Easy Ways to Grow Your Retirement Savings: Smart Retirement Planning
Retirement often feels like the finish line of a marathon. No matter how far away your last day of work may seem, it’s a goal worthy of pursuit. Creating a retirement savings plan is akin to staying hydrated during a long distance race, otherwise known as your career....
3 Reasons Bookkeeping Services for Small Businesses Yield Great Results
Business owners are typically jacks-of-all-trades, and in a competitive market, a versatile skillset is a key ingredient of success. Unfortunately, this means that some entrepreneurs end up stretching themselves too thin with responsibilities. When one person is in...
What You Need to Know About Employee 401(k) Plan Contributions
You might not know everything about employee 401(k) plan contributions, but if you’re an employer, it is your responsibility to understand the basics when you offer this benefit to your workforce. A 401(k) is one of the most common retirement investment options...
3 Questions to Ask Your Payroll Provider
If you’re a small business owner in Chicago or the northwest suburbs that have been considering using outsourced payroll services for your company, you’re sure to have plenty of questions that the Payroll Vault team at Motl Accounting in Dundee can answer. After all,...
The Advantages of Using a Personal CPA to File Your Taxes
What’s your favorite season? At Motl Accounting in Dundee, our favorite is tax season. It’s the time of year when you should be thinking about the best way to complete your business filing. There are a number of ways to do your taxes, but a personal CPA for your small...
The Dos and Don’ts of Charitable Tax Deductions for Small Businesses
Tax season is underway for businesses across the country, which means it’s time to start thinking about any charitable tax deductions for small businesses you’ve made that can reduce your tax burden. One of the most commonly claimed deductions is for charitable...
How Offshore Tax Havens Affect Small Businesses
The U.S. Public Interest Research Group Education Fund recently published a study indicating that small businesses pay $5,128 on average in taxes per year to make up for revenue lost to offshore tax havens. Small businesses generally aren’t the ones taking advantage...
Getting the Most out of Vehicle Expense Deductions
If your business requires any driving, you owe it to yourself to make a vehicle tax deduction. It’s one of the most common business tax deductions because so many industries require vehicles to get work done. Every year, the Internal Revenue Service sets a standard...
Business Tax Deductions You Didn’t Know Existed
There’s nothing worse than realizing you could have saved money on your taxes after you’ve already filed them. It’s easy to overlook some of the lesser-known deductions that exist, but doing so could cost you a pretty penny. Sometimes business owners wait until the...