Small business taxes may include federal and state income taxes, payroll taxes, excise taxes, and self-employment taxes. Tax funds are then used by federal, state, and local governments to pay for programs such as Medicare and Medicaid, Social Security, and public schools.
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You’ve decided to cash in on accelerated depreciation with cost segregation, but what are your next steps once the study is complete? How you claim this depreciation varies based on whether the study was completed the same year you purchased the property or if you had a look-back study performed later.
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Jan 25, 2024
Filed under: Cost Segregation
To set up online ordering for your restaurant, you have to create a menu, customize your online ordering site, choose takeout and delivery settings, route orders to POS and kitchen display devices, and connect to delivery services like DoorDash. You can also accept orders through your Google Business Profile and social media.
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Jan 23, 2024
Filed under: Point of Sale, Restaurant POS
If you own a rental property (or several), there are several write-offs that you can deduct to lower your tax bill. This includes everything from mortgage interest and homeowner’s insurance premiums to the money you pay toward utilities, repairs, and employee wages.
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Jan 22, 2024
Filed under: Cost Segregation
Square and Loyverse are both great options for new small businesses with very low budgets. When it comes to Loyverse vs Square, the deciding factors come down to whether you plan on expanding your business and what kind of tools you’ll need to run your business.
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Jan 18, 2024
Filed under: Point of Sale
Rental property depreciation allows property owners to write off the costs of purchasing and improving rental property on their income tax returns. Typically, a rental property depreciates at a rate of about 3.6% per year for 27.5 years. Depreciation begins after the property is available to rent.
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Jan 18, 2024
Filed under: Cost Segregation
There are many reasons you need a salon-specific POS system. Those POS systems may include every feature your salon, spa, or other service-based business needs — they are designed with your industry in mind. Others, however, might be close to perfect but don’t offer some of the built-in features you want. This is where POS integrations come in.
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Jan 17, 2024
Filed under: Point of Sale
You (and your employees) need specific tools to be successful and help your customers leave feeling satisfied. Save yourself time, money, and energy by improving your customer retention and reducing your employee turnover with a salon-specific POS system.
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Jan 17, 2024
Filed under: Point of Sale
A merchant acquirer is a financial entity, frequently a bank, that provides the settlement infrastructure for credit and debit card transactions. They also represent the backend of popular payment processing platforms like PayPal, Square, and Stripe, which in turn provide middleman services between the business and the merchant acquirer.
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Jan 16, 2024
Filed under: Data Reports
Bonus depreciation is a tax incentive that allows businesses to write off a large percentage of the cost of an asset in the first year it’s placed into service. In 2024, 60% of the cost of qualified property can be written off in the first year it’s placed in service.
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Jan 16, 2024
Filed under: Small Business