Category Archives: Accounting & Tax

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How to file your taxes as a contractor

Contracting is a very lucrative career path. It is common for experienced workers who have completed a number of senior permanent roles to switch to a contracting career to further expand their field of experience. Experienced contractors can offer companies authoritative advice on issues that matter to them, and they tend to get paid very well for doing so. However, contracting brings a complication in that you are entirely responsible for managing your own financial affairs, which includes filing Read more [...]
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Tips To Execute Successful Business Acquisitions

Every single business acquisition will be different and will have various challenges that have to be met. However, in all cases we have the same principle that appears. There are two companies that have different ownerships that unite and then operate under one roof. We have companies that help manage acquisitions like Generational Equity. They are normally involved in the process because of all the things that have to be managed. However, if you want to handle it alone, here are some tips that you Read more [...]
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The End of Year Tax 2016

The end of tax year organization is not often the first thing on the mind of small business owners. However, for the most organized SME’s this process is prepared early in advance. Companies that fail to capitalise on forward planning will often suffer once April rolls around and the panic sets in. To ensure that you are getting the most out of our tax returns check out the following guide written by 11 successful small business owners. Each tip will help you to prepare for the next tax year. Read more [...]
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The Unexpected Costs of Owning Rental Homes

While it can be a brilliant idea to become a landlord, there are expenses other than the mortgage that you will have to worry about each month. These hidden costs incurred while keeping the home in good shape are what you need to look out for. Property Management Owning rentals can be executed without necessarily hiring a property manager, but that doesn’t mean it’s a good idea. A property manager markets the property and brings in qualified tenants, helps in the collection of rent, organizes Read more [...]
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How to Properly Choose the Best Payroll Outsourcing Service for Your Needs

The advantages of outsourcing your payroll are well understood, and it’s no wonder that more and more companies take advantage of an outsourcing service. After all, it frees the managers from having to acquire their own in-house expertise, reduces administration, creates more accurate and efficient payroll slips, and boosts morale. However, when considering a payroll outsourcing service, several considerations must be made – it is, after all, an important part of your business. Here’s how to Read more [...]
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How the April 2015 pension changes may affect you

There is a radical overhaul of the pension system in the UK that is set to take effect next month, April 2015. There have been several aspects to George Osborne’s plans announced in the past year, and this article will outline some of the thing you should all know.   The investment charges that workers pay when they save into a pension are being examined for the first time and companies are under pressure to lower them. At the same time, more workers will save into a pension as the roll-out Read more [...]
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How to Avoid These Common Tax Scams

Honest citizens have little to fear from the Internal Revenue Service, but criminals prey on the naive and the complacent. It’s everyone’s responsibility to report truthful information and pay their share of annual income taxes, but conmen may attempt to convince you otherwise. It is okay to save a little on your tax bill, but it’s never a good idea to cheat the IRS. Below are five common tax scams to avoid at all costs. The Zero Gain Game Since the tax rate is based on your income, Read more [...]
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10 Reasons it Makes Sense to Hire an Accountant as a Freelancer or Contractor

Although many freelancers or small contractors decide to handle their finances themselves, there is a growing trend towards hiring an accountant to handle the monetary side of their business for them. There are a number of reasons for this which are highlighted below. Reason #1: Free Up Your Time One of the most common reasons for hiring an accountant to handle the financial side of operations is that it frees up the freelancer’s or contractor’s time. This allows them to concentrate on other Read more [...]
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Chapter 7 or 13 Bankruptcy Right For You?

Filing for Bankruptcy in California is a multi-tiered challenge. To complete this process successfully and with the least amount of stress, you need a Los Angeles bankruptcy lawyer specialist on your team. McFarlin Law’s goal is always to help clients reset their financial lives, regain their balance and begin the next stage of their financial lives on the best footing possible. Bankruptcy offers the opportunity to learn from your financial mistakes and recover. We work to make that process Read more [...]
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Tax Deductions That Can Help You Save Money

When you file for your tax returns, it all depends upon your skills of filling the form. While most people fill the form efficiently, they most of the times forget to fill the medical, health and insurance premium details. Listed below are some of the deductions that need to be crossed checked after filing up the form. Insurance benefits pertaining to disabilityThe insurance premium is deductible. When it comes to disability insurance, it is always advisable to have the benefits tax-free considering Read more [...]