Scared by the prospect of an audit? This tax expert breaks down the various types of audits and the factors that may put you at risk. The prospect of an audit is one of the most dreaded experiences any business owner may face. Audits can be a considerable time drain on owners and staff, cost
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Don’t pay more on your taxes this year than you have to. This tax expert reveals the business write-offs you shouldn’t miss. Almost every cost in your business can be written off as a deduction or tax credit, but many small-business owners still don’t do this. This can result in paying more in taxes than
President Obama’s 2016 budget proposal seems focused on helping middle-class families pay for education and get ahead financially. But it also offers up several measures specifically targeted at small businesses. The president now has the challenge of convincing a Republican-controlled House and Senate to support his proposals. Some experts say that Republican leaders seem likely
There are two main reason small businesses make tax mistakes, and fortunately, both are preventable. Find out what they are so you can avoid these legal landmines. Small-business owners can get into trouble with their business taxes for a number of reasons. But the main culprits may not be what you think. You might be
Brian Sandoval speaks during a memorial service in Reno, NV. Nevada’s Republican governor, Brian Sandoval, secured an unlikely victory, Monday, June 1, 2015, when the conservative state Legislature approved a huge tax increase at his urging as part of a plan to boost education spending. The $1.1 billion package raises taxes on businesses and cigarettes,
If you missed or shorted a tax payment and now have a tax agency breathing down your neck, here’s how to handle the situation with minimal anxiety. Many small-business owners can get in trouble with the IRS or state taxation departments for not paying their income, payroll, sales or use taxes. I still remember the
When “Game of Thrones” actress Lena Headey got divorced, she had less than $5 in her bank account and had to rely on credit cards to support herself and her young son, she said in court filings that were obtained by TMZ and E! News. Given that she’s a top-tier actress starring in a hit
The Affordable Care Act (ACA) has ushered in the most sweeping regulatory changes to the U.S. health care system since Medicare and Medicaid were passed about 50 years ago. It raises a full range of health care issues, and will continue to do so as provisions take effect through 2020. However, along with potentially increasing
You may not have asked yourself that question in so many words, but you may have wondered what sets CPAs apart from other financial professionals. The answer in short: A lot. We typically begin our careers with years of college and graduate education. To become licensed, we must take the demanding Uniform CPA Examination, which
Where will your business be in five years? Would strategic budget cuts in some areas improve your company’s health? Are there ways you can boost revenue? If you’re nearing retirement, is there a buyer or successor in the wings? These are the kinds of questions that keep many business owners up at night. Fortunately, as
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