One key to success in starting a new business is to know about your federal tax obligations such as income taxes and payroll taxes. Below are five basic tax tips that can help get your business off to a good
Tag: expenses
2013 Year End Tax Planning
Year-end tax planning could be especially productive this year because timely action could nail down a host of tax breaks won’t be around next year unless Congress acts to extend them. Businesses and individuals can potentially achieve significant tax savings
Tax Tips – Gambling Income and Losses
Six Tips on Gambling Income and Losses Whether you roll the dice, play cards or bet on the ponies, all your winnings are taxable. The IRS offers these six tax tips for the casual gambler. Gambling income includes winnings from
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
Maximize Medical Deductions
Medical costs seem to increase every year. There is a way to get Uncle Sam to foot some of the doctor bills, but you need to make sure you know and follow the rules. The Internal Revenue Service lets you
Employee Business Expenses
Employees often give a little extra in their jobs. If that giving is literal, you paid some work-related costs and weren’t reimbursed, so you may be able to turn your professional dedication into a tax break. Itemization required Many unreimbursed employee