Bastian Accounting Blog

Business Entity Basics

Whether you are moonlighting, part timing, freelancing or going all in with a  full-time gig. If you provide goods or services in exchange for currency you are in fact, operating a business. When starting your own business there are some basic things you need to know...

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The Accidental Partnership

A Partnership can be advantageous when set up and executed properly. However, they can also be setup accidentally and this can be stressful and harmful to a new business. Be careful how you start your business if you are working with a relative or friend make sure you have it in writing that you are not forming a partnership. Be careful who you borrow money from and make sure you have in writing that the borrowing of the money does not give them ownership in your business.

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Holiday Party Deduction

Soon it will be the most wonderful time of the year. Hosting a holiday party is a great way to boost holiday spirit and employee morale. It’s even better when you can deduct the cost of the celebration. How can I deduct 100% of the cost? You read that right, you can...

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The Mystical Home Office Deduction

Who can take this deduction? Self-Employed or Small business owners who meet the following two rules: You must use the space exclusively and on a regular basis to conduct business. You must use the space as your principle place of business. Employees who meet the two...

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