TaxConnections
TaxConnections Worldwide Directory of Tax Professionals is an authority site of tax advisors from around the world. As the leaders in our market vertical, you can find and interact with tax professionals in corporations, law firms, public accounting firms, tax services firms, government and academia in one click. Through our innovative technology, we maximize the exposure of a tax professional’s expertise and services to the more than one billion people who go online for tax advice each year.
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I’m Crowdfunding: Is It Taxable?
Crowdfunding through Internet sites such as gofundme.com and kickstarter.com have become convenient and often successful vehicles for fundraising.
Writing Off Your Startup Expenses
Business owners—especially those operating small businesses—may be helped by a tax law allowing them to deduct up to $5,000 of the startup expenses in the first year of the business’s operation.
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.
Freelancer? Avoid These “7 Deadly Sins” at Tax Time
In separate reports, Zen99 and the consumer finance website nerdwallet ranked Los Angeles the best city for freelancers. In 2012, 12% of people in Los Angeles reported themselves as self-employed.
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.
Unrelated Business Taxable Income
Non-profit organizations in the United States do not pay income tax on their “income.” However, when a non-profit ventures into certain business activities, it will owe income tax on this income, termed “unrelated business taxable income (UBTI).”
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.
How Do I Set Up My New Business for Tax Purposes?
New business owners often ask, “How do I set up my business for tax purposes?” One of the choices you make when starting a business is the type of legal organization you select. This decision can affect how much you pay in taxes, the amount of bookkeeping and paperwork required, the personal liability you might be responsibility for, and your ability of borrow money.
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?
Good Accounting Habits for Small Business Owners
The biggest headache for small business owners is getting and staying organized. If running your own business sucks up your day, being successful is going to be that much harder for you.