“Small business owners” are part of the tax reform conversation that is underway, but what does this term mean? The Treasury’s Office of Tax Analysis … Read more about Defining Small Business for Tax Reform Purposes
Sole Proprietorships on the Rise
Recently released IRS statistics for 2014 show that there is a growing number of sole proprietorships in the U.S. Sole proprietorships are taxpayers … Read more about Sole Proprietorships on the Rise
Planning for Year-End Bonuses
Has 2016 been a good year for your business? The time is growing short for you to address the matter of year-end bonuses. According to the 2016 … Read more about Planning for Year-End Bonuses
What to Do if You Can’t Pay Your Employment Taxes?
Cash is tight and you are in a quandary about whether to pay your quarterly employment taxes to the federal government or pay your supplier for … Read more about What to Do if You Can’t Pay Your Employment Taxes?
What Does a Trump Presidency Mean for Small Business?
Congratulations to Donald Trump, who is now the President-Elect. With the election in our rear view mirror, now’s the time to focus on the … Read more about What Does a Trump Presidency Mean for Small Business?
The Language of ACA
When then-majority leader Nancy Pelosi said “we have to pass the bill [Affordable Care Act, or ACA for short] so you can find out what is in it,” she … Read more about The Language of ACA
Is it Time to Revisit Your Estate Plan?
Do you already have an estate plan? When was the last time you reviewed it? Changes in your life, your business, and the world, are all good … Read more about Is it Time to Revisit Your Estate Plan?
Getting Health Coverage for 2017
The last quarter of the year is packed with activities for a small business owner, including year-end planning and budgeting for next year. One … Read more about Getting Health Coverage for 2017
J.K. Lasser’s Small Business Taxes 2017
I’m proud to say it’s the 23rd year of the original publication, and it’s all new for 2016 returns and year-round tax planning. As had been my … Read more about J.K. Lasser’s Small Business Taxes 2017
What Happens if You Become Disabled?
According to Council for Disability Awareness, the chances that a working person will experience a disability are high. For example, a female, age … Read more about What Happens if You Become Disabled?
10 Ideas for Avoiding Waste
Benjamin Franklin said it best: “Waste neither time nor money, but make the best use of both. Without industry and frugality, nothing will do, and … Read more about 10 Ideas for Avoiding Waste
What Do Tax Stats Tell Us about Small Business?
The IRS released statistics on 2014 income tax returns filed by individuals. It includes income and losses reported by sole proprietors on Schedule … Read more about What Do Tax Stats Tell Us about Small Business?
Should You Give Your CPA Power of Attorney?
In order for the IRS to discuss your tax issues with your CPA, you must sign IRS Form 2848, Power of Attorney and Declaration of Representative to … Read more about Should You Give Your CPA Power of Attorney?
Tax Issues for Spouses Co-Owning Businesses
No one knows how many businesses in the U.S. are co-owned by spouses. A professor from Oklahoma State University estimated in 2000 that there were … Read more about Tax Issues for Spouses Co-Owning Businesses
What are the Tax Consequences of Your Crowdfunding Efforts?
When you raise money for your business through crowdfunding your goal is to have the funds needed for a specific purpose. The last thing you probably … Read more about What are the Tax Consequences of Your Crowdfunding Efforts?
