Deducting Startup Costs for Your New Business at Tax Time
Before you earn your first dollar, before you are even open for business, your startup can incur considerable expenses. The money you spend opening your business can often be deducted; the IRS allows you to deduct many of these one-time startup costs. Speaking with an accountant in the early stages can help you decide which of these deductions to take – and may also help you discover additional ways to save money as you operate your new startup. There are several types of startup costs that may be deductible for your new business.
Can You Deduct Employee Expenses?
If you are an employee, you may be curious about which expenses relating to your employment are deductible on your tax return. This is a complicated area of tax law, and many expenses are deductible only if the expense is a “condition of employment” or is for the “convenience of the employer,” two phrases that are effectively the same.
Don’t Have a Retirement Plan? Maybe a SEP Is the Answer.
If you are like many small business owners, you probably find the year-end period to be a very busy time. You can’t close your books and determine your business’s profit until after the close of the year, and if this has been a good year, you may want to establish a retirement plan and make a contribution for 2015.
Begin YOUR career in public accounting with US
Associate Accountants typically have from 0 to 3 years of experience in the field of accounting. Our Associate Accountants have the opportunity to experience the numerous aspects of a career in public accounting. Beginning duties will cover areas of accounting, auditing and tax in a variety of industries. Duties include internal control analysis, test of transactions, walk-throughs, substantive testing, financial statement preparation along with tax preparation and research. You will work closely with the Firm's Partners and Managers as you gain valuable practical experience in the profession.
This position offers an excellent opportunity for professional growth and advancement within the public accounting field.
Bachelors or Masters Degree with a Major in Accounting having achieved the 150 hour requirement and plans to sit for the Uniform CPA Examination
- Ability to work with others in a team environment
- Ability to solve problems and make timely decisions
- Proven research skills
- Excellent verbal and written communication skills
- Computer Skills with experience in Microsoft Office Products & Computerized Accounting Software
Additional Salary Information: We provide our full time team members competitive compensation based on experience along with other benefits such as; medical, long term disability and life insurance, pension and 401(k) retirement plans, flexible work arrangements, vacation, a CPA exam assistance programs and more…
EXPERIENCED PAYROLL SPECIALIST
Candidates should possess experience in all aspects of processing payroll transactions, including wage calculations, wage and hour regulations, tax deposit requirements, monthly, quarterly and annual payroll tax filings, and garnishment procedures. Confidentiality, communication, and computer skills needed. Additional skills in accounting and bookkeeping a plus. Competitive benefits with compensation based on experience.
FAQ: Can the IRS impose penalties if a return is not filed/tax not paid?
Yes, the IRS can impose penalties if a tax return is not timely filed or if a tax liability is not timely paid. As with all IRS penalties, the rules are complex. However, a taxpayer may avoid a penalty if he or she shows reasonable cause.