With the start of the new year, preparation is in full swing to close out 2016 and begin the tax filing season. Here are a few dates to remember: Jan 31st: W-2's are due to MN employees. 1099's are due to all contractors and independent workers. Feb 6th: MN Annual Sales Tax due. Feb 10th:…
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Recent Posts by admin
Tax saving tips to consider before year end.
It's hard to believe 2016 is coming to an end, but it's fast approaching and taking a few small steps to prepare can help save you money. Let's be honest, most people slide into the new year completely unprepared for filing their taxes for one reason or another. Once their returns are filed it becomes…
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Don’t just ask for a credit-reference – use it!
Sound silly? Companies too often think that a prospect is creditworthy simply because it provided references. Or, they feel that “checking up” isn’t nice. Or they are uncomfortable asking strangers detailed questions about someone else’s business. Make sure your credit application or other signed document gives you permission to contact references. Although a credit check…
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Are deductions allowed before your business is open?
Here's the scenario: In October a former commercial pilot purchases a used plane for business use, with the intention of offering aviation services. A single member LLC is formed, a contractor is paid to fly the plane to the home airport and meetings with potential clients are made but services are not retained. At the end…
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