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Tax Credit vs Deduction
Use Tax Breaks to Lower Your IRS Bill As you probably know, tax credits and tax deductions can help reduce your overall income tax liability.…
Most common tax mistakes made by small business owners
Do not let these tax requirements surprise you! You may look at your small business as a temporary substitute for full-time employment. A lot…
Temporary employee and independent contractor tax issues
How do temp employees file their taxes, and how do you know when you are an independent contractor? The economy might be improving, but…
How to know if your small business qualifies for the “small seller exception” in Marketplace Fairness
Here's what to do if it passes. If passed, as is, the Marketplace Fairness Act will exempt small sellers from state sales tax. I take…
Types Of Tax Deductions
An Overview of Tax Deductions & How to Claim Them on Your Return With the ever-changing tax laws and the temporary nature of most tax…
IRS record-keeping rule: What receipts to save in substantiating charitable donations
A fairly recent record-keeping rule has been a surprise for many audited taxpayers. The IRS has tightened up a number of taxpayer loopholes in the…
Small business owners favor tax reform to reduce complexity
Complexity and inconsistency within the tax code continue to be major issues for small business owners. According to a survey conducted by the National Small…
IRS Forms
IRS tax forms are used by individuals and organizations to report income and pay taxes to the federal government. The IRS (Internal Revenue Service) is…
