Archive for Business
Rental Owners Need to Prepare for the New 2011 Reporting Requirement
If you are a rental owner and during 2011 make payments of $600 or more to a service provider (such as a plumber, painter, or accountant) in the course of earning rental income, the 2010 Small Business Jobs Act says that you are required to provide an information return (typically Form 1099-MISC) to IRS and […]
Beware of a New Fraud Risk!
There is a fraud risk related to the Electronic Federal Tax Payment System (EFTPS) that you need to be aware of. Always remember that the IRS does not initiate taxpayer contact by e-mail. Therefore, if you receive an e-mail that appears to be from a tax agency telling you that your federal electronic funds transfer (EFT) […]
The 9 Benefits of Tax Planning
Planning Strategy – A Matter of Timing Planning strategy is often built on two basic timing precepts: Rule 1 – Generally, payment of tax owed on income transactions should be postponed as long as possible provided no penalty is incurred or there is not a pending law change that would adversely affect you.When you postpone […]
Tax Credits for Small Employers Offering Health Coverage
The Patient Protection and Affordable Care Act provides a tax credit for an eligible small employer (ESE) for nonelective contributions to purchase health insurance for its employees. The term “nonelective contribution” means an employer contribution other than an employer contribution pursuant to a salary reduction arrangement. o 2010 through 2013 – For tax years 2010 […]
Business Changes for 2009
Over the past several months, Congress has been enacting legislation to stabilize the economy. At the urging of the incoming administration, Congress is working on yet another stimulus plan. As they make temporary changes to the tax code and extend expiring provisions, and with the phase-in phase-out provisions of earlier legislation, it becomes more difficult […]
Is Now the Time to Consider Rental Property?
Does the decline in real estate values present a business opportunity? Real estate rentals historically have been a popular long-term investment, and if you believe that this market eventually will rebound from its current slump, this may be the time to consider such an investment. This material will explain some of the tax ramifications of […]
How to Avoid Common Business Mistakes
It is not uncommon for business owners to become so involved with their day-to-day operations that they overlook some important issues associated with being in business. Here are some tips to help you avoid making costly mistakes and to ensure that your business runs smoothly. • Minimize personal liability. Individuals should try to avoid putting […]
Business Document Templates
As a business owner, I’m sure there are many instances where you find yourself typing up a wide array of letters and miscellaneous documents. While it takes longer the first time around, you can make it much faster the next time by using a template from the document you just created, rather than reinventing the […]
10 Questions To Ask About Your Business?
Were my total sales up or down last month? And were they designated by sales category? You need to know: If your sales are up, you’ll need extra cash to buy replacement inventory. If your sales are down. you’ll want to pull back on inventory purchases. Sales increases in a category can mean a new […]
