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?
Customize Your Tax Strategies
Tax experts, including myself, often write in generalities about tax actions that small business owners should take. The general advice may be fine … Read more about Customize Your Tax Strategies
5 Things to Do During a Slow Summer
Sylvia Plath wrote: “August rain: the best of the summer gone, and the new fall not yet born. The odd uneven time.” For small business owners, it’s a … Read more about 5 Things to Do During a Slow Summer
Worker Misclassification: How to Beat the IRS
One of the hottest issues with the IRS continues to be worker classification. Businesses may treat workers as independent contractors while the IRS … Read more about Worker Misclassification: How to Beat the IRS
What’s Your ‘ACA’ Number?
The Affordable Care Act (ACA) imposes responsibilities on certain employers. It also offers a tax break to certain employers. Who these employers … Read more about What’s Your ‘ACA’ Number?
5 Tips for Setting up a Home Office
The U.S. Small Business Administration says that 52% of all businesses in the U.S. are home-based. If you’re one of them, planning to become one of … Read more about 5 Tips for Setting up a Home Office
You May Be a Multistate Business and Not Know It
Each state has its own regime for corporate income tax, sales tax, use tax, and other revenue raisers. Typically, you are subject to a state’s taxes … Read more about You May Be a Multistate Business and Not Know It
On-Demand Economy and Taxes
The U.S. Census Bureau reported several years ago that self-employed and microbusinesses (no more than 9 employees) made up over 78% of small … Read more about On-Demand Economy and Taxes
