Posts Tagged ‘IRS’
Mark Your Calendar: New Deadlines for IRS Business Taxes
We all know April 15 has been the traditional American Tax Day for generations. Some business taxes have also commonly been due by this day. However, Congress recently announced that the IRS will change several key tax deadlines for small business owners who’ve been used to using the same tax calendars each year. These tax…
Read MoreShould I Expense This? Business Expenses vs. Personal Expenses
Even the best-intentioned employees can fall into the trap of mixing business expenses and personal expenses. Business expenses are deductible for federal tax purposes.
Read More Be Ready to Protect Your Money When the IRS Audits
We can all expect to get bad news occasionally throughout our lives and for most of us, the good news outnumbers the bad, so we shouldn’t complain too much. However, that’s hard to remember when you receive a letter from the IRS notifying you of an audit; an experience I was treated to not long ago.
Read More 8 Tax Scams to be on the Lookout for in 2015
There seem to be more and more tax scams that rear their ugly heads each year. The IRS does its best to combat these issues that can result in billions of dollars being stolen from innocent taxpayers.
Read More 5 Payroll Tax Mistakes to Avoid
If you have at least one employee, you are responsible for payroll taxes. These include withholding federal (and, where appropriate, state) income taxes and FICA tax from employees’ wages as well as paying the employer share of FICA tax and federal and state unemployment taxes.
Read More 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.
Read More Top Tax Write-Offs That Could Get You in Trouble with the IRS
From travel expenses to paying wages to family members, there’s no limit to what people will try to write off at tax time for the sake of their business. But where do you draw the line? Which write-offs you’re trying to write off go too far?
Read More Payments to Independent Contractors
Payments to Independent Contractors can be a very grey area within the tax law. Often times I am asked the question, “Should my employees be given a W-2 or Form 1099-MISC for there pay?”
Read More States Turn to Technology to Narrow the Tax Gap
Each year, the IRS and states alike, estimate the difference between taxes owed and taxes collected. This difference, known as the “tax gap,” has been steadily growing at both the federal and state level over the past several years.
Read More R&D Tax Credit Can Now Be Claimed on Amended Returns
With so many rules and regulations in the small business landscape, entrepreneurs across the nation are rejoicing over some much welcome news from the IRS and the U.S. Treasury Department that could help save them a ton of money.
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