Keep up with the
accounting world
Stories and news that really count when it comes to your business success.
How to Pay Yourself as an S Corp Employee?
File an S election: Before a business begins operating as an S corp, it must file forms electing to be taxed as an S corp. One reason that a business makes an S election [...]
How to Decide What Type of Legal Entity is Best for Your Consulting Business?
Your business will need to choose 1) a legal structure and 2) a tax classification. These are two separate topics but they often get blurred together. A business owner consults with an attorney to [...]
How to Reimburse Home Office Expenses for Employees of S Corporations
If a business is taxed as an S corp, there are tax laws that let them deduct the home office expense reimbursements paid to their employees. To do so, the IRS requires that the [...]
Are There Income Tax Consequences from Working Outside of My Home State?
In today's world, many of us find ourselves working not just in our own state but in others too. This can make navigating income taxes a bit tricky. Let's break down what you need [...]
What are the Advantages of Going 100% Virtual with Your CPA?
Welcome to hassle-free accounting. Tired of sorting through receipts and crunching profitability numbers that you aren’t very confident about? Colvin CPA is here to change all that with our 100% Virtual CPA services. Let’s [...]
What Are the Best Tax Saving Strategies for Course Creators?
Imagine you're in the midst of creating your next hit online course. Your coffee is brewed, your ideas are flowing, but lurking in the back of your mind is the looming question of taxes. [...]
Should I Have a Business Emergency Fund?
How far away from land would you go on a sailboat with no life buoy? Not many people would come onboard with confidence. If your business is the sailboat and your emergency fund is the [...]
How to Find a Dreamy Accountant
Small business owners have ninja-level decision-making skills. How many decisions do you think you made last month? You found a contractor to help you deliver a project. You hired an administrative assistant. You determined year-end [...]
The Benefits of Separating Your Business Finances from Your Personal Finances
I am certain that you have heard about the importance of separating your business finances from your personal finances. But, how seriously are you taking that advice? Even if your intentions are good, true separation [...]