Lower Your Business Taxes with an LLC, or Too Good to be True?

Many entrepreneurs decide to form an LLC in order to protect their personal assets from seizure by a bank or lender, but there are several tax advantages that incentivize LLC formation as well.

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.

Writing Off Automobile Expenses 101

Now that you have started your business, you've heard you can write off automobile expenses. So are you ready to buy that luxury sports car and write off the costs of driving around town and run errands?

Businesses Should Prepare for Internet Tax Law

The U.S. Senate has passed the Marketplace Fairness Act of 2013, and it is currently under consideration in the House of Representatives. Most analysts feel confident that some version of the law will pass although it isn't yet clear what changes might be made.

5 Tax Issues That Cause IRS Trouble for 1099 Workers

Are you a freelancer or independent contractor who receives a Form 1099 instead of a W-2 form at the end of the year? If so, then you should be aware of the five tax issues that are the most likely to cause IRS trouble for anyone subject to 1099 reporting of wages or income.

Accounting Tips for Seasonal Small Businesses

Do you run a seasonal small business—one where the bulk of your revenue comes in a few months or even weeks? If you do, chances are you are all too aware of the intense nature of the season—a time when you can't possibly keep up with the workload. One of the first things that slides during a crush of activity for many small seasonal businesses is accounting.

Profit Is Not Cash

Each month, your profit and loss statement tells you whether you earned a profit or had a loss. It does not tell you how much cash you have. You must turn your profits into cash by collecting your receivables and paying the expenses incurred to produce those revenues.

Business Travel Basics

A business trip is a good opportunity to do productive work for your business while earning substantial deductions. But it’s important to know the rules and limitations of deductions for business trips. You need to be aware of what constitutes a business trip, what things are deductible, and what you need to do to support your claims. You can combine business trips with pleasure trips, but be careful to ensure your trip still qualifies.

How Much Should You Pay Your Accountant?

Finding the right accountant for your business, but so is making sure you pay the right amount. You don’t want to overpay, but your accountant also needs to hit his or her own income targets. Depending on your business situation and accounting needs, there are several arrangements to choose from.

How to Maintain a Sane Approach to Taxes

We all get stressed out around tax time. There are so many complicated, intertwined rules and regulations that it’s easy to get tripped up, especially when your focus is on building a business. here are 10 tips to maintain a sane approach to taxes.

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