One of the very first administrative decisions you must make after deciding to go into business is what type of entity, or business structure do you want or need? Depending on which structure you choose, there will be legal and tax considerations that go along with the selection. Available Busines[...]
Archive for the ‘bookkeeping’ Category
The order of things…
What to do first and why! Over the past decade I have either set up myself, or helped set up numerous businesses in the State of Wisconsin. If done correctly it’s a simple task that sets up the administrative blueprint for your company. If not set up correctly it may be costly and time consumi[...]
No Double Dipping!
Standard Mileage Rates I received a call yesterday from a past client regarding the 2010 Standard Mileage Rate as given by the IRS. He is an electrician and uses his personal vehicle as his work van, which is completely fine of course, however, he was not following the IRS regulations on the busin[...]
What is a business?
Is that a hobby, or a business you have there? A business is not a hobby. If you engage in an activity and do not expect to profit from this activity, it is considered a hobby, and nothing may be deducted off of your personal tax returns as an expense to offset other income. However, [...][...]
Hello and welcome to Bookkeeper’s Blog!
Greetings! I hope to bring help to small business owners who may be struggling with bookkeeping concepts, business start up procedures and tasks that may be foreign to them. I have seen over the years that business owners are creative individuals, typically very busy and not very detail-orientated[...]
