What Business Records You Should Keep for Tax Purposes

Keeping business records for tax purposes can be completely overwhelming, but it’s critical in order to keep your business safe if you’re ever audited. The most overwhelming part of keeping business records is knowing what records are important. We’ll go through the Internal Revenue Service’s (IRS) recommendations on what to keep and how long to keep … Continued

The Business of Blogging Part 5: Create and Maintain an Organized Bookkeeping System (AKA: Mazuma’s Secret Bookkeeping Formula)

An organized bookkeeping system is arguably the most critical component of monetizing a blog business. It doesn’t matter if you’re making boocoo bucks on your blog if you aren’t tracking money coming in and money going out. Here’s how we suggest you manage your time when you’re taking care of your own small business bookkeeping … Continued

Conquer the Paper Pile-Up: Top 3 Ways to Track Receipts this year

Tracking receipts can be a huge headache for small business owners. Creating an organized system to store all of those receipts (and finding them when it’s time to file taxes!) can be an even bigger headache. Here are the top 3 ways to track receipts for your small business this year: Take a photo and … Continued

4 Ways to Reduce Your Personal Income Tax Bill

As we approach the end of the year (and the beginning of tax season!) it’s time to start thinking about how your year went financially. If you made a little more money than usual or are anticipating a high tax bill for your personal income tax, you still have time to reduce your bill before … Continued

Mazuma’s Year-End Business Accounting Checklist

As December approaches, it’s time to start thinking about your small business bookkeeping and closing out the year for your small business. While that may sound like an overwhelming feat to accomplish in addition to a busy holiday season, we’ve made the accounting part easy with our quick, printable year-end business accounting checklist. Click here … Continued

Top 20 Accounting Tips for Insurance Agents

As an insurance agent, there is no one who understands the importance of protecting your assets better than you. You’ve got your clients covered when it comes to their vehicles, home, business, assets, family members, and every other important aspect of their life. Why not do the same for your insurance agency? Proper accounting and … Continued

The Top 10 Tax Deductions for Realtors & Real Estate Agents

Almost everything you buy for your real estate agency is tax deductible, as long as it is ordinary, necessary, and reasonable. The great thing about spending all that money on your real estate agency throughout the year is that the expenses can be subtracted from your taxable income at the end of the year and … Continued