Entries by S.H. Block Tax Services

How to Determine and Pay Estimated Quarterly Taxes

  Individuals who work for themselves — freelancers, S corporation shareholders, etc. — make income that isn’t subject to income tax withholding from the IRS or the State of Maryland. However, these people still have to pay income taxes on their earnings. Unfortunately, every year, millions of these individuals find themselves totally unprepared when they […]

Simple Tax Deductions for Small Businesses and the Self-Employed

Every year, millions of Americans miss out on valuable tax deductions, and perhaps no sector of the population loses bigger than small business owners and self-employed individuals. According to the Small Business & Entrepreneurial Council, small businesses with fewer than 20 workers and non-employer businesses together make up almost 98% of the businesses in America. […]

Is the IRS Targeting Small Businesses for Audits?

Experts Suggest the IRS Is Deliberately Targeting Small Businesses Small businesses in the United States create more jobs than any other sector in our economy. Yet according to tax data from recent years, businesses with the lowest levels of income ($200,000–$400,000) get audited most frequently. While the Internal Revenue Service (IRS) tells the public that […]

S.H. Block Tax Services Can Help You Manage Your Withholdings and Any Unexpected Taxes Owed

The number of allowances listed on an employee’s W-4 form determine how much that individual pays in income taxes. It’s an easy and direct system for people with one job who file as single and claim a standard deduction. However, individuals who don’t fit into this “standard” filing category may not be withholding the correct […]

5 Bookkeeping Tips for Small Businesses

Keeping up with accounting tasks can be demanding for any business, but if you run a small business and handle the bookkeeping yourself, things can get overwhelming in a hurry! To prevent things from getting out of hand, it’s smart to implement a foolproof system that makes sense for your company’s size, revenue, and industry […]