Tag Archives: Small Business

Late Estimated Payments

Today TaxMama hears from Jeff in Florida who is concerned. “Don’t you have to show an income with a small business at least one year out of five? My girlfriend has a small business that has shown a NOL for the past three years.”

Is it Too Good To Be True? Home-Based Business Tax Avoidance Schemes

If you use part of your home for business, you may be able to deduct expenses for the business use of your home. These expenses may include mortgage interest, insurance, utilities, repairs, and depreciation. The home office deduction is available for homeowners and renters, and applies to all types of homes, from apartments to mobile […]

2009 Annual SB/SE Customer Base Survey to Begin

The Small Business/Self-Employed (SB/SE) division of the IRS will begin conducting its annual telephone survey of taxpayers starting January 21, 2009 and running through mid-April, 2009. This survey is targeted to small business and self-employed taxpayers who file certain income tax forms, including: 1120, 1120A, 1120S, 1065 and 1040 with schedules C, E or F. […]

Find Financing Opportunities on Business.gov

Despite the billions of dollars placed into the hands of banks so they could re-start the economy by providing life-giving loans to businesses – and to help potential homeowners…hardly any of that money has reached the people who need it. In the meantime, the SBA’ Business.gov site has launched a new Loans and Grants Search […]

SBA introduces new online courses for small business owners

Courtesy of the Internal Revenue Service [See the Resource Box below, for links] The Small Business Administration’s Small Business Training Network has introduced two new free online finance courses to help small business owners with the basic principles of finance and borrowing: Finance Primer: Guide to SBA’s Loan Guaranty Programs How to Prepare a Loan […]

Tax Challenges of Business Income

Courtesy of IRS – FS-2008-20, April 2008 WASHINGTON—Internal Revenue Service research indicates that understated business income contributes significantly to the tax gap, with the majority understated by small businesses. To assist small business and self-employed taxpayers better understand their reporting obligations, this fact sheet addresses the issue of income and how to determine gross income. […]

e-News for Small Business

[Courtesy of Internal Revenue Service] “The IRS has started a new service, e-News for Small Business. Distributed every other Wednesday, it brings timely, useful tax information right to your computer, including, but not limited to: Important, upcoming tax dates What’s new on the IRS Web site Reminders and tips to assist businesses with tax compliance […]

Starting, Operating or Closing a Small Business

Tax Advice for Starting, Operating or Closing a Small Business Courtesy of the Internal Revenue Service To many citizens, running a successful business is part of the American dream. But while they may be experts in their chosen field, few small business owners are tax experts. From starting a new business to operating or even […]

Tax Calendar for Small Businesses on IRS.gov

Tax Calendar for Small Businesses on IRS.gov Are you running a small business? Would you like a calendar packed with valuable business tax information? The IRS is offering a free calendar to help you keep track of tax deadlines and important dates throughout the year. You might be surprised to learn that the IRS publishes […]

Small Business and Work Opportunity Tax Act of 2007

By David & Mary Mellem, EAs This Act, made Public Law 110-28 by President Bush’s signature on May 25, 2007, increases the Federal Minimum Wage and provides some tax changes as well. It can be found at the government’s web site of thomas.loc.gov by searching for HR 2206 or by going to Public Laws and […]

Yoga

Today TaxMama hears from Joan in Los Angeles, who has a quick question. “I am a high school teacher. This year I spent a considerable amount of money to become certified to teach yoga in order to teach at my high school as well as at local yoga studios. I didn’t earn any income this […]