Tag Archives: taxes

How to move forward from business tax issues

CC image via www.rentvine.com Keeping up to date with taxes and running an operation smoothly can be a challenge, especially when an operation runs into tax trouble, but businesses can recover as well as change their practices to safeguard against further business tax issues in the future. Usual mistakes According to the Internal Revenue Service, a large portion of tax problems comes from simple mistakes such as bad bookkeeping. Using company credit cards for personal expenses and

Taking your first steps in the world of IT contracting

IT contracting can be a great choice of career, giving you independence, flexibility and the freedom to work from almost anywhere you want. Anybody with a solid background in computing, whether it’s gained through work or study, can become a success in this area – it just takes hard work and determination. How should you start? Before you start working The first thing to do when you set out to be a contractor is decide how you want to run your business. You could set up a limited company,

What you need to know about the benefits of contracting

Making that jump into contracting is often a very daunting move, and first-time contractors typically have a lot of questions they need answering. While there are a number of complex processes to get your head around at first, as well as extra tasks to carry out, there are plenty of benefits to being a contractor. Why should you become a contractor? There are numerous reasons to become a contractor, but largely people do it because they want to overhaul their lifestyle and take control of their

Words and phrases you need to know when contracting

Whether you are new to contracting or are experienced in the field, there are likely to be phrases you come across that are confusing and do not have an obvious meaning, such as: IR35 The IR35 legislation determines whether you are permitted to work as a limited company contractor or not. If you decide when, where and how you work, it is likely you will fall outside the regulation and will be able to operate as a limited company. However, if the client imposes these working conditions on

Getting ahead of the game this tax season

With tax season now swiftly upon us, time is rapidly running out to get your affairs in order before the deadline at the end of the month. However, while some business owners will be entering the new year feeling very smug with themselves, others will inevitably not be experiencing similar emotions - with cashflow, accounts and the associated documentation all potentially causing last-minute problems. When it comes to tackling your tax, the simplest solution is to get ahead - planning is