marginal-effective-tax-rates

Marginal or Effective? Defining Tax Rates

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I talk with a lot to people about their taxes in my San Rafael office, both as individuals and as small business owners -- and one very common misunderstanding people present to me is when they say they know their tax rate.

8 Tips for Small Business Owners After Taxes

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For Marin small business owners, January, February, and March are often a scramble to get taxes ready. We see it first hand at the San Rafael office of Books in Balance, as clients come to us with their bookkeeping and taxpreparation questions.
starting-a-marin-san-rafael-business

Tax Tips for New Marin Businesses

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If you’ve started a new San Rafael business in 2018, one critical area to start thinking about early is your taxes. Starting a business comes with many tax implications, as well as many benefits. The exact type of logistics and benefits comes down to many different variables involved with your business, from the way things are set up to the way you pay your taxes.
tax-time-in-san-rafael

The Most Common Tax Forms Received by San Rafael Residents

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When the new year rolls around, each trip to your San Rafael mailbox probably requires keeping a sharper eye for tax forms. These usually come with big bold IMPORTANT TAX FORM INCLUDED on the outside. Various forms will arrive, and though they are technically required to be sent by the end of January, this doesn't always happen. You may also receive notifications in your email inbox about electronic versions available for secure download.
san-rafael-new-tax-laws

How the GOP Tax Bill Affects San Rafael Residents

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Regardless of your politics, San Rafael residents will experience a significant change in how their taxes will be processed following the massive tax bill signed into law by the President just before Christmas. Even professionals such as myself are still just beginning to fully grasp the magnitude of this change. It's a lot to process, and unfortunately the bill was drafted rather hastily, so proper analysis takes time.
home-office-example

What Are Common Home Office Tax Deductions?

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“Can I write it off?” I can't tell you how many times I hear that in my San Rafael office. Calculating deductions is the job of an Accountant or Tax Preparer but the bookkeeper is the first line of defense in preparing the source info, so I keep myself educated on the latest and most unique ways to approach tax deductions for home offices.
what-is-a-tax-bracket

What Is a Tax Bracket?

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What is a tax bracket? And why is it so important? Let’s take a closer look.

10 Things to Ask a Bookkeeper

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When you’re hiring a bookkeeper, you’re not just hiring someone to crunch your numbers.

The Dangers of Tax-Related Identity Theft

When people think about identity theft, they generally don’t consider their taxes as the culprit. Let's assume you're just an everyday person -- a local resident in San Rafael, like me, working hard for your family. Doing your taxes are a means to an end, not a vulnerability.

Research Credit Can Offset Payroll Taxes

A little-known tax benefit for new, qualified small businesses is the ability to apply a portion of their research credit – no more than $250,000 – to pay the employer’s share of their employees’ FICA withholding requirement (the 6.2% payroll tax).