August 7, 2013
A fairly recent record-keeping rule has been a surprise for many audited taxpayers.
The IRS has tightened up a number of taxpayer loopholes in the last decade,...
July 29, 2013
When entertaining clients or traveling on business, you may be eligible for Federal income tax deductions on a portion of your expenses that are not reimbursed by an...
July 26, 2013
Nonprofits are organizations designed to forward ideas, beliefs, and initiatives as opposed to one individual, or a group of individuals. This is in stark contrast to corporations or many business entities, which transfer a percentage of profits...
July 25, 2013
You do not want to use the IRS like a bank account. Believe me, the money withheld from your paycheck would be better spent elsewhere – loans, payments, or a pair of shoes – than it would sitting in the digital catacombs of the Internal Revenue...
July 23, 2013
If your organization meets certain requirements, you can avoid taxes without applying for tax-exemption.
The paperwork required for tax-exempt organizations is cost-prohibitive to many small, grassroots organizations, which is why the IRS...
July 19, 2013
You may have noticed the remarkably high self-employment tax on Form 1040 (15.3%) and wondered how Americans – who have such a rich history of entrepreneurship –...
July 16, 2013
Occasionally an article will pop up about the hard-edged stance the IRS takes with small businesses, and particularly sole proprietorships.
Always, the implicit...
July 8, 2013
Financial pressure in Congress has caused substantial changes in Federal taxation. Here is a list of those changes, sectioned off by who the changes will most likely affect.Everyone
Medical and dental expenses: You can...
July 1, 2013
Estimated taxes are simple … in theory.
For salaried employees, estimated tax payments would be fairly simple to calculate, but many small businesses and self-employed persons in the United States can have irregular income,...