What Is the Hobby Loss Rule? If your business goes too many years without making a profit, it can be classified as a hobby. When
We work with small business owners and entrepreneurs. Some are seasoned, others are just growing their side hustle. Their skills are varied and they have
We work with small business owners and entrepreneurs. Some are seasoned, others are just growing their side hustle. Their skills are varied and they have
We work with small business owners and entrepreneurs. Some are seasoned, others are just growing their side hustle. Their skills are varied and they have
As we approach tax season, it is important to understand different types of tax forms, and why we need them. If you’re hiring a
Here at Mazuma, we know financial statements are important for running a small business. There are three basic financial statements; the balance sheet, income
What is the Widow’s Exemption? The widow’s exemption reduces the tax burden on widows by reducing the amount of a widow’s taxable income. States individually
What is Underwithholding? Underwithholding is when you haven’t had enough income taxes withheld during a year. If a tax payer’s incomes taxes are underwithheld, it does not
What is a Tax Credit? A tax credit reduces the amount of tax a business or individual has to pay. The government uses tax credits
What is Sales Tax? Sales tax is a consumption tax on goods and services. State governments, along with county and local governments, set the sales
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Mazuma is a licensed accounting firm (CPA) based in Orem, Utah, and members of the AICPA. We provide professional accounting services to businesses and individuals, with a focus on small business bookkeeping and taxes.
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