federal taxes Archive

Back to Business on the BBB; Tax Relief in States and Abroad

TweetShareSharePin0 Shares Congress returns this week to try again with the Build Back Better (BBB) Act. Preliminary estimates from the Joint Committee on Taxation indicate the Senate Democrats’ draft  $886 billion tax package would generate about $60 billion less in net revenue than the House version. The panel added exemptions for employer pension plans and

Tax Laws The IRS Doesn’t Want You To Know About

TweetShareSharePin0 SharesTax Laws The IRS Doesn’t Want You To Know About Most People Are Not Aware That We Have Two Tax Systems. One is for employees, which was created to take your wealth, and one is for small businesses that was designed to create economic growth. The reason is that small businesses generate over 70%

How to Incorporate Your Small Business

TweetShareSharePin0 SharesHow to Incorporate Your Small Business If your small business is growing rapidly, you might consider incorporating the business to help it reach its full potential. To incorporate business is not difficult, but there is a process to follow. This step-by-step guide will help you get on the right track. Prepare for Incorporation To

Car Donation Precautions

TweetShareSharePin0 SharesCar Donation Precautions A trend is emerging; donating cars have become very fashionable. Does it mean humanitarian issues have become the forefront of America’s priorities? Hopefully, but with the financial crisis, conceivably the tax deductions pose a greater advantage that the charitable one. If tax write offs are the biggest issue here, let us

Tax planning to infinity and beyond…

TweetShareSharePin0 SharesTax planning to infinity and beyond… Another year has come and gone and what’s really changed? Are you sitting in roughly the same place you were last year at this time with respect to your taxes–wondering what you could have done differently in your business to positively affect your year- end tax bill? All

What Will You Do When Online Gambling Is Illegal?

TweetShareSharePin0 SharesWhat Will You Do When Online Gambling Is Illegal? As you may have heard, Congress has taken a big step toward banning most online gambling. Instead of trying to outlaw gambling sites, which would be impossible to do since almost all are outside of the US, they are trying to make processing or handling

Pension Department

TweetShareSharePin0 SharesPension Department Any business that offers a pension plan needs to have a department that handles all of the details of it. This information is very important because employees are going to have questions. They are going to want to find out how to maximize the amount of money they are building up in

Starting A Business: Sole Proprietor Or Corporation?

TweetShareSharePin0 SharesStarting A Business: Sole Proprietor Or Corporation? When starting a business, it is important to consider the potential tax and legal issues. Most people choose a “sole proprietor” as their business type when starting out. Starting your business as a sole proprietor does not require any special paperwork from the IRS. Which is exactly

Charity car donation – steps to take

TweetShareSharePin0 SharesCharity car donation – steps to take You can donate your car to a wide range of charity organizations, but picking the most representative ones requires getting some previous information. So before actually donating your car, make sure you get some relevant info about the charity organization, its purposes, projects and usage of your

How to Make Money Fast by Offering Useful Online Software

TweetShareSharePin0 SharesHow to Make Money Fast by Offering Useful Online Software Determining what type of home based business you want to start can be frustrating. There are so many products and services you could offer, and so many possible types of businesses. If you can’t decide on a business focus, then selling software might be

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