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Small business tax credits and deductions you should know about

BMT Office Administration

Snag: There are at least 24 different definitions of a small business in the tax code (we counted!), IRC § 179 deduction for depreciable business assets Normally, when you buy a piece of office equipment, you must depreciate it over the number of years of its useful life. For 2023, you can deduct up to $1.16

Payroll 98
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Business finance: The ultimate guide for non-finance people

BMT Office Administration

A business can choose to liquidate (selling something to convert it into cash) physical business assets, such as real estate, equipment, computers, and vehicles — in order to pay off debts. Balance sheet Maintaining a balance sheet is a necessity for any sized business, so it should definitely be a part of your bookkeeping process.

Finance 105
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How to handle remote employee time tracking

BMT Office Administration

Another reason to implement employee monitoring tools is to ensure that your employees aren’t using company equipment for personal use (think company phones, tablets, laptops, printers, etc.). If you’re going to use a monitoring tool that takes periodic screenshots of their workspace, you’ll definitely need to let your team know beforehand.

Payroll 52
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How to double your productivity in 30 minutes

The Shrink for Entrepreneurs

Hell, maybe you’ve got meetings to go to – that’s definitely work. Nothing equips an entrepreneur to rise above that plateau. Did I mention payroll? Even payroll. Then there’s the rest of the time (the majority – again, we’re being honest here) where you tell yourself you’ll smash it … soon.

Payroll 40
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Small Business Bootstrapping Techniques | THE SMALL BUSINESS BLOG

The Small Business Blog

Especially if your aim is to build a personal business, like contractors, freelancer, self-employed, sole-trader and virtual assistants , working from home , creating an income and keeping it small and manageable, then bootstrapping is definitely for you. PUSSHE Said on October 26th, 2007 at 9:28 am [.] Thanks for the comment. – ST.

2007 100
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My thoughts on the multi-VA model

Virtual Moxie

I have several amazing subcontractors as team members, yet, when I needed someone to come into my office to work on a more 'employee' basis, I hired an actual employee and she's been on my payroll for 3+ years. If you hire subcontractors and then micromanage them, provide them office equipment, ect, then yes this is illegal.

2010 100