Taxes

Top 10 Small Business Tax Trends for 2012

By Barbara Weltman - Dec 5, 2011 - 10 Comments

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 … Read More

Will an LLC Help Lower Your Business Taxes?

By Nellie Akalp - Nov 29, 2011 - 5 Comments

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 … Read More

Count Them: 5 Tax Benefits of The American Jobs Act

By Nellie Akalp - Sep 26, 2011 - 8 Comments

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 … Read More

IRS Increases Business Mileage Rate to 55.5 Cents

By Anita Campbell - Jun 26, 2011 - 8 Comments

The Internal Revenue Service announced a midyear increase in the business mileage rate you can claim as a business tax deduction. Effective July 1, 2011, the rate increases to 55.5 cents per mile. This is a 4.5 cent increase. For the first half of 2011, the rate still remains at 51 cents per … Read More

After Tax Time: What’s Next for Your Business?

By Nellie Akalp - Apr 19, 2011 - 2 Comments

Another April 15 (or April 18 this year) has come and gone, and you’ve dutifully sent in your tax forms for one more year. If you’re self-employed operating as a sole proprietor, tax time can be yet another reminder that you haven’t addressed your business structure yet. Maybe you started … Read More

CHART OF THE WEEK: The Cost of Small Business Tax Compliance

By Scott Shane - Apr 18, 2011 - 5 Comments

Today is tax day in the United States. And in honor of that auspicious event, this week’s chart looks at the cost of small business tax compliance. Although it probably won’t surprise most of you to learn, it costs much more on a per employee basis for smaller businesses to adhere to federal … Read More

Ensuring America’s Small Businesses Get a Fair Deal on Tax Day

By Kristie Arslan - Apr 11, 2011 - 3 Comments

Business owners often have to make tough decisions when it comes to their bottom lines. Unfortunately, for many self-employed and micro-businesses, health insurance has become a luxury item – purchased when times are good and given up during times of belt-tightening. A contributing factor to this … Read More

Is the S Corp Right for Your Small Business?

By Nellie Akalp - Feb 17, 2011 - 20 Comments

Whether you’re an SEO consultant or event planner, you’ve probably considered incorporating your business at one time or another. The decision to incorporate brings several businesses, from asset protection and lower liability to easier access to business credit and capital. However, if … Read More

Top 10 Tax Trends for 2011

By Barbara Weltman - Jan 4, 2011 - 7 Comments

Taxes, and taxes for small business in particular, were headline news for a good part of 2010. This is because of the pending expiration of the Bush-era tax cuts, the extension of those cuts, and legislation creating incentives for hiring and improving the economy. In 2011, taxes will continue to … Read More

5 Ways the Government Is Using Dynamic Web Services to Better Serve Small Business

By Business.gov - Dec 22, 2010 - 6 Comments

In the past, dealing with the U.S. government often meant dealing with paperwork, paper trails and a system of constituent outreach that might not have been the most customer-centric in its approach. That was then; this is now. From the campaign trail to Capitol Hill, the government has upped … Read More

Facts About Small Business Taxpayers

By Scott Shane - Dec 20, 2010 - 5 Comments

To comprehend U.S. tax policy, you need to understand how taxes impact small business owners. That's because when politicians discuss taxes, they almost always pay attention to their effect on those who own companies. So what does IRS data show about small business owners and taxes? Business … Read More

Entrepreneurship and Taxes

By Scott Shane - Dec 6, 2010 - 16 Comments

Would allowing the Bush tax cuts to expire discourage entrepreneurial activity and, by extension, lower economic growth? Of all the policy questions being considered in Washington these days, this one may be the most important. High taxes disproportionately affect small business owners. The … Read More