Growth is good for a business, right?
Growth for a business is good, right?
Every year, as business owners enter into the final stretch of tax season, tons of people and small businesses scramble to make sense of their financial statements, figuring out their own deductions, and struggling with some “free” tax prep software. Maybe you have just gone through that this year.
If you’ve spent any time online in the last ten years, you’ve probably heard about the digital nomad. A term coined in the late 2000s, the digital nomad represents a new worker that’s not chained to a desk or a specific office -- they work remotely. Thanks to the development of affordable wifi, dependable laptops, and a millennial lifestyle that values experience and flexibility over stability, digital nomads have become a staple of the workforce.
We increasingly live in an age that is centered on convenience. Streaming services mean that fewer people go out to the movies, and car apps like Lyft and Uber mean that fewer people own vehicles. One space that has seen an online surge are food delivery apps. DoorDash, Uber Eats, and Postmates all advertise that they can get your favorite restaurant’s food right to your door, without you ever getting out of your pajamas.
We’re in the midst of a construction boom. That’s great news for trade-based businesses, such as construction companies, electricians, and plumbers, but finding the talent to match the demand during these booms can be a huge challenge for any employer.
The current government shutdown is affecting all kinds of nationally funded programs, but nowhere is it more evident than how it has shaped tax season this year. Already different because of the passage of the Tax Cut and Jobs Act, the real monkey wrench comes from the fact that 800,000 federal workers in nine different departments aren’t able to work. These departments include Agriculture, Commerce, Justice, Homeland Security, Housing and Urban Development, Interior, State, Transportation, and Treasury
It’s the most wonderful time of the year! At the end of the year, charitable donations soar as individuals scramble to get them in before the end of the tax season. It feels good to give. (Really, you should do this. Giving is its own reward.) It also doesn’t hurt that in year’s past, you’d also get a big deduction for doing the right thing.
We know nobody really likes tax season. However, the work you do now could be the difference between saving money or spending money in March and April. It helps to have a good accountant, but if you wait until the last minute, a tax accountant can only fill out your tax filings according to what’s already happened.