Taxes Articles

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    Is It Time to Incorporate Your Business?

    by on August 30, 2013

    If you’re like most small-business owners, you probably started your operation as either a sole proprietorship or, if you had co-owners, a partnership. This company structure is the simplest and least costly to set up, with less paperwork required.

    However,…

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    A Financial To-Do List for New Entrepreneurs

    by on August 29, 2013

    Entrepreneurs: Prior to embarking on any new business venture, you need to make sure that your financial house is in order. Here’s a to-do list to help you do just that.

    1. Clear up existing debt. Substantial debt and limited cash flow can hinder your busin…

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    5 Ways Retailers Can Prepare for Sales-Tax Holidays

    by on July 23, 2013

    Unless your store caters to warm-weather activities, you may notice a drop-off in business in the summertime when people go away for vacation, spending less time shopping and more time relaxing.

    “Part of the challenge of the summertime in particular is it’s r…

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    Salary or Draw? How to Pay Yourself as Business Owner

    by on June 24, 2013

    Congratulations! Your small business has moved beyond the initial startup phase and is now a profitable venture. Although you may have worked for free in the early days, it’s time to pay yourself for your efforts.

    You generally have two options for taking h…

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    Businesses React to Threat of Internet Sales Taxes

    by on June 10, 2013

    The Marketplace Fairness Act, which could force many more business owners to collect sales tax on online purchases, recently passed the U.S. Senate. However, the legislation faces an uncertain future as lawmakers in the House of Representatives voice concerns …

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    Get Ready for Next Year's Tax Return Now

    by on June 6, 2013

    Small-business owners are probably thinking about paying their second quarter estimated taxes right about now, because they’re due on June 17.

    While you’re at it, why not start getting ready for the next tax season? Planning ahead will make preparing and …

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    What Is an EIN and Does Your Business Need One?

    by on May 13, 2013

    Much like a Social Security number for individual taxpayers, an Employer Identification Number — also called a Federal Tax Identification Number — is how the IRS identifies your company. Business owners use their EINs to conduct activities that would other…

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    Should You Adopt a Fiscal or Calendar Year for Your Small Business?

    by on May 6, 2013

    As an individual taxpayer, you’re required to complete and submit an annual federal income-tax return by April 15 for the prior calendar year. (The IRS sometimes moves the date to avoid Sundays and holidays.) However, if you’re a small-business owner, your…

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