The IRS has issued the optional standard mileage rates for 2014, which are down one-half cent from the 2013 rates. The optional standard mileage rates are used to calculate the deductible costs of operating an automobile for business, charitable, medical,
Category: Business
Health Insurance
Affordable Care Act Information On March 23, 2010, President Obama signed the Affordable Care Act (ACA) into law, putting in place comprehensive reforms that improve access to affordable health coverage for everyone and protect consumers from abusive insurance company practices. The open enrollment period to purchase health insurance
Business or Hobby?
Nine Factors to tell if you have a Business or Hobby The IRS may question taxpayers regarding whether an activity is a business or a hobby. If the activity is not engaged in for profit, it is subject to the
IRS Provides Tax Relief to Victims of Colorado Storms
The Internal Revenue Service is providing tax relief to individual and business taxpayers impacted by severe storms, flooding, landslides and mudslides in Colorado. The IRS announced today that certain taxpayers in the counties of Adams, Boulder, Larimer and Weld will
Tax Tips if You’re Starting a Business
If you plan to start a new business, or you’ve just opened your doors, it is important for you to know your federal tax responsibilities. Here are five basic tips from the IRS that can help you get started. Type
Paying Business Expenses from Personal Accounts
It happens to the best of us. If you have more than one credit card, you may use the wrong one. You’re at a business meeting at a restaurant and you pay with your personal credit card, or you pay
Health Insurance Deduction for Self-Employed
Don’t Miss the Health Insurance Deduction if You’re Self-Employed If you are self-employed, the IRS wants you to know about a tax deduction generally available to people who are self-employed. The deduction is for medical, dental or long-term care insurance
Six Tax Tips for Self-Employed
When you are self-employed, it typically means you work for yourself, as an independent contractor, or own your own business. Here are six key points the IRS would like you to know about self-employment and self-employment taxes: Self-employment income can
Business e-File Starts February 4
Many businesses will be able to file their 2012 federal income tax returns starting Monday, February 4. The Monday opening covers non-1040 series business returns for calendar year 2012, including Form 1120 filed by corporations, Form 1120S filed by S