season!

When taking money out of a business, transactions must be carefully structured to avoid unwanted tax consequences or damage to the business entity. Business owners should follow the advice of a tax professional to make sure financial transactions are controlled and do not cause unanticipated taxation or other negative effects.

A common problem with single-owner and other closely held corporations is intermingling of funds. This occurs when a corporate shareholder uses his or her personal checking account for corporate deposits or payment of corporate expenses.

Are you your own boss? Do you have a trade or business that you run as a sole proprietor or independent contractor? Maybe you’re a member of a partnership, or you have a part-time business on the side. As exciting as this can be, it also brings certain fiscal responsibilities, like filing an annual tax return, paying estimated taxes every quarter, and handling self-employment tax.