Taxes Articles

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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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    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.


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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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