Business Tax Stories
Using Small Business Tax Planning Tricks is the process of looking at various tax options to determine when, whether, and how to conduct business and personal transactions Continue reading Small Business Tax Planning Tricks
More than 52 percent of businesses today are home-based businesses. Every day, people are striking out and achieving economic and creative independence by turning their skills into dollars. Garages, Continue reading Home-Based Business Considerations
During your Tax Planning efforts to maximize travel and entertainment tax deductions, you must understand that tax law allows you to deduct two types of travel expenses related to your business, local and what the IRS calls Continue reading Maximize Travel and Entertainment Tax Deductions
Tim, who owns his own business, decided he wanted to take a two-week trip around the US. So he did — and if you follow his process you can make your vacation tax deductible too … legally deducting every dime that you spend on your Continue reading Make Your Vacation Tax Deductible
The IRS sends millions of letters and notices to taxpayers for a variety of reasons. Many of these letters and notices can be easily dealt with without having to call or visit an IRS office. Here are eight things you should know about if you receive a notice or Continue reading Resolving a Notice from the IRS
If you’re one of the more than 3.4 million taxpayers claimed deductions for business use of a home (commonly referred to as the home office deduction), don’t forget about the simplified home Continue reading Simplified Home Office Deduction
How can you maximize your business car deduction? Whether you’re self-employed or an employee, if you use a car for business, you get the benefit of business car deductions on your taxes.
There are two choices for claiming your Continue reading Grab These Business Car Deductions!
Millions of Americans have hobbies such as sewing, woodworking, fishing, gardening, stamp and coin collecting, but when that hobby starts to turn a profit, it might just be considered a business by the IRS.
Definition of a Hobby vs. a Business
The IRS defines a hobby as an activity that is not pursued for profit. A business, on the other hand, is an activity that is carried out with the reasonable expectation of earning a profit. Continue reading Hobby or Business? Why It Matters
If you start a business, one key to success is to know about your federal tax obligations. Not only will you probably need to know about income taxes, you may also need to know about payroll taxes as well. Here are five basic tax tips that can help get your business off to a good start. Continue reading Basic Tax Tips for New Businesses
Tax law allows you to deduct two types of travel expenses related to your business, local and what the IRS calls “away from home.” Continue reading Travel & Entertainment Tax Benefits
