Several states, including Illinois, California, Massachusetts and New York, are getting tough on employers that violate sales-tax laws, according to an Associated Press report. Researchers at the Tax Foundation say smaller businesses tend to be the biggest tax evaders.
Small Business Tax Deduction Strategies
Section 179 vehicles should be a key part of your small business tax deduction strategies. Can Section 179 property fit in with your business tax strategies?
Let Business Management Daily help you get each and every rental property depreciation credit and business tax deduction you’re entitled to.
Sometimes, it makes sense to intentionally do things “the wrong way” in the tax world. This could be one of those times. Strategy: Set up an intentionally defective trust (IDT). As the name implies, the arrangement is designed to fail the tax rules for “nongrantor trusts.” In the end, however, the IDT is a triple tax winner.
Q. How often do I have to pay my employees? Are there any rules that require payment upon termination within a specific time period?
Tired of working, but still need a paycheck? Keith Smith apparently found a solution to that age-old problem, if only temporarily.
Gov. Jon Corzine joined the governors of Connecticut and New York to request a $48 million grant for displaced financial workers from U.S. Secretary of Labor Elaine Chao.
The politics of the economic recovery and stimulus bill President Obama signed on Feb. 17 have been the talk of Washington for weeks. Now get ready to figure out what it really means for business. Tip for HR pros: Plan on spending lots of time in the accounting department.
In these uncertain economic times, small business owners may think about outsourcing certain payroll duties to third-party service providers. Alert: The IRS is cautioning taxpayers about tax traps in this area. Outsourcing payroll duties doesn’t relieve your company of its obligations to make timely employment tax deposits.
Once resistant to the money-saving practice of getting paid through direct deposit, employees now say they favor electronic payments over traditional paychecks.
Watch out for deductions that fall through the cracks. Here’s a list of out-of-the-ordinary deductible business expenses you might overlook.
Nobody’s perfect, but any mistakes you make on your tax return can come back to haunt you in penalties, interest and missed opportunities. What are the 10 most common errors? Here’s what the tax pros say.