Taxes Information
Small Businesses Filing Amended Federal Tax Returns to Recover Money
Like millions of small businesses, you may have unknowingly overpaid your federal taxes and can recover money by filing an amended return.
According to the IRS tax code, you have three years from the filing date for the tax year in question to file an amended return.
Alas! In E-Commerce Taxland
You are trying to comply with tax laws for your e-business,
but you may find yourself falling down the rabbit-hole,
going through the looking glass, and attending a Mad
Tea-Party. Common sense, logic, and fairness never did apply
fully to taxes but this is especially
true of e-commerce transactions.
How Home-Based Businesses Can Avoid Giving Uncle Sam More than His Share
Over 300 million was paid unnecessarily to the IRS by small businesses in 1998. With the rush to file your taxes on time, you probably did not consider the possibility that you overpaid.
Need an Offshore Sales Office in a Tax Free Environment?
Many savvy businesses have offices in tax free environments including the Bahamas, the tiny Cayman Islands, Hong Kong and the Channel Islands.
Plan Ahead For Maximum Tax Savings
Reducing your taxes increases your business profits. By planning ahead, you can lower your income and other taxes significantly.
Organizing Your Taxes
Does this sound familiar? It's April 10th. You haven't seen the top of your dining room table in weeks because of the piles of receipts, canceled checks, paid bills, and unidentified cash register receipts covering it.
Seven Key Tax Deductions for the Self Employed
As a sole proprietor, you should familiarize yourself with the key deductions that may reduce your tax bill. Small-business consultants generally recommend that you hire an accountant to prepare your tax returns, payroll and financial statements.
Set Up A Tax-Saving Bookkeeping System
Does your bookkeeping system save you money at tax time?
One of the most important, but least understood or appreciated aspects of any business is its bookkeeping or accounting system. Because very few people know much about the reasons for a bookkeeping system, most people are frightened by the thought of the work involved in setting up such a system, and the drudgery of daily maintenance.
Avoid the Knock-Knock-Knock
Who's there? The IRS! Network marketers who
receive a form 1099 at the end of the year, and/or who
are expected to owe $1,000 or more in taxes, must file
a form 1040-ES Payment Voucher quarterly to avoid
paying a penalty.
The next quarterly payment of estimated income tax for
the self-employed is not far off.
How to Reduce the Estate Tax Using the A-B Revocable Living Trust
In a past article I relayed the plight of the widow who stated, "I didn't realize what an A-B Revocable Living Trust meant and that it had to be divided between the survivor and the deceased spouse and that I am limited as to what I can use from his share." She told me that she only learned of this after her husband passed away.
Keep Your Own Money - Don't Hand It Over To The Taxman
Most people trying to make money online (or offline for that matter) are so focused on doing just that, they ignore taking simple steps to ensure that they hang on to just as much of it as they can. Instead, they hand over large lumps of their hard-earned money in taxes, usually in one of two mistaken beliefs.
Tax Reform, My Way
We need real tax reform and we need it now. Previous attempts have been made at tax reform, but they have only provided band-aid solutions that have still left us with too many quirks, complication, and red tape.
Surprising Truths About Tax Preparers
Choosing the right tax preparer for your business is a decision best not left until April. A former tax preparer and small business mastermind offers insights into the secret world of tax preparers.
Navigating The Internet Sales Tax Laws
Are you running an internet business but dont' know the answer to this question?
"I have been contacted by my local city government to say that my business is scheduled to be audited to determine if I owe any sales tax from items purchased on the Internet. Can they really make me pay this tax? I thought you could buy things online tax free?"
About Home Based Business Tax Deductions
Running a home based business reaps many wonderful tax deductions that other businesses sometimes may not claim. Many small business owners end up paying the government taxes every year because they are unaware or several small business deductions that are available.
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