Intelligence For Rent - Business Tax Organizer

BUSINESS TAX ORGANIZER

Not everyone needs QuickBooks to keep track of business revenue and expenses. Smaller business owners can get by perfectly fine with a paper-based record-keeping system.

Use the attached Business Tax Organizer to summarize revenue and important IRS approved categories of expense. This Organizer could be completed monthly, quarterly or annually based on the size of your business.

DOWNLOAD BUSINESS TAX ORGANIZER PDF

For official IRS guidance on business expenses see their Publication 535 available here:

https://www.irs.gov/pub/irs-pdf/p535.pdf

LEGAL DISCLAIMER

George Adams
Certified Public Accountant Master of Business Administration
Tel: (207) 989-2700 E-Mail: GeorgeAdams@IntelligenceForRent.com
450 South Main Street: The HQ of IQ
Brewer, Maine 04412-2339

©2015 Copyright George Adams CPA MBA. All Rights Reserved.

Business Cases:

Nucor Steel: Into the Storm

10-25-2011 Hits:7321 Company Analysis George Adams

One of the largest steel companies in the U.S.had a forty year track record of unbroken profitability until 2009. How can Nucor succeed in a tougher, harsher climate?

RITZ-CARLTON (Circa 2008)

12-14-2011 Hits:7638 Company Analysis George Adams

The business strategy of luxury with a human face requires both popularity and exclusivity. How can Ritz-Carlton master this apparent contradiction?

SAS Company Analysis (Circa 1995)

12-13-2011 Hits:6851 Company Analysis George Adams

Does it pay to fly dirty?

Otis Elevator (Circa 2004)

12-13-2011 Hits:9080 Company Analysis George Adams

The largest elevator company in the world has to make some tough choices.

Vertex Company Analysis (Circa 2003)

12-27-2011 Hits:6415 Company Analysis George Adams

Crucial business decisions can benefit from the insights of combinatoric analysis.

Walmart Company Analysis (Circa 2003)

12-27-2011 Hits:6172 Company Analysis George Adams

The largest retailer in the world is getting too big to grow any further without new and better thinking.

Sara Lee Corporation (Circa 2008)

12-27-2011 Hits:6437 Company Analysis George Adams

Nobody doesn’t like Sara Lee, until the company started hating itself.

Southwest Airlines (Circa 2010)

12-27-2011 Hits:6893 Company Analysis George Adams

How can the most successful U.S. airline keep it up?

The Power to Save the World: Fusion, the Unknown Ideal

12-28-2012 Hits:7578 Company Analysis George Adams

Energy is the ultimate question of our time: how do we get it, at what cost and what consequences?

Business Issues:

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NO SWEAT NO CHECK

06-27-2024 Hits:897 Business Issue Analysis George Adams

We live in a corrupt era of history when more and more self-entitled people think they can sit around all day, eat chips, play video games, not work at all, and get paid big money.

BUYING OR SELLING A BUSINESS?

04-30-2024 Hits:1043 Business Issue Analysis George Adams

In these tumultuous times more and more people are buying and selling businesses. This phenomenon runs parallel to the recent buzzing market in residential real estate sales.

TAX TIME 2024

02-06-2023 Hits:1747 Business Issue Analysis George Adams

Tax Time 2024 is upon us and officially began on January 29, 2024. For Maine residents personal returns for 2023 will be due on Wednesday, April 17, 2024. Business tax returns for corporations, multimember LLC's, and partnerships will be due...

Business Tax Organizer

01-04-2023 Hits:2114 Business Issue Analysis George Adams

Not everyone needs QuickBooks to keep track of business revenue and expenses. Smaller business owners can get by perfectly fine with a paper-based record-keeping system.

DRESS FOR SUCCESS

02-07-2023 Hits:2434 Business Issue Analysis George Adams

During the Covid pandemic many office employees started working from home in their pajamas. There was less need to shave, dress in appropriate business attire, fix your hair, and comply with generally recognized sartorial standards. That era is coming...

IRS ADJUSTS PAYROLL WITHHOLDING TABLES BECAUSE OF RAMPANT INFLATION

10-31-2022 Hits:2449 Business Issue Analysis George Adams

We Now Have the Highest Inflation in 40 Years. Almost everyone knows our economy is suffering from historic levels of inflation. Food and gas especially have gone up significantly in price.

FEAR OF ROUNDING

09-06-2022 Hits:2777 Business Issue Analysis George Adams

Fear takes many forms and there are literally thousands of phobias out there. Mental health professionals assign various technical names to these very real phobias, such as 'agoraphobia' for people who are afraid of open spaces, 'hydrophobia' for those...

HOME EQUITY THEFT

07-29-2022 Hits:3196 Business Issue Analysis George Adams

What happens if you don't pay your property taxes? What if adverse, even tragic, personal circumstances make it impossible for a home owner to pay property taxes due?

