Best Financial Advisors in Manassas, VA

Generally to be deductible, a business expense must be both ordinary and necessary. An ordinary expense is one that is common and accepted in your trade or business. A necessary expense is one that is helpful and appropriate for your trade or business. An expense does not have to be indispensable to be considered necessary.

Simply put, your breakeven point is when your total sales (revenue) is equal to your total expenses (costs). At this point you have neither made a profit or a loss.

At Pinnacle Accounting, our goal is to not just have your books done, but to also help you grow your business consistently, through evaluation of your circumstances and providing a customized package to grow your business.

The structure of your business will depend on several factors, and what you intend to achieve as a business owner, as one size does not fit all. Each business structure, has both advantages and disadvantages. What may work for one, may not work for another due to varying rules and regulations across state lines. A professional is strongly recommended to help make such a decision.

As a citizen, your tax obligations, is to correctly calculate all applicable taxes under tax law and pay it to the governing authorities by its due date.