There has been some confusion with the what is included on the new Form 1099-K form and what belongs elsewhere. Here is an update for clarification on credit card payments that may be useful in your business tax preparation. On the directions to Form 1099-MISC, the IRS has made it clear that payments made with a credit […]
Business Taxes
Small Business Tax Relief – Back Taxes
While taxes for 2011 are due in April, it is important to take care of any IRS notices and bills from past years that were not paid when due, called back taxes. Here are some frequently asked questions about back taxes in relation to business tax preparation. What back tax issues are commonly encountered by small […]
Business Tax Issues of the Self-Employed
Due to the complexity of tax law as it applies to self-employed individuals, the best tax strategy available is often to enlist the help of a qualified tax professional to handle all business tax preparation. Many self-employed taxpayers do not know how to use available tax deductions to reduce their tax liability and therefore end […]
Business Tax Tips | Employment Taxes
When starting or expanding a business, it is important to know how to deal with employment taxes. While they seem to be automatic when you are an employee, employment taxes are calculated and withheld by the businesses and then paid to the IRS. Here is more information on employment taxes for your business to help […]
Business Tax Records—What Records to Keep and When to Shred
Are you never quite sure what original information to save after you file your annual tax return? In this article, we discuss what business tax documents you must keep and how long to keep them. Good bookkeeping is difficult to manage for many businesses. Let’s face it—your priority is to keep the business running from […]