Dec 5, 2014 | Business Taxes, Closing a Business
Believe it or not, when the time comes to close your business, there is a lot of work to do. You can’t just shut your doors and hope the IRS goes away, because it won’t! There are different reasons for closing a business and a variety of methods to complete the...
Dec 5, 2014 | Business Taxes, Starting a Business
It’s a mistake to think your tax affairs will be smooth sailing once you become an established small business. No matter how long you have been operating your business, there is always a chance you will encounter some unusual situations. For example, do you know the...
Dec 5, 2014 | Business Taxes, Starting a Business
Starting and running your own business is part of the American Dream, and there are some 27 million firms in the country, around 75 percent of which have no payroll. While the majority of these entrepreneurs are likely to have great knowledge of their respective...
Nov 14, 2014 | Individual Income Tax Returns, Taxable Income
Regardless of whether most of your income comes from tips, all tips or gratuities you receive while on the job are considered to be taxable income. Even non-cash gifts, such as tickets to sporting events, must be declared to the IRS, as they are subject to federal...
Nov 14, 2014 | Individual Income Tax Returns, Taxable Income
Retirement plan distributions are generally taxable unless they are from a designated Roth or Roth IRA account. Early withdrawals of funds from a retirement plan are subject to tax, and you may also be hit with a 10 percent additional tax penalty; however there are...
