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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 ... -
Slash Your Federal Tax Bill with Income Tax Credits
A tax credit is a dollar-for-dollar reduction of tax liability. During COVID-19, much attention has been focused on employment tax credits for paid sick leave, ... -
Charitable Giving and Your Business
The pandemic has created a great need in a number of communities and for a number of special causes and organizations. But charitable giving is ... -
Tax Deferral from 2020: Time to Pay Up
Due to the pandemic and the desire of the federal government to keep more money in the hands of businesses and individuals, there were certain ... -
The Other Business Taxes: What You Need to Know
Taxes are a cost of doing business. Typically, the focus is on income taxes, but other business taxes deserve equal attention. Here are some issues ... -
Audit Vulnerability for Small Businesses
The word “audit” can send chills down almost anyone’s spine. For small business owners, this scary prospect not only involves emotional stress, but also the ... -
10 Things to Know about Business Meals
You gotta eat, right? But when it comes to meals, what’s business and what’s personal? If it’s personal, nothing is deductible, but if it’s a ... -
Are Taxes a Joke?
Are taxes a joke? Certainly not when you have to complete a tax return and pay the taxes. But over the years, there have been ... -
Figuring Your Estimated Taxes for 2021
The first installment of estimated taxes for 2021 is due April 15, 2021. This deadline applies even though the due date for filing 2020 individual ... -
When State Taxes Don’t Follow Federal Rules
Many businesses focus on the impact that federal taxes have on their companies and their owners. But don’t overlook the impact of state taxes. In ... -
Recovery Strategies: Using Tax Credits to Hire and Retain Employees
“To win in the marketplace you must first win in the workplace.” Doug Conant, former President and CEO of the Campbell Soup CompanyYour staff is ... -
Supplement to J. K. Lasser’s 1,001 Deductions and Tax Breaks 2021
by Barbara Weltman The COVID-19 pandemic triggered numerous changes in tax law as reflected in the book. But tax law is not static and ... -
Tax Losses for Owners of Pass-Through Companies: What to Know
Small business owners by their nature are optimistic, as evidenced by various surveys (e.g., GGV Capital found that 83% of owners thought they’d do better ... -
Roundup of COVID-19-Related Breaks for Self-Employed Individuals
Much of the government relief provided to small businesses was keyed toward their employees. They could qualify for the SBA’s EIDL grant of $1,000 per ... -
5 Ideas for Self-Growth for Business Owners
A quotation from Benjamin Franklin that’s taped to my monitor says, “an investment in knowledge pays the best interest.” Business owners who continue to ...
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.
