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You Pay Company Expenses: Who Takes the Deduction?
It’s common for business owners to pay various expenses from their own pockets. It just may be easy to do. But it can impact who ... -
Employers’ Tax Burden for Having Remote Workers
COVID-19 started a revolution in remote work arrangements. Initially, workers were forced to work from their homes because of government-mandated shutdowns. Then, workers continued working ... -
What’s Up with Form 1099-K?
Third-party payments over a threshold amount must be reported annually to the IRS. This is done on Form 1099-K. Who does the reporting, what are ... -
Cancellations Can Have Tax Consequences
Things get canceled all the time…meetings and appointments, customer orders, and leases to name a few. Sometimes cancellations are good for your business, sometimes they’re ... -
5 Things to Remember about the Home Office Deduction
The pandemic caused many small business owners to abandon their offices—and the rent for them—in favor of working from home and allowing staff to do ... -
Big Tax Break for Section 1202 Stock: Which Businesses Qualify?
Tax breaks are being pared, but one that remains is the ability of certain corporations to issue stock that owners will eventually be able to ... -
Supplement to J.K. Lasser’s Small Business Taxes 2022
The pandemic triggered numerous changes in tax law as reflected in the book. But tax law is not static and new legislation, IRS pronouncements, and ... -
Supplement to J. K. Lasser’s 1,001 Deductions and Tax Breaks 2022
Tax law is not static and new legislation, IRS pronouncements, and court decisions continue to tweak tax rules. They affect reporting on 2021 returns as ... -
Reporting Payments to Independent Contractors: 5 Things to Know
If you engage independent contractors and pay them in the aggregate $600 or more during the year, you must report payments to them and to ... -
Some Tax Issues Never Change
In the past several years, business owners have grown accustomed to adapting to many changes in tax rules. Some new rules have been temporary in ... -
The Latest Tax Statistics on Partnerships and LLCs
A partnership is not taxpaying entity, but files an annual tax return, Form 1065, to report income, deductions, and other items. These items pass through ... -
J.K. Lasser’s Small Business Taxes 2022: What's New and What's Ahead
For more than 25 years, I’m proud to say my tax book for small businesses has been the go-to guide for owners and their tax ... -
Looking Ahead to 2022 Taxes for Your Business
While your 2021 tax return hasn’t been filed and likely won’t be for many months, it’s not too soon to be thinking about taxes for ... -
What Is the Global Minimum Tax and Does It Impact Small Businesses
News headlines tout the growing number of countries that have agreed to a global minimum tax rate. At present, 136 countries, which accounts for over ... -
Escaping Federal Tax Penalties
Late with filing a tax return with the IRS? Didn’t correctly figure and pay what you owe? Did something you weren’t supposed to do? Don’t ... -
Tax Credits Ending Soon: What to Do Now
A month from now, on September 30, 2021, a number of business tax credits end. Others are scheduled to expire at the end of the ... -
Tax Breaks for Investing in Small Corporations
During the government’s 2020 fiscal year (ending September 30, 2020), there were 1.8 million C corporations and more than 5 million S corporations. While we don’t ... -
Need a Business Vehicle? Tax Considerations to Factor into Your Choices
Are you thinking about getting a car, truck, or van now? Hybrid or electric-powered vehicle? Buy or lease a vehicle? And in who’s name (the ...
SMB Taxes
Small business ideas, business tax news and small business consulting from Barbara Weltman to provide business owners with the information they need to succeed. Visit our small business blog, Idea of The Day®, small business books and articles on small business taxes, small business finance and small business legal advice.
