Taxes Articles

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    Avoid a Tax-Time Surprise by Planning Ahead

    by 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…

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    5 Keys to a Successful Relationship With Your Tax Accountant

    by 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…

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    How to Get Organized for Filing 1099s

    by on November 13, 2013

    The 2014 tax season is fast approaching, which means small-business owners who pay independent contractors must prepare to file 1099-MISCs. Like W-2s for full-time employees, 1099s for freelancers must be filed to the IRS — and mailed to the taxpayers who wo…

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    Do You Have a Hobby or a Business?

    by on October 15, 2013

    It can take time for entrepreneurs to realize their dreams. Often new ventures are nurtured on the side for years while their owners continue to earn steady paychecks from someone else. But at what point does your “hobby” become a business for IRS purposes…

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    What You Need to Know About Hiring Short-Term Employees

    by on October 8, 2013

    The hiring of short-term, seasonal, contract, or otherwise temporary employees is on the rise among U.S. businesses. In fact, the nation’s labor force currently includes more temp workers than ever before — some 2.7 million people, according to The New Yor…

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    Should You Finance a Business With Your 401(k)?

    by on October 2, 2013

    Launching a business takes money, and many entrepreneurs have turned to their 401(k)s to provide startup capital in recent years, The New York Times and Reuters report.

    Bypassing the banks by using your 401(k) can be a complicated and risky move. But if you…

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    Restaurant Owners: New IRS Policy on Tips Coming Soon

    by on September 30, 2013

    It’s common for U.S. restaurants to automatically add a gratuity to the bill for large parties. But a new IRS rule, scheduled to take effect in January 2014, may make this practice a thing of the past. That’s because these built-in tips will increase the b…

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    Accept Credit Cards? You May Be an Audit Target

    by on September 3, 2013

    If you accept credit cards at your place of business, the Internal Revenue Service may have its eye on you.

    According to CNNMoney, the IRS has sent letters to 20,000 small-business owners over the past year to verify that they’ve reported all of their cash …

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