Looking to reduce your business costs? In the U.S., you can get business tax deductions for gifts up to a limit of $25 per gift per taxpayer subject to certain conditions.
Partnerships provide the ability to pass through income to owners, without the organization paying taxes on company income. However, understanding partnership tax laws requires more than just knowing about pass through entities. Not paying taxes does not mean you don’t file taxes.
According to the IRS, expenses are required to be “ordinary and necessary” to qualify for small business tax deductions. That begs the question, what is considered an ordinary or necessary expense? Are deductions the same for a retail store as they are for a home-based professional?
Business tax software can help eliminate some of the anxiety many business owners have when preparing their own taxes. Before purchasing a tax software application, an entrepreneur needs to know which program fits their business and their level of comfort with tax preparation.
You get income from the Internet, but do you have to pay taxes on an online business? Are you even classified as an online business? There are three types of tax you must know about if you work online. The checklist at the end of the article will help you determine if you have to pay.
The right S Corporation tax strategies can help you save money and avoid an audit. Learn about methods to avoid red flags with the IRS, and how to maximize your tax deductions. You’ll also want to know about negotiating tax settlements with the government.
Put your money in your pocket, not Uncle Sam’s, as you learn to claim all the tax advantages to owning a business. Invest in yourself first and buy the business items required to become profitable–and write them off.
Check out these top 4 self employment tax tips to pay your taxes efficiently and maintain very clean records. Learn how to make optimal use of the tax benefits and deductions available to self-employed individuals from the IRS to help save on your tax costs.
Understanding how to save money on eBay fees is very important if you are running an eBay business. Here are some quick tips that can be implemented to save you a few bucks and increase your profitability.
Almost every business, is eligible to utilize sales tax exempt forms for purchases from vendors or suppliers. If you don’t understand how the sales and use tax in your state works, Jean Scheid will tell you how to find out as well as how to utilize these forms so you don’t have to pay sales tax.