It is the obligation of the government to collect taxes while it is the duty of the good citizens of the land to pay up. The International Revenue service is the United States government agency that is tasked to go about the collection.
In the United Kingdom, where tax has a rich history dating back […]
'Taxation' Category
The INTERNAL REVENUE SERVICE has come out with a especial(a) program known as STEP, or Belittled Stage business Taxation Education that you tin read to understand the overall taxation structure. At that place are a few things that tin can be done to make sure that the process of filing your taxes is smooth […]
Ever wondered why so many small businesses—more than 3,000,000 at last count—operate as an S corporation? Simple. An S corporation saves business owners big taxes in three separate ways:
First, as compared to regular corporations (sometimes called C corporations), S corporation owners can use the business’s losses incurred during the early lean years on the […]
Overview of the Subchapter S Corporation Designation
Although the term Subchapter S Corporation sounds as if it applies to a certain type of company, in actuality, it is merely a term used by the IRS (Internal Revenue Service) to designate a particular tax status. Almost any company that is comprised of 75 or less shareholders […]
Have you been thinking about incorporating your small business or self-employment activity? The advantages are many!
For starters, you’ll be protecting yourself and your family from the possibility of a business ending lawsuit. Forming a corporation is Step One on the path known as “Asset Protection” — you are moving from the world of unlimited […]
Unfortunately to many of us the Internal Revenue Service (IRS) is one branch of government that can never be our friend and is often feared by some less reputable business owners. When the IRS is owed money, they will get it whether you like it or not. For those individuals who owe back taxes, […]
On of the largest burden on very small employers is dealing with taxes. Fortunately, the IRS has taken a major step to reduce this burden.
Quarterly Federal Tax Returns – Not!
There are millions of small businesses that labor under the burden of filing federal tax returns each quarter of the calendar year. These quarterly returns […]
When my column on paying income tax on eBay profits ran it brought a wave of emails on whether you were required to report income earned from eBay sales to the IRS sparked a number of additional questions and comments from eBay sellers who were hoping that I could somehow validate that their eBay […]
Q: I was contacted by the city tax collector to say that my business is scheduled to be audited to see if I owe sales tax on items purchased on the Internet. Can they really make me pay sales tax on internet purchase? I thought you could buy things online tax free? — Charlie […]
Whether you are looking to start a new home business or currently operate one, knowing about the tax deductions available to you can reap huge benefits for your business around tax time. There are many deductions that you may be eligible for including…
1. Start-Up Expenses- If you are not yet in business you are […]