Posts Tagged ‘IRS’
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.
Read More Do You Owe the IRS Estimated Taxes Next Week?
Even though summer is here, that doesn’t mean you can take a vacation from handling your IRS tax obligations. There is an important tax deadline coming up next week for small business owners and self-employed professionals. Are you ready for it?
Read More Avoiding Business Bankruptcy: The Do’s and Don’ts to Merging Business and Personal Finances
It can be all too easy for a business owner to unintentionally mix their personal and business finances. Here is a closer glimpse at some of the do’s and don’ts when it comes to handling multiple financial accounts.
Read More Attacks on Small Businesses That Receive Too Much in Credit Cards
The IRS has been pushing for many years to capture cash income of small businesses and force him to pay taxes. That is one of the reasons that the IRS is requiring credit card merchant service companies to report a 1099-K for businesses to the IRS.
Read More Employers Face Stiff Affordable Health Care Act Excise Taxes
The Affordable Health Care Act (ACA) (“Obama Care”) may lead to stiff excise taxes for larger and midsize employers that misclassify employees as independent contractors.
Read More Who is Self-Employed?
The IRS considers you as a self-employed individual if you operate a business as a sole proprietor or as an independent contractor or if are a member of a partnership.
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