Have you ever wondered if your state’s tax system is business friendly? Check out the top 10 states with the best state business tax climate and the top 10 worst states in terms of tax friendliness to businesses.
Tax preparation season is just around the corner, which means it’s time to get out the books and go over your small business operations as you prepare all those required tax forms. Learn the advantages and disadvantages of hiring a tax professional full time.
Getting ready to file your first tax return for your new business? Regardless of what type of business you started last year, there are some important things that you should be doing to get ready to file your first return.
The estate tax, also called inheritance tax or death tax, is a costly burden for small family-owned businesses. It is a tax that will not only affect children of the moneyed elite, but those who run successful businesses. Learn how estate taxes can potentially affect you.
What are the benefits of hiring family members, especially your kids, for your business? Learn the advantages of working with family members, especially your kids, in your small business.
It’s start of the year, and it’s time to prepare your taxes for the past year. Bernard B. Kamoroff, C.P.A., author of the book “422 Tax Deductions for Businesses and Self Employed Individuals” (8th edition) offers a number of tips to help you save on your taxes: Tax Tip 1. Your business expenses are deductible […]
In an effort to narrow the tax gap, IRS has been going after eBay and other auction sites for years. The IRS estimates that unpaid taxes from individuals, as opposed to big corporations, account for more than 70% of the tax gap. And within that group, the self-employed are considered the biggest offenders comprising roughly […]
While the powers that be in Washington debate how the country should deal with the Social Security system and private accounts, small business owners have to make their own decisions about funding retirement. From a tax viewpoint, this is all about deferring tax from the present to the future, and meanwhile compounding your earnings pre-tax. […]