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Starting a Business Accounting

TweetShareSharePin0 SharesStarting a Business Accounting Source: Flickr Starting a business can be quite trying at times. There are many things you must consider when starting a business. In addition to deciding what type of business you will start up, what the business will sell or what services the business will provide, you must also make

4 Reasons People Get Into Trouble With the IRS

TweetShareSharePin0 Shares4 Reasons People Get Into Trouble With the IRS Source: Flickr You don’t want to mess with the Internal Revenue Service. One small mix-up when handling your finances can cost you big. For example, in recent years the IRS has increased its filing of levies, liens and wage garnishments. In fact, in 2004 alone,

IRS Levy And Garnishments

TweetShareSharePin0 SharesIRS Levy And Garnishments Source: Flickr Unfortunately to many of us the Internal Revenue Service (IRS) is one branch of government that can never be our friend and is often feared by some less reputable business owners. When the IRS is owed money, they will get it whether you like it or not. For

Paying Workers – What Can You Write-Off?

TweetShareSharePin0 Shares Paying Workers – What Can You Write-Off? Source: Flickr As your business grows, you are going to need help. This help comes in the form of employees and independent contractors. What you can write-off is dependent upon how your helper is classified – as an employee or independent contractor. Independent Contractor Whenever possible,

The World’s Top Reference Software Programs

TweetShareSharePin0 Shares The World’s Top Reference Software Programs Source: Flickr Why should a computer have a good reference software program? It is because a professional reference program will be more credible than something that can be found on a typical website. This is especially true because many leading authorities work to compile reference software that

Tips and Simple Guidelines On How To Calculate Payroll Taxes

TweetShareSharePin0 Shares Tips and Simple Guidelines On How To Calculate Payroll Taxes Source: Flickr Managing a business small, medium or big requires you to pay your taxes, as well as your employees taxes. Managing a payroll can be an arduous and taxing job, no pun intended. There are laws that require us to pay taxes

Cost Segregation : Why are 90% of real estate investors overpaying federal income tax?

TweetShareSharePin0 Shares Cost Segregation : Why are 90% of real estate investors overpaying federal income tax? Source: Flickr By ignoring generous IRS guidelines when establishing depreciation schedules, over 90% of real estate investors are unintentionally overpaying federal income taxes. In addition they are paying federal income taxes earlier than necessary, typically years or decades earlier

What documents do I need in order to deduct mortgage interest?

TweetShareSharePin0 Shares What documents do I need in order to deduct mortgage interest? Source: Flickr Many people are aware of how difficult it can be to perform normal tax processes when April comes around each year. On top of this, the more physical properties or complications an individual has in their life, the less simple

Your Tip Earnings and Taxes

TweetShareSharePin0 Shares Your Tip Earnings and Taxes Source: Flickr If you work in a service where you get tips, guess what? The IRS expects you to report them and pay taxes on them. Your Tip Earnings and Taxes The internal revenue service takes a very simple approach to tips. It views all tips you make

Tax Considerations when Hiring a Nanny

TweetShareSharePin0 Shares Tax Considerations when Hiring a Nanny Source: Flickr To satisfy the IRS and remain a happy law abiding citizen, you’ll need to assume the role of employer and pay employment taxes (Social Security, Medicare, etc. ), report payroll withholdings (taxes, insurance benefits and the like) and of course, make sure that she is
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