While being a business owner has its rewards, it also spawns a laundry list of strenuous duties and responsibilities. It’s no wonder entrepreneurs shove some crucial matters, such as disaster preparat…

The key advantage for forming an S corporation is the considerable savings from self-employment taxes. S corporations have many more rules and regulations than other entities. If you are an S corporat…

Schedule C determines whether your business income is a profit or a loss. Completing a Schedule C will require a lot of documentation, and it comprises several parts. You may learn that if you complet…

First enacted in 1939 in the aftermath of the Great Depression, the Federal Unemployment Tax Act (FUTA) was established to support involuntarily unemployed individuals. Imposing an unemployment tax on…

Here are a few tax tips you might consider before the end of the year, which could potentially reduce your taxes when Uncle Sam comes knocking in April. Generally, you want to lower income and acceler…

If you’re a small business owner, you may want to review your business tax situation well before December 31 to determine what strategies you can implement to minimize your tax liability this year. Th…

While it can be quite rewarding to prepare delectable edibles for hungry consumers looking for a quick bite to grab, there are several IRS tax rules you must understand to successfully run a food truc…

We are surrounded by technology that makes our lives so convenient. But can you write off these tech items when filing your return with the IRS? The answer is “yes” in some cases. Here’s why

Every tax-filing season, most Americans go on a quest to find as many tax deductions as possible. At the same time, many small business owners and independent contractors leave money on the table beca…