Estimated Tax Payments for Small Business Owners

As a small business owner, you follow a different set of tax rules than your employees. Making estimated tax payments throughout the year is required and should be handled in a way that's not particularly burdensome.

Tax Rules for Bad Debts on a Balance Sheet

How do income tax rules treat bad debts? Facts: There are two provisions in the Income Tax Act (ITA) for bad debts. Discussion: The first way to claim...

When You’re Self-Employed, “Self” is Responsible for All Tax Preparation

When you work for someone else, you only have to think about employment taxes about once a year when tax season rolls around. However,...

IRS Reveals 2017 Dirty Dozen Tax Scams

Each and every year, the Internal Revenue Service releases a list of the “dirty dozen” tax scams the agency recommends taxpayers be on the...

How to Help Your Small Business Survive a Tax Audit

If your small business is selected to undergo a tax audit, there are certain steps you can take to ensure that the outcome for your business is positive.

Nonprofit is Not the Same as Tax-Exempt

If an organization receives nonprofit status from the state upon its organization, it must take another step if it wishes to have the ability to accept tax-deductible contributions from potential donors.

Does Crowdfunding Affect Your Taxes?

Over the past few years, crowdfunding – or crowdsourcing – has been a simple and effective alternative to loans, venture capital and conventional fundraising....

The Shoulds and Should Nots of Deductions

Working for yourself means you are responsible for your taxes. There's no employer deducting from your wages as you go. Thus, it's up to you to keep track of your earnings, and very importantly, understand what you can and cannot write off as a deduction.

3 Important Multi-State Tax Facts Companies Need to Know

What do software companies need to know about when it comes to multi-state tax issues? Last year we shared an overview of nuances many...

$1,500 Home Office Deduction Option: IRS Reminder

The IRS reminded people with home-based businesses that this year for the first time they can choose a new simplified option for claiming the deduction for business use of a home.

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