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
When Hobby Activities Are Businesses
The Treasury Inspector General for Tax Administration released a report that chided the IRS for losing more than $70 million by not correctly … Read more about When Hobby Activities Are Businesses
Zero Capital Gains Tax on Your Company Stock?
If your business is incorporated, when you sell your stock, the gain usually is taxed at 15% or 20%, depending on your tax bracket (which is based in … Read more about Zero Capital Gains Tax on Your Company Stock?
How Big a Truck Do You Need?
If you’re in the market for a new truck for your business this year, tax rules may impact your buying decision. This is because of the convoluted … Read more about How Big a Truck Do You Need?
Spring Cleaning for Your Tax Records
You’ve finished your tax return for the year, but your work isn’t done. It’s time to put those records away and begin to focus on keeping track of … Read more about Spring Cleaning for Your Tax Records
A Look at 2015 Tax Filings and Audits
April may be the month for cherry blossoms in the U.S. capital, Earth Day celebrations, and, according to T.S. Eliot, “the cruelest month,” but it’s … Read more about A Look at 2015 Tax Filings and Audits
Retirement Accounts and the Unrelated Business Income Tax
It’s perfectly legal for IRAs or 401(k)s to own your business. (I wrote a lengthy piece about this for the SBA). Those who put the ownership of … Read more about Retirement Accounts and the Unrelated Business Income Tax
Work Opportunity Tax Credit: What’s New?
The work opportunity tax credit is a federal tax credit intended to encourage employers to hire workers from certain targeted groups. The credit had … Read more about Work Opportunity Tax Credit: What’s New?
