Mark E. Buckley


Here are several articles about taxes. I am not an accountant or CPA. However every business decision is ultimately a financial decision. Likewise, every financial decision has tax consequences.

I have helped business manage their paperwork and set up their accounting systems. Most of these articles are specific to those projects.

This is one area where entrepreneurs should definitely delegate. The time involved in keeping up with all the changing tax laws is significant. Hire an accountant to handle your taxes. If possible, hire a bookkeeper to handle the weekly data entry.

Most accountants are now requiring their small business clients to enter their transactions into Quick Books, Quicken or another program. You will need an employee or contracted bookkeeper to handle this for you.

That being said, you should still have a general understanding of how your tax bill is calculated.

If you decide to spend money on equipment or vehicles, how will that affect your tax burden. The novice entrepreneur often inflates the tax deduction benefits of their purchase. They somehow believe an expense of $1,000 will save them $1,000 in taxes. In fact the savings might be $400 or even $0.00 depending on your marginal tax rate.

The other challenge is that the systems you use for generating your tax paperwork are often completely isolated from all the other systems you use to manage your business. You may use sales management software, customer management software, inventory software, scheduling software, and others.

Believe it or not, this can be overcome with a thoughtful use of existing technologies such as Access, SQL and XML.