Blog
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Basic Tax Strategies Small Businesses Can Implement Today
- January 17, 2020
- Posted by: BenG-Admin
- Category: Blog, Business, IRS, Taxes
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The highest expense for a small business over the year is not raw material, health insurance, or even payroll – but taxes. In this age of lower and friendlier tax rates, small businesses often have to grapple federal and local tax regulations. And before you know it, the amount accumulates to the point that it
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Pros of Refundable Tax Credits for Your Business
- January 13, 2020
- Posted by: BenG-Admin
- Category: Blog, Bookkeeping, Business, IRS, Taxes
Whether you are an individual or a business owner, refundable tax credits are definitely a crucial consideration for taxpayers to be fully aware of when filing their tax returns. As a business owner or entrepreneur, you can claim tax credits that lower the amount of tax that you pay to the IRS. Businesses, regardless of
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What You Need To Know About Your Car Depreciation
- January 2, 2020
- Posted by: BenG-Admin
- Category: Blog, IRS
Time is nobody’s friend, especially if you are a car owner. Unlike other of your assets, a vehicle’s value significantly decreases over time. This phenomenon is depreciation. Car owners do not feel the effect of depreciation until they decide to trade or sell their cars. In simple words, depreciation is the value that represents the
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A Complete Guide on How to Calculate Tax Withholding
- December 17, 2019
- Posted by: BenG-Admin
- Category: Blog, Business, IRS, Taxes, Wage
If you thought that beefy tax refund you got last year was a bonus, you may be in for a surprise. A hefty refund can mean that you have been handing over a significant amount of your hard-earned money to the government, with each paycheck. The government is only returning the money that was once
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12 Questions You Should Ask Before Filing Taxes
- December 3, 2019
- Posted by: BenG-Admin
- Category: Blog, IRS, Taxes
Today, most of the small business owners leave legal write-offs during filing taxes. Sometimes keeping track of your receipts and expenses does all the wonders. That said, thorough preparation of business taxes requires finding the underlying cause of all the answers. Once you figure out the fundamental questions, the journey to file taxes becomes much
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Payroll Taxes: A Complete Guide
- November 24, 2019
- Posted by: BenG-Admin
- Category: Blog, Business, Taxes, Wage
Every business in existence has to pay payroll taxes after hiring employees. Payroll taxes include your federal income, Social Security, and Medicare. Though it depends on the geographical location of your business, state and city taxes are often different when it comes to payroll taxes. Typically, the business owner should get a federal Employer Identification Number (EIN) to file and pay payroll
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A Comprehensive Look at How to Collect, Report, and File Sales Taxes
- November 17, 2019
- Posted by: BenG-Admin
- Category: Blog, Business, IRS, Taxes
Whether you run a small or large company, the payment of sales tax is of utmost importance. So long as you offer a taxable product or a service, your business will have to pay sales taxes in your state. It is true – small businesses are often negligent about the confirmation of sales tax permits.
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Everything Small Businesses Need to Know About Crypto Taxes
- November 14, 2019
- Posted by: BenG-Admin
- Category: Blog, Business, IRS, Taxes
Taxpayers are aware of the fact that the calculation of stocks, real estate, and capital assets is never easy. With the rise of numerous cryptocurrencies in the financial market, the IRS wants to make sure that taxpayers pay their fair share of crypto taxes. The IRS is swifter than ever when it comes to cracking
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What Small Business Owners Should Know about Tax Abatements
- October 20, 2019
- Posted by: BenG-Admin
- Category: Blog, Business, IRS, Taxes, Wage
Tax abatement refers to a tax reduction granted by government authorities. The underlying purpose of tax abatements is to encourage economic development. Largely, Tax abatements take precedence when it comes to small businesses. Moreover, tax abatements practically facilitate small businesses that intend to launch a new office in another city or expand operational activities in -
What To Do About Your October 15th Tax Deadline
- October 1, 2019
- Posted by: BenG-Admin
- Category: Blog, IRS, Taxes
There are many situations where you might require a 2019 tax extension. Luckily, the United States Government and the Internal Revenue Service (IRS) seem to understand that it isn’t always possible to file taxes accurately and completely by April. That’s why an extension often allows businesses to file taxes by September 15th and individuals
