The Online Resource for the Painting Industry

Accounting

Employee Classification – The 1099 Debate

By on January 1, 2017 in Accounting with 0 Comments
Employee Classification – The 1099 Debate

With the “sharing economy” and “gig economy” continuing to grow, the debate around employment classification rages on. Companies like Uber and Lyft are at the forefront with lawsuits being filed around the country. According to the Wall Street Journal, Uber recently agreed to pay $100 million dollars to resolve disputes in California and Massachusetts. We […]

Continue Reading »

Avoiding 3 Painful Tax Penalties

By on November 29, 2016 in Accounting with 2 Comments
Avoiding 3 Painful Tax Penalties

“Income tax returns are the most imaginative fiction being written today.” – Herman Wouk Imaginative fiction that can cost you, if you’re not careful. There’s nothing worse than paying penalties on top of what you owe the IRS. The IRS can hit you with many different tax penalties. Here are 3 basic IRS penalties and […]

Continue Reading »

Painting Business Owner: Home Office Tax Deduction

Painting Business Owner: Home Office Tax Deduction

As a painting business owner, you likely conduct most of your business outside of your home (doing estimates, supervising job sites, etc). However, you can still claim the home office deduction if you are using an area in your home for your business. Claiming this deduction allows you to deduct a percentage of utilities, mortgage interest, […]

Continue Reading »

Tax Loophole – Save Big on Wages Paid To Employees

By on August 13, 2016 in Accounting, What We Do with 0 Comments
Tax Loophole – Save Big on Wages Paid To Employees

Have you hired an employee who belongs to one of the following groups between January 1, 2015, and August 31, 2016? Unemployed Veterans (including disabled veterans) Temporary Assistance for Needy Families (TANF) Recipients Food Stamp (SNAP) Recipients Designated Community Residents (living in Empowerment Zones or Rural Renewal Counties) Vocational Rehabilitation Referred Individuals Ex-Felons Supplemental Security Income […]

Continue Reading »

Top