More in Taxes
Tax season won't get underway for a few more months, but now's the time to start planning ahead. Waiting until the last minute to get your records in order could easily increase your odds of making a critical error on your return, and it significantly elevates your stress level. To make tax time go as smoothly as [...]
Most small-business owners would say one thing they would meticulously avoid if given the chance is a tax audit. But rather than living in fear of the unknown, let’s take a look at some of the most common triggers for a small-business tax audit. The IRS uses a computer program called the Discriminate Function System [...]
With each tax deduction you take, you reduce your overall tax burden. Learn how to take advantage of these top tax write-offs this tax season.
If your business is audited by the IRS, and the auditor rules against you but you believe the ruling is in error, you can use the IRS appeal process.
If you've been watching the financial news over the past year or so, you may have heard quite a bit about this thing called “bitcoin." You may have also heard that it is a new type of currency, and thought about using it in your business. If you do decide to accept bitcoin, how will [...]
Understanding who does and does not need to pay quarterly taxes is the best way to protect your bank account from steep penalties at tax time.
April 15 always strikes fear in the hearts of many small business owners. That's the IRS tax-filing deadline, and if you fail to meet it, you could face some costly penalties. However, by filing a tax extension, you can buy some extra time to review your books, collect data and receipts, evaluate whether you have included [...]
Whether you’re a freelancer, consultant or small business owner, every purchase you make that doubles as an investment for your business may betax-deductible. The Internal Revenue Code allows you to write off all “ordinary and necessary” expenses required to operate your organization as deductions. Examples of Business Tax Write-Offs Business tax write-offs are numerous and can apply [...]