I enjoy using Twitter and find it useful in promoting helpful information. This week I'm providing small business tax information in the form of "tweets" and hoping you'll share them with your followers.
Here's a list of tax tips that I thought would be especially beneficial to small business owners (hashtags included!).
- #Taxes are part of doing #business. No fun. Avoid problems w/ #IRS
- Find info thru #IRS #smallbiz/self-employed portal http://1.usa.gov/PcUXWi
- Even better, #self-employed individuals have their own landing page for info from IRS http://1.usa.gov/QPxr1O
- #IRS videos at http://1.usa.gov/gNVpDZ provide #smallbiz help on biz income/expenses, disasters, audits, retirement plans, etc.
- Follow #IRS news on Twitter @IRSnews; no comments from public can be made here
- Doing well in '13? You may owe new additional Medicare #tax on your earnings this year http://1.usa.gov/R7HGxn
- 0.9% additional Medicare tax is only on the employee or self-employed person; no employer matching http://1.usa.gov/R7HGxn
- Estimated #taxes for self-employed in 2013 cover income tax, self-employment tax, and additional 0.9% Medicare tax (if applicable to you)
- Is your #business exempt from shared responsibility for health care in 2014? Determine this now http://1.usa.gov/VdgrEM
- 50 or more full time/full time equivalent (FTE) employees trigger employer mandate
- Enough part-timers can put you over 50-employee limit; ck for FTEs http://1.usa.gov/VdgrEM
- Expect IRS scrutiny on #worker classification to increase because of 50-employee limit
- #Small employer health care credit continues for 2013; changes in credit for 2014 http://1.usa.gov/RB702M
- Simplified #home office deduction available for 2013 (not on 2012 returns) http://1.usa.gov/QQbtPj
- Using simplified method avoids #depreciation recapture on #home sale
Watch for new tweets for #smallbiz @BarbaraWeltman