It’s tax time and it goes without saying that pulling together the receipts and invoices, filling out the paperwork and making sure you’ve got all your deductions lined up and in a row is takes more time than it looks. As we near the tax deadline, you might be thinking that it’s time to … Continued
Business Taxes
It’s a new year and you’ve got a list of business goals that you’re ready to tackle. Not so fast though – you’ve got to prep & file income taxes! Maybe you’re ahead of the game and spent the last quarter of 2018 pulling it all together, or maybe you’re a tax expert and you’ve … Continued
What is a Tax Identification Number? A Tax Identification number is the same as an Employer Identification Number (EIN). The IRS uses this number to identify your business entity, just like they use your Social Security Number to identify you for your personal taxes. Applying for a Tax ID is simple and can be … Continued
There is a lot to manage when you’re running a small business, but one of the most important things to take care of is managing the books. In addition to understanding what money is coming in and out of the business on a day to day basis, you’ve also got to be sure you’ve got … Continued
You beat the rush and filed your taxes early. Having the stress over with is nice, but having that cash from your tax refund in your bank account would make the success of getting it done all that much sweeter, right? It’s true that the IRS issues more than 9 out of 10 refunds in … Continued
During Q4, tax season seems like it’s lightyears away. But prepping for tax season now, can save you time and money come tax time. Here are 3 year-end contributions you might want to consider before you ring in the New Year, and how they’ll help your bottom line. Year-End Contribution #1: Charitable Donations No one … Continued
Financial reports can be an incredibly helpful tool for small businesses. They can help you determine how much money you can pay yourself each month. Or they can help you decide if it’s time to expand your business. As helpful as financial reports are, they can only help you if you understand how to read … Continued
Trying to recover after a natural disaster is incredibly overwhelming. But, trying to get your business to recover can be a whole new headache. Using an external accountant, an accountant that doesn’t work from your office, can be beneficial because it’s one less thing on your plate. An external accountant can help take some of … Continued
At Mazuma, we have a lot of experience with business taxes. Ben Sutton, one of Mazuma’s founders and a Certified Public Accountant (CPA), recently hosted a webinar on the most commonly missed business tax deductions. Ben’s experience as a CPA has helped him learn what business tax deductions business owners are missing out on. In … Continued
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 tax; however, not every state has sales tax. The purpose of sales tax is to fund government projects. The revenues from sales tax are used to fix roads, improve communities, … Continued