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. […]
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 […]
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 […]
The current economic and political climate is making it difficult for average Americans and their families to save for retirement. However, retirement savings are a vital element of any good financial plan, and there are special tax incentives for making contributions to a retirement plan.
In December 2015, Congress passed the Fixing America’s Surface Transportation (FAST) Act, and it was subsequently signed into law by President Obama.
Now that tax season is back in full swing, small business owners need to file their taxes accurately, thoroughly, and on-time in order to avoid an audit or other penalties. In this post, we’ll examine how to do so expediently and without unnecessary stress.
