Articles, tagged with "schedule c", page 1

Business Entity Forms. Part I: Sole Proprietorships and Partnerships.

SOLE PROPRIETORSHIP A sole proprietorship is owned and run by one individual (although a husband and wife can qualify as sole partnership) who is personally liable for all losses and debts. It is the most common form of starting a new business because ... Read >
Author: Attorney Sergei Tokmakov

Step 7 in the IRS Process and You're Dead

The following represents the steps a tax form takes at the IRS office. Step 1. Mail enters the IRS mail room and gets gennerally sorted by mail room employees. Step 2. Mail gets opened by other employees who then sort the forms onto a cart and run... Read >
Author: RockinJay

Small Business Tax Questions - Are You Required To Deduct Expenses This Year?

If you're a small business owner or self-employed person, what do you do if you have little or no income this year, along with substantial expenses? Do you have to report and deduct those expenses in the year in which they are paid or incurred? Or can you... Read >
Author: Wayne M. Davies

Employee vs Independent Contractor

If you own a small business or are thinking about starting one, you will need to have a good understanding of the difference between a regular W-2 employee and a 1099 independent contract. It is usually more beneficial for an employer to have a contracto... Read >
Author: will41981

Small Business Tax Tips - How To Prepare Form 4562 In 5 Simple Steps

If you buy equipment for your business such as a computer or a printer, you can deduct those items on your business income tax return. Usually that means tackling Form 4562 and entering one of the most complicated areas of tax law -- the dreaded world kno... Read >
Author: Wayne M. Davies

Self Employed - The IRA Solution

Small business owners make up the backbone of the American workforce. Whether a sole proprietorship or a small business with just a few employees, these types of companies keep America running.Small business owners make up the backbone of the American wor... Read >
Author: Casey Trillbar

Schedule C Tax Deductions - "E" Is For Employees, Education And Entertainment

Looking for legitimate tax deductions for your small business income tax return this year? Here are three common expenses you can deduct on Schedule C, all starting with the letter "E". Employees. There are several legal deductions related to your e... Read >
Author: Wayne M. Davies

Schedule C Tax Tips - What Payroll Tax Forms Should You File?

If you own a sole proprietorship and have employees, what payroll tax forms are you required to file? This article will answer that question. First things first. Let's check to make sure you really have employees. Take a look at Schedule C, Line 26, Wa... Read >
Author: Wayne M. Davies

Schedule C Tax Deductions - How To Deduct The Cost Of Goods Sold

Are you a sole proprietor who sells a product? Then you need to know how to deduct expenses related to the sale of those products. The purpose of this article is to give you an overview of what is potentially your biggest tax deduction. First, let's di... Read >
Author: Wayne M. Davies

Schedule C Tax Tips - Why Filing Schedule C-EZ May Be A Big Mistake For Your Small Business

Are you a sole proprietor who files the shorter Schedule C-EZ rather than the traditional (and longer) Schedule C? If so, please read on to find out why you may be making a big mistake. First, a quick review of the qualifications for using Schedule C-E... Read >
Author: Wayne M. Davies

Schedule C Tax Tips - 3 Easy Ways To Reduce The Dreaded Self-Employment Tax

Frustrated with the amount of self-employment (SE) tax you pay each year? You should be. The sole proprietor pays twice as much in SE tax (15.3%) as the employee pays in federal payroll taxes (7.65%). What's a Schedule C filer to do? Here are three ways t... Read >
Author: Wayne M. Davies

How to Find Investors for Real Estate

Finding cash, whether your own or from other investors, is the biggest obstacle to developing a real estate investment business. Though new investors have invariably heard about no-money-down deals, buying properties for pennies on the dollar, and walking... Read >
Author: Roose Stembridge

IRS Audits: How to Reduce Risk

Fear of an IRS audit is a tangible thing in the lives of many people. Even if they have diligently paid all their taxes and reported every penny they still have a fear of an audit. Audits can lead to loss of income, seized property and sometimes even a ja... Read >
Author: Pat Lindle

Tax Breaks for Business Owners

Here we are, deep in the midst of tax season. If you haven’t filed your business tax return yet, now is the time to kick it into high gear. To help you finish strong, here are more valuable business deductions to help you save money on your taxes. Tax... Read >
Author: Roni Deutch

How to Prepare the Easy Part of Schedule C

Are you a sole proprietor who faces the daunting task of filling out Schedule C every year? If you break out into a sweat just thinking about, you came to the right place. To get the most out of this article, get a copy of Schedule C and have it in front ... Read >
Author: Wayne M. Davies

User published content is licensed under a Creative Commons Attribution-NoDerivs 3.0 Unported License