Tax Tips and News for Your Small Business

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What You Need to Know About Hiring Short-Term Employees

The hiring of short-term, seasonal, contract, or otherwise temporary employees is on the rise among U.S. businesses. In fact, the nation’s labor force currently includes more temp workers than ever …

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Should You Finance a Business With Your 401(k)?

Launching a business takes money, and many entrepreneurs have turned to their 401(k)s to provide startup capital in recent years, The New York Times and Reuters report. Bypassing the banks …

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Restaurant Owners: New IRS Policy on Tips Coming Soon

It’s common for U.S. restaurants to automatically add a gratuity to the bill for large parties. But a new IRS rule, scheduled to take effect in January 2014, may make …

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Accept Credit Cards? You May Be an Audit Target

If you accept credit cards at your place of business, the Internal Revenue Service may have its eye on you. According to CNNMoney, the IRS has sent letters to 20,000 …

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Is It Time to Incorporate Your Business?

If you’re like most small-business owners, you probably started your operation as either a sole proprietorship or, if you had co-owners, a partnership. This company structure is the simplest and …

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A Financial To-Do List for New Entrepreneurs

Entrepreneurs: Prior to embarking on any new business venture, you need to make sure that your financial house is in order. Here’s a to-do list to help you do just …

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5 Ways Retailers Can Prepare for Sales-Tax Holidays

Unless your store caters to warm-weather activities, you may notice a drop-off in business in the summertime when people go away for vacation, spending less time shopping and more time …

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Salary or Draw? How to Pay Yourself as Business Owner

Congratulations! Your small business has moved beyond the initial startup phase and is now a profitable venture. Although you may have worked for free in the early days, it’s time …

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Businesses React to Threat of Internet Sales Taxes

The Marketplace Fairness Act, which could force many more business owners to collect sales tax on online purchases, recently passed the U.S. Senate. However, the legislation faces an uncertain future …

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Get Ready for Next Year’s Tax Return Now

Small-business owners are probably thinking about paying their second quarter estimated taxes right about now, because they’re due on June 17. While you’re at it, why not start getting ready …

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What Is an EIN and Does Your Business Need One?

Much like a Social Security number for individual taxpayers, an Employer Identification Number — also called a Federal Tax Identification Number — is how the IRS identifies your company. Business …

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Should You Adopt a Fiscal or Calendar Year for Your Small Business?

As an individual taxpayer, you’re required to complete and submit an annual federal income-tax return by April 15 for the prior calendar year. (The IRS sometimes moves the date to …

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In Business With Your Spouse? Here’s How Your Taxes Work

If you started a small business with your spouse, the federal tax implications of your decision aren’t as simple as you may think. Here’s what you need to know to …


6 Ways to Get Audited by the IRS

Who knew that having a vindictive ex or rounding-off figures on a tax return could get you audited by the Internal Revenue Service? As you recover from tax time, be aware that there …

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The Top 5 Documents Your Accountant Needs to Do Your Small-Business Taxes

As a small-business owner, tax time can be stressful, as you scurry to pull together all of your receipts and try to remember everything you did last year. Although accountants …

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