While discussing death and estate planning isn’t always comfortable, it’s a crucial way to ensure your wishes are met and your loved ones are taken care of after you’re gone. Here’s an updated look at the eight essential steps for estate planning in 2024: 1. Secure Your Legacy with a Will: Having a legally sound...
Author: Kenner French
Tax Deduction 101
Are you an entrepreneur and ever wanted to ask someone about tax deductions but were to scared to ask? Well, no reason to ask the Tax Deduction 101 course is here. Before getting into tax deductions one must ask if it makes tax sense to own a business. Does it, indeed, make sense? Tax Advantages...
Is bookkeeping important for the IRS? Ask the auditor when he or she knocks on your door. Yes.
Why should I keep records? Good records will help you monitor the progress of your business, prepare your financial statements, identify sources of income, keep track of deductible expenses, keep track of your basis in property, prepare your tax returns, and support items reported on your tax returns. What kinds of records should I keep?...