TAX VERSUS RISK

05-30-2022 Hits:3091 Business Issue Analysis George Adams

Everyone knows that tax returns are all about taxes and people focus on the all important number: Tax. But this is a simplistic perspective that is only half true.

CAN THE GOVERNMENT SEIZE YOUR MONEY?

02-26-2022 Hits:3637 Business Issue Analysis George Adams

In February, 2022 the far-left Prime Minister of Canada, Justin Trudeau, declared a state of emergency and invoked powers normally reserved for war time conditions.

Key Income Tax Rules and Opportunities for Landlords

01-12-2022 Hits:5178 Business Issue Analysis George Adams

Here are five key insights for residential and commercial landlords.

Where's the Money?

01-10-2022 Hits:5124 Business Issue Analysis George Adams

Your business checking account is overdrawn. Payroll is due tomorrow. You feel flat, busted broke. But your accountant tells you that your business made a profit of $50,000 and you are going to owe thousands of dollars in taxes to...

The Check Is In the Mail: What to do When Customers Don't Pay

01-07-2022 Hits:4818 Business Issue Analysis George Adams

Are your customers pretending your business is a bank that gives free loans? Here's what you can do to deal with collection issues.

How to Stop Bullying by Banks

01-05-2022 Hits:3541 Business Issue Analysis George Adams

Bankers routinely want copies of your tax returns to prove you can continue to pay on an existing loan. But what if your banker is worse to deal with than the IRS?

THINK OR DIE

12-15-2021 Hits:3445 Business Issue Analysis George Adams

Here stands a besieged fortress of pure reason in a world gone mad. Here, a community of fifty brave scientists defies the very worst that Nature can do in order to seek knowledge and truth.

Personal Financial Planning Part III: True Wealth

12-31-2021 Hits:4876 Business Issue Analysis George Adams

True wealth requires the absence of certain things as well as an abundance of dollars.

Personal Financial Planning Part II: Miserable Millionaires

12-29-2021 Hits:5079 Business Issue Analysis George Adams

Mere money isn't enough: true stories of miserable millionaires.

Personal Financial Planning Part I: The Access Code to Success is 21100

12-27-2021 Hits:5202 Business Issue Analysis George Adams

How to get ahead during difficult times.

The Code Enforcement Gestapo

12-24-2021 Hits:4902 Business Issue Analysis George Adams

What if law and reason conflict?

Small Business Beware: The Maine Dept. of Labor is Coming After You

12-22-2021 Hits:4735 Business Issue Analysis George Adams

Are you at risk of a Maine unemployment tax audit? This article discusses risk factors and what you can do to prevent an audit in the first place

Seller's Remorse

12-20-2021 Hits:5031 Business Issue Analysis George Adams

Thinking about selling your business? You have one chance to get this transaction right. Here are some important things to consider before you sell.

The Five Equations Every Business Owner Must Know

12-17-2021 Hits:4973 Business Issue Analysis George Adams

Don’t let the title fool you. Here is a very non-mathematical and easy- to-read article which has five key insights on how to make your business win in the real world.

CAN YOU DEDUCT YOUR DOG

12-06-2021 Hits:3472 Business Issue Analysis George Adams

This is a question I am asked over and over again by many clients. So here in this article I'm finally going to provide a comprehensive answer that addresses various circumstances. Federal income tax law is ridiculously complex and the...

CHAOS IN D.C.

04-19-2021 Hits:4501 Business Issue Analysis George Adams

Tax Season 2021 is the worst in decades because of the many, many retroactive tax law changes spewing from D.C. This article will summarize key changes, which may force many taxpayers who already filed their taxes in February or early...

THE SOCIETY OF FRIENDLY NUMBERS

04-06-2021 Hits:3933 Business Issue Analysis George Adams

Once upon a time there was a Society of Friendly Numbers, a Maine non-profit organization that truly believed that unfriendly numbers were the primary source of human misery and grief. Members of the Society were certain that language creates...

PANDEMIC PANDEMONIUM

05-21-2020 Hits:5460 Business Issue Analysis George Adams

During the current Coronavirus global pandemic societies everywhere are confronting a stark choice between minimizing the harm caused by the virus and minimizing the harm caused by lockdowns and stay-at-home orders.

KEY INSIGHTS AND RECOMMENDATIONS FOR HOMEOWNER ASSOCIATIONS

11-25-2019 Hits:6128 Business Issue Analysis George Adams

Most homeowner associations hold their annual meetings in December. This article is intended to offer constructive suggestions and general advice.

IF YOU CAN'T TRUST A PROFESSIONAL YOU CAN'T BE A CLIENT

01-13-2020 Hits:5477 Business Issue Analysis George Adams

Trust is the universal foundation of all enduring relationships, including the business relationships clients have with professionals in all industries.

