If you’ve ever filled out a W-9 form, one of the things you had to certify was that you were not “subject to backup withholding.” Or, if you’ve received tax form 1099 from someone who didn’t have your Social Security number, you might have received less money than you […]
The IRS today announced that the per mile deductible rate for operating an automobile for business purposes is going up to 55.5 cents from 51 cents a mile. Moreover, the rate for calculating deductible medical and moving expenses also increased by 5.5 cents […]
As a reminder, today, Q2 estimated federal tax payments are due. To avoid tax penalties (discussed below), you will need to have your payment postmarked by today.
Remember that estimated tax payments are for taxes owed on income that is not subject to withholding. It includes income from dividends, […]
For those of us who work from home – either for someone else or in our own small business – the home office deduction is a valuable tax break that can save you hundreds of dollars and help defray the upkeep costs of your […]
As small business owners continue to struggle alongside consumers through this economic recovery, many are concerned about proposed tax changes.
President Obama has proposed several changes which impact high-income families. The theory is that those who earn more money should carry a higher tax burden […]