can cost you big
Schedule 30-Minutes
No one wants to pay more taxes than they legally have to. After all, income tax is typically the largest expense for most people. With this in mind, the government offers tax deductions and credits to ease this financial burden. But the system seems to favor those who fall in a certain income range. Why?… Read more »
You have finished preparing the tax return and notice that you have to pay someone a huge sum, but can’t afford to pay it. Will you go to jail? Probably not. The realization that you can’t afford to pay your taxes can make you feel uneasy, but don’t worry. There are things you can do… Read more »
For many new small business entrepreneurs, the first year is actually the hardest. First, you need to decide what form of business you actually want, then there’s extensive business record keeping. Bad record-keeping can be a big pitfall if you are a small business owner. You can avoid headaches when you are filing your tax… Read more »
Do you know your business’s cash flow takes a hit when you owe IRS money? In such a case, avoiding a tax debt can be really simple like knowing when and how to file the small business tax return. Also, by knowing what business tax mistakes to avoid, you can prevent having to pay the… Read more »
Owing money to the IRS is common for every working individual across the US. However, several affected individuals aren’t aware of the IRS installment agreement plan & payment options available to them. The IRS has set up payment options that can be applied to people in various financial situations. This is established through a proper… Read more »
Owing money to the IRS is common for every working individual across the US. However, several affected individuals aren’t aware of the IRS payment options available to them. The IRS has set up payment options that can be applied to people in various financial situations. This is established through a proper payment plan, which is… Read more »
Taxes for small businesses can be confusing. Several questions are there roams around the mind. Confusion is not an unnatural thing. Few Questions comes to the mind such as: How much do I pay? Why do I have to pay this amount? How can I reduce taxable income? However, it is better to do year-end tax planning… Read more »
Million things one needs to keep in mind while starting a business. The owner needs to handle things like, raising funds, hiring staffs, fabricating marketing strategies, paying salaries, etc. However, before all these, you need to know the type of business entity structures and what is entity formation. Your sole decision can influence your legal… Read more »
With the 2019 tax season coming to closure, you might be happy to forget about taxes again for another year. But if you do it, you would be making next year’s tax season quite difficult for yourself. You might file a tax return just once a year, but taxes affect you all through the year…. Read more »
Not quite sure how much you need to save for small business tax? There are many ways to go ahead calculating what you actually owe and saving the right amount. The right method to use would depend on how long you have been in the business, how stable the income, how willing you are to… Read more »
