Tax season can be stressful for small business owners. There’s all the receipts you need to get together and that’s usually just a slice of the other invoices, documents and data that needs to be corralled and made sense of. Sometimes you just need to talk with someone who knows where a piece or two […]
9 Ways to Get Free Help With Taxes from a Real Live Person Read More »
Finding out that you owe taxes can be a bit unnerving, especially if you owe more than what you expected. Don’t worry — it is not the end of the world if you’ve gone through the numbers and you’re left with a tax bill. Here are a few steps to take: Get Ahead of It You
what if you owe money on your taxes for your small business Read More »
The best way to ensure that you don’t get a bigger bill than necessary come income tax time is to double check you are getting every deduction possible. There are multiple small business tax deductions available to sole-proprietorships and other small business organizations, such as LLCs. Different Tax Deductions You Can Apply to Your Business Keep
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Some LLCs and corporations (if they meet the IRS’s eligibility requirements) may choose to be taxed as an S Corporation. But what does that mean exactly? With 2019 just beginning, now is a perfect time to consider whether an S Corp election might benefit your business. Moreover, the deadline for choosing tax treatment as an
What Are the Potential Advantages of an S Corporation? Read More »
Tax season is approaching. But for many businesses, managing taxes can be a yearlong undertaking. In fact, there are many different types of deadlines you should be aware of throughout the year. 2019 Tax Calendar Here are the most important tax dates for businesses to know in 2019. 1099 Mailing Deadline, January 31 If your
2019 Tax Calendar — All the Important Dates to Know Read More »
As of June 21, 2018, the United States Supreme Court changed the laws regarding the collection of sales tax by internet sellers. The Supreme Court ruling in South Dakota v. Wayfair Inc., established that individual states can require ecommerce retailers to collect state sales tax on the goods they sell. The ruling overturned previous law
What are the Laws for Collecting Internet Sales Tax in Your State? Read More »
Small businesses need to be aware of the Fixed and Variable Rate (FAVR) because it’s designed to reimburse employees who drive their vehicles for business. Most companies use the more familiar IRS business mileage standard, but FAVR presents another more precise option. Small Business Trends contacted Craig Powell, Motus CEO, to dig deeper into how
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As soon as the new year begins, businesses must already start thinking about the upcoming tax season. And although the US tax code is supposed to be less complicated now, the live help TurboTax is offering from its network of CPAs and Enrolled Agents (EAs) is one option to consider. According to the company, TurboTax
TurboTax Live Offers Small Business Owners Help from CPAs this Tax Season Read More »
The standard mileage rates for 2019 have just been released by the IRS and small businesses will see both a jump in the mileage standard for business travel and another big change thanks to the Tax Cuts and Jobs Act. Mileage Rates From The IRS for 2019 The IRS mileage rates for 2019 for using
IRS Standard Mileage Rates for 2019 See Increase and a Major Change Read More »
Corporations are required by state law to have an annual meeting, even if there’s only one shareholder. If you own a corporation (whether it’s a C or S), doing this chore each year ensures that you respect the corporate structure so as to help maintain your personal liability protection. At your annual meeting, review, propose
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