Posts Tagged ‘Taxes’
Independent Contractor Versus Employee?
Is it better to be an independent contractor or an employee? For a small business owner (SBO), the question mostly is how to determine what business relationship exists between the person providing the services & the SBO, and if that relationship is that of an independent contractor or an employee.
Read More 5 Things to Know About Payroll Taxes
“Making payroll”—that is, managing a small business so that paychecks are delivered on time even when the unexpected occurs—can be one of the hardest parts of a small business owner’s job. One thing certain to make that job even harder is a payroll tax mistake that can lead to IRS problems.
Read More Home Office Deduction Changes for 2013
If you use your home for business, there are expenses you can deduct on your tax return. The home office deduction is available to both home owners & renters alike. The home must be used by a self-employed individual or an employee who works from home for his employer’s convenience.
Read More Small Businesses Owe Big
Last December, the Second District Court of Appeal for California ruled in Cutler v. Franchise Tax Board that a California business incentive program violated the United States Constitution’s Commerce Clause.
Read More R is for Recapture
R is for recapture. Recapture is a term that comes into play in a variety of circumstances, but it means the taxpayer is picking up income or tax, which is always a bad thing. Recapture is most commonly applied to depreciation.
Read More TaxJar: Put a Lid on Sales Tax
I am very excited and pleased to introduce the online community to a great new company I’ve found. TaxJar is an amazing company that has created a tool nearly every online seller—and literally every Amazon FBA seller—can’t live without.
Read More 4 Steps to Take Before You Hire a Subcontractor
Your favorite customer calls you and wants you to complete a job. You have a dilemma—you can’t complete it in a timely manner, but want to keep this client happy. Hiring a subcontractor may be a great solution to your problem. But before you hire Mark or any other contractor, follow these pointers.
Read More 5 Tips to Survive a Small Business Audit
Small businesses are more likely to get selected for an IRS audit, because many of them are unfamiliar with business tax rules and often conduct transactions in cash, which leaves more room for errors.
Read More Mixing Business Trips with Vacation
If you thought your business trips can be expensive, you need to think again. If you plan and strategize, the government can subsidize your trip so that your trip expenses are minimal. The idea is to combine your business travel with vacation time and document the time spent on business.
Read More Watch Out for Indirect Tax Audit Triggers
Your odds of facing an indirect tax audit are actually higher than the odds of IRS small business tax audits. That’s because while the IRS audits 2–12% of the tax returns filed with the agency every year, some states audit up to 20% of the business sales tax reports filed each year.
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