Articles related to taxes, the tax code, and filing taxes.
Five Ways to Avoid an IRS Audit as a Small Business
Practices and habits that may trigger an IRS audit and how your small business can avoid those triggers.
S. S. Payroll Tax Deferral Program – Help or Headache?
The latest payroll tax deferral program was recently rushed into existence as part of the U.S. government’s response to the Coronavirus and continues to evolve – and much remains unclear. Major questions remain which most employers must unfortunately deal with as they remain in the middle, between both the IRS and employees. For example, it [...]
Payroll Tax Problems and the IRS
Small business owners have so many business tax responsibilities – income taxes (federal and state of course) sales taxes (now hugely more complicated than even a year ago), excise taxes, city and county taxes, franchise taxes, many special taxes, and of course payroll taxes. This is where part of employee pay is withheld and reported [...]
Online Marketplace Facilitators and Sales Taxes
The sales tax environment continues to evolve, mostly to the detriment on small business online sellers. Sales taxes are growing increasingly complex and impose great burdens on just about any business that must comply. The situation is indeed untenable, and a simpler solution is needed. But in the meantime, here is a discussion on the [...]
Trump Effect on Tax Surveys?
Honest Taxpayers? A recently completed survey on taxes, honesty and cheating directed at individuals and small businesses finds that despite the complexities and ever-increasing types of taxes and rates, Americans are surprisingly honest and well-intentioned on their taxes, and typically step into only a few gray areas. Taxpayers more often cheat on boy-friends and [...]
Slightly Reducing the Pain of Sales Taxes in QuickBooks
Sales taxes are a pain for most businesses. Business owners must act as the unpaid agents of the government in deciding what and who gets taxed, collecting the tolls, and remitting to one of many state governments, while hoping that all is correct to avoid penalties and intrusive audits. I won’t tell you that [...]
When are meals and entertainment expenses tax deductible?
There is lots of confusion among small businesses about how to handle accounting for entertainment, meals at the office, business promotions and expenses for meals while traveling. And there should be given that all of this is explained by the IRS in no less than 50 pages of instruction covering multitudes of possibilities in IRS [...]
Don’t be Scammed by IRS Tax Impersonators!
The April tax-filing deadlines are well behind us now, but the IRS is warning that tax scammers are not on summer vacation.
Time to Move Fast on 2016 1099’s
It's still only January but time to get going on 1099's! There are some important changes for QB users in filing 2016 IRS Form 1099's including due dates and QB options. Intuit 1099 e-file service The Intuit 1099 e-file service may be the best choice to get it done fast and effectively - except for [...]
7 Ways to Attract an IRS Audit
There are all kinds or rumors out there about IRS and state income tax audits – who gets audited, and why? No one wants this kind of attention: there may be much additional taxes to pay, and lots of intrusive, time-consuming questions. And according to the IRS, an audit may involve “the questioning of witnesses [...]