New York City Council is considering making cuts to the city’s commercial rent tax. The tax consists of a 3.9 percent surcharge on annual rents of more than $250,000 for stores and select businesses located south of 96th Street in Manhattan. New York Commercial Rent Tax Originally enacted in the 1960s, the tax covered businesses […]
American voters are in favor of tax reforms to support farmers ranch families and other agricultural small businesses, a new survey has found. American Farmers Need Tax Relief According to the study, seven out of 10 voters agreed passing tax reform legislation should be a priority for Congress. “Americans are ready for tax reform, and
As part of the Taxpayer Bill of Rights posted by the Internal Revenue Service (IRS), taxpayers, including small businesses, have the ability to appeal and resolve any disagreement you might have with the IRS. To simplify the appeals process, the agency just announced a new web-based virtual conference option you can use from anywhere. One
Children can be difficult, but they all become worth the trouble at tax season. From tax deductions to credits, there are many tax codes designed to lighten the burden for parents. If you own a business, there is another way to save big using your children: by paying them and then writing off the expenses.
Is Your Child Ready for a Paycheck? Hire Your Kids and Get a Tax Break Read More »
As if taxes weren’t enough, the IRS can add interest and penalties for certain action you may take or fail to take. There are over 150 civil penalties in the Internal Revenue Code. Tax penalties can be costly and they’re not tax deductible. Here is a roundup of some tax penalties that can impact small
