Small Business Tax Strategies

Q: I am single and earned $79,040 from my regular job in 2003. But I also had $15,233 in self-employment (SE) income. The IRS says I have to pay the full self-employment tax on the additional earnings. Is this true? D.A., Needham, Mass.

{ 0 comments }

If you’re an owner/executive of a C corporation, it’s time to sit down with your tax adviser to see if your compensation passes IRS muster.

{ 0 comments }

One of the good things about owning a business is that you can give yourself some nice perks, like a company car. This Special Report explains strategies to: (1) minimize the tax hit on corporate-owned cars provided to you and other key employees and (2) maximize the tax savings for your corporation.

{ 0 comments }

Uncle Sam often examines deductible travel expenses through a magnifying glass. So both employers and employees must meet strict recordkeeping rules—or face the consequences.

{ 0 comments }

Q: I thought I read in your publication recently that I would be entitled to certain tax deductions not normally allowed if I was a corporate officer living next door to my business. Is this correct? P.B.W., Grantville, Pa.

{ 0 comments }

Q: Our small company does not have a retirement plan. Can the company contribute to a Roth IRA on my behalf if I’m one of the company principals? P.H., Columbia, Md.

{ 0 comments }

Q: As always, I mailed my 2003 tax return as soon as possible. But soon after I mailed it, my broker sent me a corrected Form 1099 that restated dividend income. Do I have to file an amended return, even though it was the brokerage firm’s error? K.R., Crawfordsville, Ind.

{ 0 comments }

The IRS is holding more than $2.5 billion in unclaimed refunds for 2 million people who failed to file tax returns for the 2000 tax year.

{ 0 comments }

Looks like you’ll pay for the financial sins of Martha Stewart and the rest of her corporate-scandal cohorts.

{ 0 comments }

Relax; take an automatic extension.

 

Buy extra time for hardship situations.

 

Postpone payments when living abroad.

 

Military taxpayers earn extra time to file.

{ 0 comments }

Page 238 of 251« First...102030237238239240250...Last »