Tag: small business taxes
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When you sell inventory, the result is reported currently as ordinary income. You can’t exclude the income and you can’t defer it. When you sell ...
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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 ...
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In the old days, employers had to withhold money from employees’ paychecks primarily for two purposes: income tax withholding and FICA. Income tax withholding applies ...
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September is National Preparedness Month and the theme this year from Ready.gov is prepare for disasters to create a lasting legacy for you and your ...
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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 ...
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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 ...
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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 ...
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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 ...
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For more than 25 years, I’m proud to say my tax book for small businesses has been the go-to-tax-guide for owners and their tax advisors. ...
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When you’re in business, you kind of assume that all of your expenses are fully deductible. But this assumption is wrong. The tax law imposes ...
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The massive spending measure (December tax package), Further Consolidated Appropriations Act, 2020 (H.R. 1865), which was signed into law on December 20, 2019, makes an ...
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The 2020 Edition Book Review For more than 25 years, I’m proud to say my tax book for small businesses has been the go-to guide ...
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It is commonly accepted wisdom that tax rules are complicated. This belief is well supported by the conflicting tax rules that apply to business owners, ...
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I’m proud to say it’s the 25th year of the original publication, and it’s all new for 2018 returns and year-round tax planning. The new ...
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According to the SBA, about 50% of all businesses in the U.S. are home-based. More specifically, 60.1% of all businesses without paid employees are home-based, ...
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The tax law is not static. Since the publication of this book, the Tax Cuts and Jobs Act of 2017 (TCJA) as well as other ...
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When it comes to tax rules, there are many misconceptions among small business owners. While their CPAs likely will get things right when they complete ...