Travel Expenses Decuction Travel expenses are another of those “obvious” expenses that most Sole Proprietors incur. It is also one of the most abused small business expenses, so it’s important that you understand the basic rules so as not to run...
Payroll Tax Guidelines for Entrepreneurs Many entrepreneurs do not realize how important it is to obtain payment of payroll tax to be made in time. If a late payment will be made as soon as the IRS brings to it, the penalties are stiff: 10% discount on top, plus...
Tax Tips for Unemployed Tax tips for unemployed people. In this economy, many people find themselves updating their resumes and looking for a new job. If you find yourself in this situation or know someone who is, it might be possible to deduct some of your job...
Tax Reduction – Mold Cleaning Mold removal could bring a broad grin to your face via a tax reduction – not just for being able to smell fresh air once again, but due to the tax reduction that you can obtain due to hiring a service provider to remove...
Schedule C – Deduct Commissions The Sole Proprietor has a wide variety of reputable deductible business expenses. Line 10 of Schedule C describes an expenditure that is usually overlooked. When you go to the IRS guidelines for Schedule C, there is actually no...
IRS Audits – Small Business Since 2010, the IRS has been requesting small business electronic accounting files in audits. IRS agents have even been trained in using QuickBooks and Peachtree accounting files in examinations of small business taxpayers. The main...
Tax Audit Time Limits Regarding Tax Audit time limits, each financial year on 15 April, is the due date for the filing of your income tax. Your tax return cannot be audited after 3 years from its original date of filing. In case you file it before the due date, 15...
IRS Tax Audits, Reduce Risk for Cash-Only Small Businesses Fear of an IRS tax audits is a tangible belongings in the lives of many individuals. Even if they have actually vigilantly paid all their taxes and also stated every dime they still have an anxiety of a IRS...
Deducting Business Related Vehicle Expenses As a small business owner, are you trying to find an easy method to boost costs and lessen your tax expense? Look at the car you drive everyday. The tax code states you could deduct the price of purchasing and also...
Do you give a Tax-Deductible Retirement to the workers of your Small Business? If so, this short article will clarify the ins and outs of ways to effectively deduct any type of expenditures related to such intend on your Schedule C. If you take a look at Schedule C,...
