Tag: How to Reduce Tax

Paying Sales Tax in Different States

June 8, 2016 | By | Reply More
Paying Sales Tax in Different States

QUESTION on Paying Sales Tax in Every State My partners and I recently started a business selling IT products and services. I live in Colorado, my partners in Maryland and Virginia. For various reasons we registered our Company in Delaware through MyCorp services as a corporation. We have just received our first purchase order and […]

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Non-Traditional Tax Deductions: Successes and Failures

April 8, 2016 | By | 2 Replies More
Non-Traditional Tax Deductions: Successes and Failures

Smart business owners strategically maximize their small business tax deductions. Learn some of the non-traditional tax deductions filed by business owners.

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3 Organizing Tips for Tax Time

April 4, 2016 | By | Reply More
3 Organizing Tips for Tax Time

Get 3 organizing tips that you should start doing RIGHT NOW to avoid stress when filing your income taxes at tax time. Organize your home business now.

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What to Do If You Are Audited by the IRS

April 3, 2016 | By | Reply More
What to Do If You Are Audited by the IRS

A federal tax audit is something that most Americans would rather not experience. Here are some guidelines to avoid tax audit; and if you’re one of the unlucky few, to make it as painless as possible.

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8 Tax Tips for Small Businesses and Self-Employed Individuals

February 13, 2016 | By | Reply More
8 Tax Tips for Small Businesses and Self-Employed Individuals

The IRS lists only a small number of the allowable deductions on their forms, and they are not going to tell you about a deduction you failed to take. It’s up to you. Here are a few

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Life Changes and Its Effect on Your Taxes

March 14, 2015 | By | Reply More
Life Changes and Its Effect on Your Taxes

There are a number of life changes that could significantly impact your taxes. These life events can either help you get a really big refund or increase the amount of taxes you pay.

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How to Set Your Own Salary as a Small Business Owner

February 23, 2015 | By | 2 Replies More
How to Set Your Own Salary as a Small Business Owner

The concept of setting your own salary as a business owner is essential. So how can you determine the best amount to write yourself on your own paychecks?

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S Corporation Taxes for Employees and Shareholders

November 26, 2014 | By | Reply More
S Corporation Taxes for Employees and Shareholders

We are looking at an S Corporation for our business. How does the S corporation taxes work when some receive a salary while some gets annual payment on any profits?

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A Lowdown on the Home Office Deduction

August 20, 2014 | By | Reply More
A Lowdown on the Home Office Deduction

Nowadays, it is more common than ever for small business owners to be working from home. Plus, there is another nice financial benefit they can take advantage of – the home office deduction. Learn about the home office deduction.

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Tax Time: Check If You Qualify for Home Office Tax Deductions

February 8, 2014 | By | Reply More
Tax Time: Check If You Qualify for Home Office Tax Deductions

As a home-based entrepreneur, learn whether you qualify for home office tax deductions. It is important to maximize your deductions and minimize your taxes

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Deadlines For Issuing and Filing 1099s are Approaching

February 8, 2014 | By | Reply More
Deadlines For Issuing and Filing 1099s are Approaching

IRS 1099-MISC is the form used to report miscellaneous income that you paid to persons in the course of your trade or business. Learn whether this apply to your business and when 1099s must be filed.

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Vehicle Tax Deduction for Small Business Owners

January 28, 2014 | By | Reply More
Vehicle Tax Deduction for Small Business Owners

Vehicle deductions can be great write-off opportunities for small business owners, but they are closely scrutinized by the IRS. Learn about vehicle tax deductions.

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