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Everyone needs a bit of planning to help with taxes. However tax planning strategies for small business owners can put you ahead of the game in a multitude of ways. If you are a small business owner, every penny of income counts. This means that you not only want to optimize your revenue, but also …
February 10 – Non-Payroll Taxes File Form 945 to report income tax withheld for 2019 on all non-payroll items. This due date applies only if you deposited the tax for the year in full and on time. February 10 – Social Security, Medicare and Withheld Income Tax File Form 941 for the fourth quarter of …
If you’re working with a partner or cofounded, be aware. The number-one threat to your business isn’t an external factor at all. It’s the people you started that business with – specifically partners, or cofounders.` Watch the video to learn more.
On December 20, 2019, President Trump signed into law the Appropriations Act of 2020, which included a number of tax law changes, including retroactively extending certain tax provisions that expired after 2017 or were about to expire, a number of retirement and IRA plan modifications, and other changes that will impact a large portion of …
A new year means a whole new set of tax laws to follow. Thankfully, many of these tax changes for 2020 can put more money in your pocket. The following article shares the most important tax changes for 2020 so you can make the best choices over the course of the year. This list details …
The California legislature recently passed landmark labor legislation that essentially makes it very difficult for a worker to be classified as an independent contractor (or self-employed). Governor Newsom was quick to sign it into law, and it generally became effective on January 1, 2020. Many believe this legislation will reduce entrepreneurship and innovation overall. Although …
On December 20, 2019, President Trump signed into law the Appropriations Act of 2020. The Act included a number of tax law changes, including allowing higher medical deductions for 2019 and 2020. In addition, the Appropriations Act of 2020 includes: extending certain tax provisions that expired after 2017, or were about to expire; retirement and …
The Internal Revenue Service (IRS) computes standard mileage rates for business, medical and moving each year, based on a number of factors, to determine the standard mileage rates for the following year. As it does annually around the end of the year, the IRS has announced the 2020 standard mileage rates. Thus, beginning on Jan. …
Do I have to file is a question many taxpayers ask during this time of year. But the question is more complicated than you’d think. To fully understand, consider that there are times when individuals are REQUIRED to file a tax return. And then there are times when it is to the individuals’ BENEFIT to file a return – …
