Category: business expenses

Stressing about your taxes?

Taxes are not fun, but you don’t have to get stressed about them.  Just contact Hampton Roads Accounting at 757-454-6276 and let us take care of your tax preparation needs.

Everyone Should Use A Mileage Tracking App

One of the biggest tax deductions for an independent contractor, small business  owner, salesman, Lyft/Uber driver or freelancer is vehicle mileage.  All business mileage is deductible, and for 2019, the rate is $0.58 per mile.  Driving just 5,000 business miles in 2019 means a deduction of $2,900! To claim the deduction, the IRS requires a […]

Steps to Take Now to Get a Jump on Next Year’s Taxes

Tax planning is for everyone. Get ready today to file your federal income tax return next year. Adjust your withholding or make a tax payment If you received a smaller refund than expected or owed an unanticipated tax bill this year, consider adjusting your withholding to help protect against having too little tax withheld and facing […]

New Business Owner? Schedule a business records review before year end.

QuickBooks, Wave, FreshBooks, and others are great programs, but you have to know how to use them to take advantage of them. Many new business owners see the advertising, try these products and do the best they can, but end up needing help to clean up the records at the end of the year. If […]

3 Ways to Thank Your Customers This Thanksgiving

As we get close to the end of the year, now is the perfect time to thank your customers for their support all year long. Thanking your customers not only rewards them for choosing your business, but also helps build strong customer relationships and enhances customer loyalty. The end result: Customers feel more connected with […]