Category Archives: Self-Employed

Startups Can Choose New Option for Claiming Research Credit

The following article was published by the IRS. Eligible small business startups can now choose to apply part or all of their research credit against their payroll tax liability, instead of their income tax liability, according to the Internal Revenue … Continue reading

Posted in IRS, Planning Strategies, Self-Employed, Tax Tips, U.S. Small Business Administration | Tagged , , ,

Hobby or Business? IRS Offers Tips to Decide

The following article was published by the IRS. Millions of people enjoy hobbies that are also a source of income. From catering to cupcake baking, crafting homemade jewelry to glass blowing — no matter what a person’s passion, the Internal … Continue reading

Posted in IRS, Personal Finance, Personal Taxes, Planning Strategies, Self-Employed | Tagged , , , ,

Work Opportunity Tax Credit can Help Employers Hiring New Workers; Key Certification Requirement Applies

The following article was published by the IRS. The Internal Revenue Service today reminded employers planning to hire new workers that there’s a valuable tax credit available to those who hire long-term unemployment recipients and others certified by their state … Continue reading

Posted in IRS, Planning Strategies, Self-Employed, Tax Credits, U.S. Small Business Administration | Tagged , , ,

Tips for Taxpayers Who Owe Taxes

The following article was published by the IRS. The IRS offers a variety of payment options where taxpayers can pay immediately or arrange to pay in installments. Those who receive a bill from the IRS should not ignore it. A … Continue reading

Posted in Credit, IRS, Personal Finance, Personal Taxes, Planning Strategies, Self-Employed, Tax Tips | Tagged , , , ,

Tax Tips to Consider for Cash Intensive Small Businesses in the Sharing Economy

The following article was published by the IRS. Small business owners that offer goods and services through an online platform may be part of the sharing economy. Some participate part time while others operate full time. Activities such as ride … Continue reading

Posted in Accounting, Bookkeeping, EFTPS, Personal Taxes, Planning Strategies, Self-Employed, Tax Tips | Tagged , , , ,

Important Facts about Filing Late and Paying Penalties

The following article was published by the IRS. April 18 was this year’s deadline for most people to file their federal tax return and pay any tax they owe. If taxpayers are due a refund, there is no penalty if … Continue reading

Posted in Government, IRS, Personal Taxes, Planning Strategies, Self-Employed, Tax Relief, Tax Tips | Tagged , , , ,

Top IRS Tips to Know about the Home Office Deduction

The following article was published by the IRS. Taxpayers who use their home for business may be able to deduct expenses for the business use of it. Qualified persons can claim the deduction whether they rent or own their home. … Continue reading

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