Posts Tagged ‘Taxes’
8 Tax Law Changes for 2015 You Need to Know
Happy New Year! As you prepare your taxes to be filed by April 15th based on 2014 IRS requirements, it’s smart to look ahead to some of the 2015 tax law changes that will impact your filing situation this year—and when you file in April 2016.
Read More 7 Things You Should Do to Prepare for Tax Season
The 2015 IRS tax-filing season is right around the corner. It officially kicks off on Tuesday, Jan. 20 when the IRS will begin accepting both paper and electronic returns.
Read More 7 Legal Issues Your Small Business Should Have Covered
No small business owner likes thinking about their legal needs. But like it or not, the law can have a major impact on your small business. From protecting your creations against copycats to negotiating the best deals with vendors, getting the legal side right is crucial for your business’s success.
Read More 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).”
Read More Can Business Owners Deduct Holiday Gifts on Their Tax Returns?
With the holiday season in full swing, many of us are in a gift-giving mood. So this begs the question: Does the IRS allow business owners to write off gift expenses as a tax deduction when filing with Uncle Sam?
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 5 End-of-Year Tax Tips to Cut Your Taxes Before 2015
With Thanksgiving and the holiday season upon us, it’s easy to get caught up in buying turkeys and finding stocking stuffers for the grandkids. However, it’s also a great time to start thinking about reducing your taxes and planning for April 15th.
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 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.
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?
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