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...
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