I’ve been in business a long time now, from retail to service to ag, and I’ve learned some things about wrapping up one year and getting ready for the next. Some of it I learned the hard way! Whether you run your business on paper, desktop software, mobile or cloud services, there are common tasks…
When you’re starting your business, you really don’t want to be thinking about taxes. Here’s the basics from the IRS: Four Things to Know about Taxes and Starting a Business. The article includes the 5 kinds of taxes you need to be aware of, but probably aren’t, when you start your business.
If you’re self-employed (running a business), you need to know that the IRS expects you to make estimated payments each quarter. “Taxes are pay-as-you-go,” the official IRS page said. “This means that you need to pay most of your tax during the year, as you receive income, rather than paying at the end of the…
The 2015 standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 57.5 cents per mile for business miles driven 23 cents per mile driven for medical or moving purposes 14 cents per mile driven in service of charitable organizations The business, medical, and moving expense rates…
Rural business owners commonly use part of their home in their business. This can include using an extra bedroom as a home office, an specific area of one room for product crafting such as sewing, an exterior building like a shed or garage for production or research, or a specific section of your lot or…
Independent contractors and related tax questions are some of the most common questions we get from readers, so I was glad to see these webinars offered by the IRS Small Business/Self-Employed Division during Small Business Week. The webinars will cover: What to do when you hire and pay independent contractors, and How best to…
Waiting on an income tax refund? Wondering about the status of your tax return? The IRS has an app for that, IRS2Go. In fact, the IRS has had an app since 2011, and the new version 4.0 is now available in both English and Spanish, for iPhone and Android. Refund status info is updated daily, not minute-by-minute…
IRS Tax Calendar for Small Businesses and Self-Employed, has been discontinued after 2013. This was the printed wall calendar that used to list the due dates on the pages of each month. However, the IRS said that an IRS Tax Calendar and most of the information previously contained on it can be found at www.irs.gov/taxcalendar. The calendar dates…
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