Tax Information

This tax information section is designed to provide you with self employment and independent contractor tax tips. As a home based business owner you may not always know what deductions your eligible for and how much you should pay in tax. You'll find some useful tax information and tips here.

Disclaimer: This section is provided for informational purposes and is not intended to replace advice from an accountant, lawyer, tax advisor, or the IRS. We recommend consulting a tax professional to address your specific situation.

Small Business Taxes
Large and small businesses all around the United States are required to file and pay taxes. Small business taxes are applied and determined differently than those of larger corporations. To accurately report and pay small businesses taxes business owners are encouraged...

Home Based Business Tax Deductions
Running a home based business reaps many wonderful tax deductions that other businesses some times may not claim. Unfortunately to many small business owners end up paying the government taxes every year because...

Self Employed Tax Tip
Self-employment offers a multitude of tax benefits. Opportunities to maximize your income while increasing your income may actually mean you are paying more tax, but at a lower percentage of your income.....The following tips are commonly known, although many do not use them well.

Tax Strategy for Self Employed
Self-employed individuals always cringe at the amount of taxes the pay to the IRS and state. Here are different approaches for minimizing self-employment taxes.

Odds of Tax Audit 
Unfortunately, the IRS increased its rate of auditing individuals in 2003 when compared to 2002. The increase was approximately 14%, but still constituted only 6.5 audits for every 1,000 taxpayers. Put another way, the risk of being audited on your personal return is...

Self Employment Tax Information
... As a self-employed person, you report business revenue results on your personal income tax return. Following are a few guidelines and issues you should keep in mind if you are pursuing your entrepreneurial spirit...

Home Office Tax Deductions
Home office deductions are one of the perks of working from home, however, there are clear drawbacks too. If you meet the IRS guidelines for deducting your home office, you can expect to get a hefty tax break. On the other hand,...

1099 Reporting Requirements
As we begin 2006, you’re probably not thinking about taxes at all. This is a mistake as deadlines are approaching for issuing and filing 1099s to independent contractors...

Small Business Tax Deductions
As we enter mid-March, taxpayers begin to become very interested in deductions. Following are a few that you may be entitled to claim...