If you want to give your tax recordkeeping skills a performance boost, do what accounting professionals do. 1. Maintain a separate bank account for all self-employed business activity. This will greatly minimize confusion come tax time by giving you just one place to...
Consider tax-exempt investments as a means of cutting your income tax. There is an easy way to compare the yield on tax-exempt investments (such as municipal bonds) with the after-tax yield from taxable investments. Subtract your top tax bracket from 100 and divide...
Many sole proprietors and small business owners agree on the following two issues: they pay too much in taxes and they have difficulty attracting and retaining good employees. One way to address both of these issues is to have your business sponsor a retirement...
The “Affordable Care Act of 2010” requires employers to report the cost of coverage under an employer-sponsored group health plan on the employee’s W-2 for 2012. The IRS is easing this requirement for small companies. Employers issuing fewer than 250 W-2s will not...
In recent months there has been a spike in phishing e-mails claiming to be coming from the IRS. These e-mails are claiming that you had rejected tax transfers and contain a Tax Transaction ID number. There have been many reported sender e-mails, this one being...
