Krystin Mitchell's (klsmcpa) Blog

Generally, Individuals, including sole proprietors, partners, and S corporation shareholders, are required to make estimated tax payments if they expect to owe tax of $1,000 or more when their annual federal tax return is filed.You don't have to pay estimated tax for the current year if you meet ...

Self-employed individuals and small business owners with excess income should consider setting up SEP IRA. There are 7 different types of IRAs including the Traditional, Roth, SEP, Nondeductible, Spousal, SIMPLE, and Self-directed. Each IRA has its advantages and disadvantages, however for this b...

Starting a business can be exciting, challenging, rewarding and stressful. Knowing how to protect your business in matters of accounting, tax and fraud can significantly contribute to your business success. Here are a few tips to consider: Accounting Matters  Invest in an accounting system such a...

Greetings everyone, As a reminder, the filing deadline for the 2018 tax season is quickly approaching! If you are one of those folks who extended their individual or C-Corporation tax filing, you have until Tuesday, October 15, 2019 to ensure a timely filing of your tax return. Additionally, if y...