Practical guidance for individuals and small businesses in La Verkin, St. George, Hurricane, and the rest of Washington County.
How St. George and Washington County short-term rental owners with high incomes can use cost segregation and bonus depreciation to offset W-2 and business income, plus the pitfalls to avoid.
If your business relies on trucks, machinery, tools, or other expensive equipment, you’ve probably heard about renting equipment to your business through a second company you also own. It’s a legitimate strategy that can lower your tax bill — but the benefit depends heavily on how your operating business is taxed, and if it’s an … Read more
Good bookkeeping rarely makes headlines, but bad bookkeeping has a way of turning into a very expensive problem, usually right around tax season. Here are five mistakes we see often among small businesses in La Verkin, St. George, Hurricane, and the rest of Washington County, along with what to do instead. 1. Mixing personal and … Read more
One of the most common questions we hear from small business owners in St. George, Hurricane, and La Verkin is whether it’s time to move from a sole proprietorship to an S-corporation. There’s no single right answer, but there is a clear way to think through it. How a sole proprietorship works As a sole … Read more
Tax deadlines have a way of sneaking up, especially once you’re juggling a quarterly estimated payment, a business return, and payroll deposits at the same time. Here’s a clear rundown of the deadlines that matter most, and what happens if one slips past you. Individual and business income tax returns For most individuals and businesses … Read more