WHEN SHOULD YOU CLAIM SOCIAL SECURITY BENEFITS?

01-13-2020 Hits:5140 Business Issue Analysis George Adams

One of the most important considerations for maximizing social security benefits is to make a wise choice on when to start claiming.

FAILURE TO FILE TAX RETURNS

01-13-2020 Hits:5161 Business Issue Analysis George Adams

In my career I've helped many people who have fallen behind in filing tax returns. Failure to file can occur for many reasons, including personal tragedies, divorce, medical issues, etc.

LIKE KIND EXCHANGES

01-13-2020 Hits:5349 Business Issue Analysis George Adams

IRC Section 1031 allows taxpayers to exchange like-kind business and investment real estate tax free. Under the new tax law that took effect on January 1, 2018 personal property and intangible assets no longer qualify for a tax free like...

WHAT RECORDS SHOULD YOU GIVE YOUR ACCOUNTANT?

01-12-2017 Hits:8782 Business Issue Analysis George Adams

For many people it's not obvious what records and information their accountant needs. This article will discuss the most important information your accountant must know when it's time to do your taxes.

A MASSIVE TIDAL WAVE OF HIGHER LABOR COSTS IS COMING TO MAINE

02-21-2019 Hits:6439 Business Issue Analysis George Adams

One of my duties as an accountant is to warn people and small business owners of major economic changes. In 2016 a public referendum to increase Maine's minimum wage passed by a slim majority.

THE NEW QUALIFIED BUSINESS INCOME DEDUCTION FOR LANDLORDS

02-27-2019 Hits:6398 Business Issue Analysis George Adams

The Kings of Keys have a new tax deduction starting in 2018

SELLER FINANCING: WHAT YOU NEED TO KNOW

08-09-2018 Hits:6667 Business Issue Analysis George Adams

Trying to sell or buy a business or commercial real estate? If you are the biggest obstacle you will encounter is financing.

WHY THINGS GO WRONG

06-23-2018 Hits:6920 Business Issue Analysis George Adams

The supreme Enemy of Mankind is an equation.

WATCH YOUR MAIL

06-15-2018 Hits:6395 Business Issue Analysis George Adams

It is an unfortunate fact that many people and businesses treat administrative tasks like opening up mail as a nuisance. When people get busy with substantive work and the distracting events of life these seeming nuisance tasks get neglected, leading...

MEASURING EMPLOYEE WORTH

05-30-2018 Hits:8135 Business Issue Analysis George Adams

The job market today is tough and highly competitive. The first concern of many employees is to just hold onto their job. Labor force mobility (workers quitting one job to begin another) is at an all-time low. But all workers...

SMART MID-YEAR TAX MOVES

05-30-2018 Hits:6849 Business Issue Analysis George Adams

Mid-year and mid-summer arrive on schedule every June 30th or so. Here are some smart tax moves you should consider in order to avoid a nasty 'April surprise' next year:

PLANNING FOR THE UNEXPECTED

05-30-2018 Hits:6517 Business Issue Analysis George Adams

Anyone who owns anything of value needs three things to document their intentions and protect their interests. These three critical documents are a will, a durable power of attorney and a living trust.

MAINE OPPORTUNITY CREDIT

05-30-2018 Hits:7805 Business Issue Analysis George Adams

One of the most generous and most overlooked Maine income tax credits is the so-called Credit for Educational Opportunity. In my experience few accountants and even fewer clients are aware of its existence. The credit is intended to reward college-educated...

UNUSUAL TAX RULES

05-30-2018 Hits:6588 Business Issue Analysis George Adams

The tax law is a strange hybrid containing many obscure rules, exceptions to the exceptions, and deeply counter-intuitive definitions. Buried in the clutter of what Congress created is opportunity. Finding useful opportunities in the tax law is like digging through...

Making Business Succeed, Part Four: Victory for Vacationland
Tourism and related businesses dominate the economy of Vacationland.
Five Key Facts of Life for Non‐Profits
You may be the last line of defense for your non-profit organization.
CLOUDY, WITH A CHANCE OF PAIN
The truth about cloud-based accounting and the dangers of bundling.
TAX RETURN FRAUD IS RAMPANT
According to a January 2015 news release from the IRS, for the period 2011 – 2014 the tax agency stopped…
GEORGE'S POWER BREAKFAST
Business owners are the nucleus of their business, the center upon which everything else depends. It is frequently the case…
GHOST ASSETS
Are You Being Haunted By Them? If You Are It’s Costing You Money

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Telephone: (207) 989-2700 Email - georgeadams@intelligenceforrent.com Address: 450 South Main Street: The HQ of IQ Brewer Maine 04412-2339	Maine Society of Certified Public Accountants Certified QuickBooks Professional Advisor Bangor Region Chamber of Commerce Beta Gamma Sigma and Phi Kappa Phi National Association of Independent Writers and Editors New England Peer Review
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