Accounting Suggestions for New Business Owners

photo of man starting a business for TH&W CPA's in Murfreesboro

If you are a small business owner, especially a new one, I’m sure that you have learned from the decisions that you made while getting started.  The following is a short list of suggestions for new entrepreneurs: Choosing your business entity It seems that everyone wants to be an LLC.  Is this right?  What about…

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New Standard Deduction

In late 2017, the President signed into law a tax reform bill that makes major revisions to the United States tax code.  The new law changes the way individuals and businesses will calculate their share of taxes on an annual basis.  One of the most important features of the law that has changed starting in…

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What You Can Do to Reduce Your Taxes at Year’s End.

Reduce your tax liability? With the new tax law set to be passed the week before Christmas, there are ways to look into the future and possibly take advantage of some current laws this year (2017).  At the end of the year, most taxpayers are looking to make strategic moves to minimize their tax liability. …

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Tax Exemptions and Deductions for Children

Deductions and Expenses for children Any child that you have that you claim on your tax return you’re going to get a personal exemption for it in 2017. The personal exemption is $4,050 and will directly reduce the taxable income of the taxpayer claiming the child.  There is also a child care credit for 2017. …

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