on March 6, 2014
Making estimated tax payments comes with the territory when you strike out on your own. If business is predictable, it’s easy enough to send the IRS a set amount on a quarterly basis. But if your income fluctuates throughout the year, how do you ensure you d…Read » Views: 626
on February 11, 2014
Nexus, also called “sufficient physical presence,” is a legal term that refers to the requirement for companies doing business in a state to collect and pay tax on sales in that state. For example, if you sell goods or services in Los Angeles, you must fil…Read » Views: 471
on February 3, 2014
When I started a crafts business 25 years ago, I was focused solely on making art. I didn’t know anything about managing money, and I hoped that the finances would just take care of themselves.
Over time, I discovered that taking charge of my business’s…Read » Views: 258
on January 6, 2014
The U.S. Supreme Court is refusing to get involved in the ongoing dispute over the collection of sales tax on online purchases. On December 2,2013, the court declined to hear a case in which Amazon and Overstock challenged a New York law allowing the state to…Read » Views: 214
on December 20, 2013
It’s up to you to keep the appropriate records and take advantage of the available IRS income-tax deductions. There’s a fine line between cheating the system and not cheating yourself.
Here’s a look at a few of the breaks available to small-business ow…Read » Views: 456
on December 17, 2013
Tax season is right around the corner. Getting your financial house in order now can help you avoid problems later. Here are some key documents to gather as the calendar year draws to a close.
Income Records — If you worked for an employer before becoming a…Read » Views: 328
on December 13, 2013
When you work for someone else, your employer generally withholds federal taxes from your paycheck. But when you’re self-employed, paying income tax is completely up to you. If this is your first foray into entrepreneurship, you may be wondering how to figur…Read » Views: 307
on November 27, 2013
Even if you employ a bookkeeper or an office manager to handle your day-to-day finances, you’ll want to cultivate a strong working relationship with a tax accountant.
“The best thing you can do [for your small business] is work with your CPA on a proactiv…Read » Views: 248