Taxes Articles

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    5 Tips to Help Artists and Crafters Manage Their Finances

    by 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…

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    The Online Sales-Tax Stalemate Continues

    by 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…

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    7 Tax Breaks for Small Business to Consider for 2013

    by 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…

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    Preparing Year-End Finances for Seamless Tax Filing

    by 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…

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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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