The Busy Bee Blog
Why Time Stress Is Crippling Your Success
“Everyone owns my time but me.” Is this something that sounds familiar to you? There's a lot that can distract business owners and consume their time. We often refer to this as time stress. In Amy Porterfield's recent podcast, she sat down with Marie Forleo to discus...
California Expands Pay Transparency Requirements
Beginning January 1, 2023, employers in California will be subject to several new requirements aimed at promoting pay equity, as follows: Employers with 15 or more employees (located anywhere) will be required to post the pay scale for an open position in their job...
W-9 vs 1099 Forms: What They Are & How to Make Tax Season EASY
If you’re a small business owner that works with independent contractors, you need to be familiar with two tax forms: Form W-9 and Form 1099. What are these forms, and how do they work in conjunction with one another? What is a W-9 form? A W-9 form is an Internal...
Grants & Tax Credits for Small Business Owners
From The Small Business Owner’s 2022 Economic Relief Guide Before you try anything else, you might want to look into applying for financial assistance through grants. The extra cash will be able to help get you through the difficult economy and invest it in the areas...
How to Manage Inflation for Small Businesses
To say that entrepreneurs and small businesses have taken a beating since 2020 would be putting it mildly. Small business owners have weathered the COVID-19 pandemic, and supply chain and hiring crises with basically no breaks in between. Now, we’re onto the next...
Depreciation of Real Estate
When you own rental property, depreciation is your best friend. One reason depreciation is so valuable is that, unlike deductible rental property expenses such as interest and maintenance, in which hard earned dollars have to leave your wallet. Depreciation allows you...
Having Your Cake & Eating It Too…The Best Of Both Worlds. Using A Vacation Home As Rental Property & For Personal Use
Chances are if you have a second home (one that may have been inherited or purchased with the best of intentions) you’ve considered the extra income stream with services like AirBnb or VRBO. Not too long ago if you had a second home that was in a desirable location...
Is It A Business Or Is It A Hobby?
Are you a part of the growing gig economy? Do you run a side hustle? Wondering if it’s a business or a hobby? Are you reading this and wondering why you should care? For the purpose of taxes these activities are more commonly referred sideline activities. Think Direct...
A Word About Self-Directed IRAs
Tax-advantaged retirement accounts such as IRAs are a great way to save for retirement. But when you establish a traditional IRA with a bank, a brokerage, or a trust company, you are ordinarily limited to a narrow range of investment options, such as CDs and publicly...
2021 Tax Credits to Know
For tax year 2021, Congress is giving away billions of dollars in additional tax credits on your Form 1040 individual tax return. These temporarily expanded tax credits include the child tax credit, the dependent care credit, and the health insurance premium tax...
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