Taxes

 

Small Business Owners And The Estimated Tax Payment

For new small business owners, meeting your tax obligations is a big adjustment – particularly when you’ve been used to having an employer take out income tax withholdings with each paycheck. When you have your own business though, tax time isn’t just once a year; rather you have to make…

 

 

Haven’t We Seen This Tax Cut Before?

Whenever politicians start throwing “small business” around, it’s best to sit up and pay attention. It’s also best to take what they say with a grain of salt. Long time readers know that I’ve been saying since forever that small business policy that misses most of the…

South Dakota, Texas Top List of Best State Tax Systems

The Small Business and Entrepreneurship Council (SBE Council) just published its Business Tax Index 2012.  The list covers what the SBE Council’s formula determines is the ” Best to Worst Tax Systems for Entrepreneurship and Small Business.”  Topping the list of the most…

Small Business Taxes: How Business Structure Impacts Allowable Deductions

Whether they’re looking to avoid that ‘double taxation’ conundrum or reduce self-employment and payroll taxes, business owners wonder which legal structure is right for their business, financial situation, and taxes. The issue of double taxation and the S Corporation and LLC’s pass-through…

The S Corp Deadline Approaches: Is It Right For You?

If your business is a corporation, you’re already aware that March 15th is the most critical tax deadline of the year. But March 15th is an important deadline for another reason…it’s the deadline for electing S Corporation status. Choosing the right business structure is a significant issue,…

Less than a Tenth or More than Four Fifths?

Should we worry about the number of businesses that would affected by a tax increase or the amount of small business income that would be subject to the tax? It’s an important question. The share of small businesses and the fraction of small business income hit by tax increases are usually very…

Just What We Need: More Tax Forms

If it’s not already enough of a headache keeping up with business expenses come tax time, small businesses that accept credit cards (both online and in brick-and-mortar locations) now have another element to add to the tax equation. It’s called the 1099K form. Aimed at addressing the…

Top 10 Small Business Tax Trends for 2012

Can a discussion of the federal deficit, now in excess of $15 trillion, be separated from a discussion on taxes? Of course not! Therefore, taxes will continue to be an important topic on the federal level because of the dichotomy between raising taxes to address deficit concerns vs. keeping taxes…

Will an LLC Help Lower Your Business Taxes?

The key reason to form an LLC (limited liability company) is to shield the personal assets of the owners from that of the business. This means that if your company has bad debts or is sued, banks and other lenders cannot seize your personal property. But let’s face it. For many small business…

Count Them: 5 Tax Benefits of The American Jobs Act

In a speech to the joint session of Congress on September 8, President Obama laid out his plan to spark the economy and put Americans to work with the American Jobs Act. This jobs bill contains several tax initiatives and incentives to promote investment, and hiring in particular. The President…

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