Trump Is Pushing for GOP Tax Reform Changes to Slash Corporate Taxes
The Trump rule is here with its own cornucopia of reforms and regulations. Republicans are now controlling the Chambers of Congress. They have already rolled out many tax reforms and, like always, there is a lot of debate about their pros and cons on the commoner and small business owner. Trump has already pushed for significant last-minute alterations to the GOP tax plans during the first year of its rule. What Trump promised at the beginning of 2017 The beginning of this year saw a significant change towards the reduction of corporate tax rates. The plan states reduction of the maximum of 35% to a maximum of 15%. According to…
The Easy Steps to File for a Business
Unless you are a tax accountant, the idea of even filing your own taxes may be inherently intimidating. Americans have collectively grown to dread tax season as a time of confusion and uncertainty. If you are filing for a business, especially a new business, you may feel even more anxious. Fortunately, the process is easier than you may think. Here are a few easy steps to follow when filing for a new business on your own: 1. Get a Tax ID You will need to obtain a Tax ID for your company. To do this, you should do a bit of research to ensure that you are filling out the…
Tips To Grow Profits With Your Small Business
Are you running a small business? Then you’re probably always looking for ways to increase your profits. Small businesses have plenty of things that you can tweak and experiment with in order to increase your profits. Here are a few tips for you to enlist so that you can grow your revenue and profits as much as possible. Government Deductions When you’re filing taxes a quick way to add to your profits is to file small business deductions with the CRA. Deductions are a wonderful way to easily get money back in your pocket that you’re then able to reinvest in your growing business or to reward yourself with a…
Great Ways To Save Money Without Losing Quality
In business, it’s important to work towards ways to save money and reduce costs. You need to do this to stay competitive in an economy that is always changing and expanding. There are plenty of situations where an expensive business model could put your company in a dangerous situation. An example would be a price war. During a price war, competing businesses drop their prices in the hope of pushing one or more businesses out the market. It’s happened plenty of times. In fact, you could say that high street retailers are constantly in price wars with online alternatives like Amazon. Amazon is always offering the cheaper deal on new…
Asset Management: The Backbone of Any Company
An asset is defined by Merriam-Webster as “a valuable person or thing.” For businesses, assets can take many forms. That is why asset management is so critical and why it can get complicated without the right systems in place. SaaS-based solutions from providers like Asure Software make asset management much more manageable. However, the only way to gain the most value is by knowing why asset management is important to your business. Lost Items Cost You Time and Money Disorganization isn’t just an annoyance, it’s costing you money. Every time an employee has to search for something, productivity is being lost. A survey from Brother International Corporation found that, on…
Does My Small Business Have To Pay Tax?
Assuming you’re new to the business world or are still just a small company, your tax situation may not be clear. Of course, if you are a giant mega-corporation then you’ll be shelling out that tax money just like the rest of us. If, however, your size and profit margins are small, your situation may be a lot different. Businesses range from a whole host of types, from start-up to nonprofit, and each will be privy to their own set of requirements. Start-ups may be able to use tax reliefs, but at the same time, all business owners will have to pay certain taxes pertaining to their company. So, if…
