The BayTown Group

01/29/2025

03/04/2024

It's National Women in Construction Week! So to those women in the trenches, answering the phones or doing to financials, know that you're appreciated each and every day!



https://wicweek.org/?fbclid=IwAR1GO86CljA-W1lOzoqQ9LfqWjuY0X5mMzNVYAKJiqDvftW9PfgvBKhejs4

WIC Week™, or Women in Construction Week™, celebrates and promotes the role of women in the construction industry. Founded by NAWIC.

02/08/2024

Fall Back In Love With Your Business! Let us help make that love connection!

09/01/2023

Avoid the IRS headaches as much as possible! Stay on top of your finances and taxes by staying organized throughout the year or hiring a professional if you need support.

08/15/2023

Construction companies have to make difficult choices among many financial alternatives, like bidding on one project over another, selecting financing for materials or equipment, or setting a project’s profit margin. On top of that, construction is a notoriously volatile industry with a high failure rate, slow time to payment, and inconsistent cash flow.

Learn more, click below.

Take a look at our BLOG page. The Baytown Group is a full service tax, accounting and business consulting firm located in Knoxville, TN and in the Burlington, VT, area.

08/10/2023

Tax Implications When Employed in the Family Business
When a family member employs someone, the tax implications depend on the relationship and the type of business. Taxpayers and employers need to understand their tax situation. Here is what to know:
Married People in Business Together
Generally, a qualified joint venture whose only members are a married couple filing a joint return isn't treated as a partnership for federal tax purposes.
Someone who works for their spouse is considered an employee if the first spouse makes the business's management decisions and the second spouse is under the direction of the first spouse.
The wages for someone who works for their spouse are subject to income tax withholding and Social Security and Medicare taxes, but not to FUTA tax.

Read more ...

Take a look at our BLOG page. The Baytown Group is a full service tax, accounting and business consulting firm located in Knoxville, TN and in the Burlington, VT, area.

07/30/2023

QuickBooks for a More Productive and Prosperous 2023
With the new year well underway, it is time to assess where you are with your finances and consider where you'd like to be.

As you may have discovered, running related reports in QuickBooks and communicating with your customers and vendors can go a long way toward meeting those obligations- but there's more you can do to prepare for the coming year.

Take a look at our BLOG page. The Baytown Group is a full service tax, accounting and business consulting firm located in Knoxville, TN and in the Burlington, VT, area.

07/28/2023

Virginia Oliver, a 103-year-old lobsterman in Maine, has been in the profession for almost a century. The mother of four has inspired a children's...

07/15/2023

Here are 5 accounting tips for small startups:
1. Have a Clear Understanding of Your Business Model: Before you can accurately track your income and expenses, you need to understand your business model. What products and services do you offer? What are your pricing structures? How will you capture revenue? This will help you determine the type of accounting system you need and the way you structure your financial accounts.

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Take a look at our BLOG page. The Baytown Group is a full service tax, accounting and business consulting firm located in Knoxville, TN and in the Burlington, VT, area.

07/11/2023

Small Business: Deducting Startup Costs

If you've recently started a business - or are thinking about starting a business - you should know that as an owner, all eligible costs incurred before you began operating the business are treated as capital expenditures. As such, they are part of the cost basis for the business.
Generally, the business can recover costs for assets through depreciation deductions. Businesses with costs paid or incurred after September 8, 2008, can deduct a limited amount of start-up and organizational costs enabling business owners to recover the costs they cannot deduct currently over a 180-month period. This recovery period starts with the month the business begins to operate active trade or as a business.

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Take a look at our BLOG page. The Baytown Group is a full service tax, accounting and business consulting firm located in Knoxville, TN and in the Burlington, VT, area.