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As a small business owner, at some point, you may need to hire an independent contractor. But what classifies a worker as an independent contractor, and what does that label mean for you? Read on to learn the essential information… Read More
Archive for the ‘Tax Information’ Category
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What Employers Need to Know About Form W-2
As a small business employer, you are responsible for distributing IRS Form W-2 in the new year so your employees can begin to file their federal and state taxes. Unfortunately, Form W-2 can be quite confusing. Luckily, we have a… Read More
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7 Common Small Business Tax Deductions
As you prepare to file your small business taxes, it is important to know what tax deductions you can apply to your business. Tax deductions decrease your taxable income, which means more of the money you earn gets to stay… Read More
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4 Small Business Tax Return Myths
The end of the year will be here soon and with it the end of the 2019 tax year. Although taxes are not due until April 2020, as a small business owner, you may be preparing your files and documents… Read More
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What Are Allowable Small Business Expenses?
As a small-business owner, you are probably on a tight budget despite the many expenses that continually pile-up. Fortunately, many of your business expenses are tax-deductible. If you are wondering what qualifies as a tax-deductible business expense, don’t wait until… Read More
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What Double Taxation Is And How to Avoid It
If you designate your business as a corporation, you should know about double taxation. Corporations and their shareholders are different than other business structures, which makes them subject to double taxation. Read on to discover precisely what double taxation is,… Read More
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3 Red Flags the IRS is Looking for in Your Audit
The IRS usually conducts audits through a random statistical formula, meaning that you should always be ready to be evaluated. If you’re managing your finances correctly and efficiently, you have nothing to worry about; the IRS will contact you by… Read More
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Should You Count by Mileage or Actual Vehicle Expenses?
What’s the best way to claim your business auto expenses on your tax return? It depends. The first year you put the vehicle in service, you have a choice between two methods. You can use the actual expenses method or… Read More
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New 1099 and W2 Filing Deadlines for 2017
Tax season can come with a lot of headaches for employers—creating W2s and 1099s for a roster of employees and independent contractors, keeping filing deadlines straight, and keeping track of your personal taxes. Thanks to changes in tax law, the… Read More
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Financial Goals to Strive For by the End of January 2017
It’s important to start your financial planning at the beginning of the year; organization is key when it comes to handling funds. And when you’ve got so much going on in January, it can be difficult to keep track of… Read More